PakGazette – With a recent break above a crucial resistance level near $102,000, it continues to gain ground. Although this move suggests that the asset is strong again, there is still a major test ahead as Bitcoin approaches a crucial psychological and technical barrier at $105,000.
A favorable macroeconomic environment and increasing trading volume have helped Bitcoin maintain its bullish trend over the past week. BTC is reclaiming the 50, 100, and 200 EMAs on the daily chart, indicating that the uptrend is still in place. With an RSI of 63, the market is showing moderate strength but still has room to rise before reaching overbought territory. The $105,000 mark is a formidable hurdle.
To maintain its current rally, Bitcoin must decisively overcome this strong resistance level which is in line with the previous peaks on the chart. The market may reach $110,000, a level not seen since the start of the last significant bull run if this breakout is successful. A pullback could occur with support levels at $98,000 and $95,000 if the price fails to break above $105,000.
These levels, once major resistances, now serve as solid support areas that could reduce Bitcoin’s downside risk. As BTC’s recent price action suggests growing institutional and retail interest, overall market sentiment remains cautiously optimistic. In the medium term, the macroeconomic environment that foresees slower increases in interest rates contributes to the optimistic outlook for Bitcoin.
The most important level that traders and investors should pay attention to is the $105,000 mark. Strong volume combined with a clear move above this area could support the bullish case for Bitcoin and pave the way for future gains. However, failure to sustain above $105,000 could signal a brief stop in the rally.
prevails
Following its recent breakout above $3, XRP is still proving its dominance in the cryptocurrency market and has a lot of momentum. The asset remains firmly positioned as a key player despite some setbacks thanks to its strong trading volumes and advantageous on-chain metrics. The price of XRP has risen in recent weeks surpassing important resistance levels. Its advance towards $3 and above was triggered by its breakout of the consolidation pattern at around $2.5.
The asset found support above the 50 and 100 EMAs on the daily chart, demonstrating the excellent performance of XRP. Furthermore, RSI levels close to 68 indicate that XRP is still in a healthy bullish phase without being overbought. The next major target for bullish investors is $3.5, where XRP is currently trading at $3.13.
A possible advance would indicate further bullish momentum as this level represents a psychological and technical barrier. On the contrary, if the current levels do not hold, XRP may retest the support at $3 or even $2.75. Furthermore, on-chain metrics paint a favorable picture of XRP. There have been over 1 billion account-to-account payments in recent days, indicating an increase in network usage and activity.
The growing popularity of the asset has also been supported by the constant increase in the number of active accounts. The fact that XRP can sustain high trading volumes (currently exceeding $230 million on its bullish candlesticks) further demonstrates its dominance. This volume of activity suggests that institutional and retail investors are still interested.
In the future, XRP’s path towards $3. 5 depends on both the current strength of the chain and general market conditions. A successful breakout of $3.5 could pave the way for additional gains, making the $4 mark a realistic target. However, traders should remain alert for potential pullbacks, especially if market sentiment changes or volume decreases.
take all the attention
Solana’s notable 45% rally in recent days has caught the market’s attention and may indicate a major trend change. Numerous major technical breakouts have coincided with this rise which may open the door to long-term bullish momentum. Solana recently broke a number of important resistance levels, such as the 50 EMA at $199 and the 100 EMA at $210.
There had previously been no significant price recovery due to these levels. A strong bullish signal confirming the potential for a trend reversal is provided by breaking these thresholds. The asset is currently trading above $280, indicating a high level of market confidence. After Solana firmly broke out of its descending channel that had kept the asset under selling pressure for weeks, another significant breakout occurred.
By invalidating the bearish structure, this move paves the way for a more bullish continuation. Furthermore, the fact that Solana’s RSI has reached 78 indicates strong momentum. This confirms the strength of the buying pressure driving the rally, although it also points to some overbought conditions.
The increase in volume has also been significant. During this rally, Solana’s trading volume reached a new high, indicating increased participation and interest in the market. To maintain the current bullish trend, this is a crucial component.
Looking ahead, the $300 mark may serve as a psychological barrier when Solana encounters its next significant resistance. If this rally is successful, it may lead to higher targets of $350 or more. For the asset to continue its bullish outlook to the downside, support above $250 must hold.
