This is a daily analysis of the top -tokens with CME futures by Coindesk analyst and chartered market technician Omkar Godbole.
Bitcoin: Resistance to $ 120,000?
Bitcoin’s (BTC) Upwing has collected pace, which indicated by “negative dealer gamma build -up” and Ibits Bull Flag Breakout. Bull Momentum looks strong, the evidence of the 14-day RSI-Topping 70 and the MacD histogram that produces higher columns over the zero-line reason to worry about bulls, or is it?
With prices for unprotected territory, it becomes difficult to identify resistance, and therefore we look at the market for clues. At the laid off, the $ 120,000 strike call is the most popular option with an open interest of $ 2.37 billion and can be the next key level to look at.
Coinbase Premium changed to a negative level early today, which suggested weaker demand in the state’s market along with a fall overnight in the cumulative eternal futures open interest in offshore exchanges. Both factors require caution on the part of the bull.
Meanwhile, the Time Card’s RSI requires attention as a potential bearish divergence can emerge, signaling a break in uptrend and a possible correction.
- AI’s Take: The market, which is on unprotected territory, makes it vulnerable to a withdrawal despite the overall positive mood.
- Resistance: $ 120,000
- Support: $ 113,666 (23.6% FIB in the recovery from June low)$ 119,965 (May high)
Ether: Bulls pushes through the supply zone
Ether (Eth) has finally managed to clear the supply zone for about $ 2,800, which limited upside down in May and June. A recovery in spot volumes supports breakout and combined with the fresh bullish signal from Guppy -Multiple sliding the average system, suggesting the potential for a continued feature higher, in addition to $ 3,066, 61.8% FIB -Retracement level in December to April to April downward. With prices firmly over the ichimoku cloud along with an RSI over 70 and an increasing MacD, withdrawals, if any, are probably low and well supported to about $ 2,600.
- AI’s Take: Ether’s breakout over the $ 2,800 supply zone suggests a potential shift in market mood and a bullish continuation.
- Resistance: $ 3,066, $ 3,400, $ 3,525
- Support: $ 2,880, $ 2,600, $ 2,370
Solana: Dual Breakout
Sun’s (Sun) Price mounting at a high of $ 166 triggered a reverse head-and-shoulder breakout and marked a crossover to the bull area over the ichimoku cloud. It’s double breakout! The measured method of motion used for the inverse H&S breakout suggests a potential rally to $ 200. On the higher prices may encounter resistance between $ 180 and $ 190, characterized by intraday heights from May. On the downside is the $ 145 key support, which, if lost, could the office bears bears.
- AI’s Take: The double breakout signals a strong bullish confirmation and offers bulls a compelling case to chase upwards. Careful dealers should still control the risk of stop loss orders and wider market conditions.
- Resistance: $ 180- $ 190 range, $ 200.
- Support: $ 150 (the 100-day SMA)$ 145 and $ 125.
XRP: Strongest Tyr area since Jan
XRP
has risen to $ 2.58, the highest since May 14, with the 14-day RSI crossing over 70 for the first time since January to propose the strongest Bullish Momentum of six months. The rising MacD -Histogram also paints a bullish image and supports a potential break over resistance to $ 2.65 (May high). After this would focus change to $ 3.00 and $ 3.39 (the annual high). XRP’s Eternal Futures Open Interest has risen to a fresh several months altitude of 833 million XRP that supports the rally.
- AI’s Take: XRP’s market points to significant bullish strength.
- Resistance: $ 2.65, $ 3.00, $ 3.39.
- Support: $ 2.20, $ 1.90, $ 1.60.
