Bitcoin Eyes $120,000 Resistance Amid Market Uncertainty and Altcoin Potential

What is Bitcoin’s Current Market Position?

Bitcoin is currently attempting to break through the $120,000 resistance level. Analysts indicate that maintaining a price above $116,900 is crucial for bullish momentum.

How Does Ether Compare in the Current Market?

Ether has shown strength, recently surpassing the $3,745 resistance. Analysts predict it may face selling pressure as it approaches the $4,094 level.

Frequently Asked Questions

What are the key resistance levels for Bitcoin?

The key resistance levels for Bitcoin are currently at $120,000 and $123,218.

How is Ether performing in the market?

Ether is performing well, with a recent price of around $3,941, and is expected to challenge the $4,094 resistance level.

Key Takeaways

• Bitcoin’s resistance at $120,000: A critical level for bulls to overcome.
• Ether’s potential surge: Expected to challenge $4,094, indicating strong market interest.
• Market dynamics: Sustaining prices above $116,900 is essential for bullish trends.

Conclusion

In summary, Bitcoin is at a pivotal point, facing resistance at $120,000. Ether also shows promise, with potential upward movement. Staying informed on these trends is crucial for investors.

• Bitcoin has made a brilliant comeback but is expected to face significant resistance at $120,000.

• Ether looks strong on the charts and is expected to challenge the $4,094 level, where sellers are expected to step in.

• Glassnode reported that the cost basis of local top buyers is around $116,900, indicating a crucial support level.

Bitcoin is attempting to break through the $120,000 resistance level, while Ether shows strength in the market. Key predictions and analysis included.

Bitcoin Price Prediction

BTC cleared the near-term resistance of $115,720 but is facing selling at the downtrend line.

If the price turns down from the downtrend line but rebounds off the neckline, it suggests buying on minor dips. If that happens, the BTC/USDT pair could retest the $120,000 to $123,218 resistance zone.

Ether Price Prediction

Buyers pushed ETH above the $3,745 hurdle, signaling that the corrective phase may be over.

The rally rose above the $3,941 resistance but is expected to face fierce selling as it approaches the $4,094 level.

XRP Price Prediction

XRP turned up from the $2.95 support and skyrocketed above the 20-day SMA on Thursday.

The bulls will try to push the price to the overhead resistance of $3.66, where the bears are expected to mount a strong defense.

BNB Price Prediction

BNB pierced the 20-day SMA on Thursday, indicating that the selling pressure is reducing.

Sellers may pose a strong challenge at $794 and again at $815.

Solana Price Prediction

Sellers tried to pull Solana below the 50-day SMA on Wednesday, but the bulls held their ground.

The SOL/USDT pair has risen toward the 20-day SMA, which could be a near-term hurdle.

Dogecoin Price Prediction

Dogecoin turned up from the 50-day SMA on Wednesday and has reached the 20-day SMA.

The price could ascend to the $0.25-$0.26 overhead zone if it rises above the 20-day SMA.

Cardano Price Prediction

Cardano has reached the 20-day SMA, indicating solid buying at the 50-day SMA.

If buyers sustain the price above the 20-day SMA, the ADA/USDT pair could rally to $0.86.

Hyperliquid Price Prediction

Hyperliquid recovered to the moving averages, where the bears are expected to mount a strong defense.

A break above the moving averages suggests that the bears are losing their grip.

Stellar Price Prediction

Stellar broke above the 20-day SMA, signaling that the correction may be over.

If XLM price maintains above $0.46, it could soar to the overhead resistance of $0.52.

Sui Price Prediction

Sui jumped from the 50-day SMA and reached the 20-day SMA.

If buyers sustain the price above the 20-day SMA, the SUI/USDT pair could surge to $4.