If you’ve been following the crypto markets recently, you might have noticed a shift in momentum. Bitcoin, the flagship cryptocurrency, just invalidated a key price pattern and broke below a crucial support level. At the same time, massive liquidity is building just above Bitcoin’s price, signaling potential resistance ahead. Meanwhile, important altcoins like Solana, Ethereum, XRP, and Chainlink are retesting critical levels or showing warning signs that traders need to watch closely.
In this deep dive, we’ll explore the current state of Bitcoin and several top altcoins, analyzing key price charts, momentum indicators, and liquidity zones. Whether you’re a seasoned trader or a crypto enthusiast looking to understand the market dynamics better, this comprehensive guide will help you navigate the choppy waters of crypto investing right now.
Bitcoin: Momentum Fades as Key Levels Are Tested
Starting with Bitcoin, the weekly price chart reveals a mixed picture. The SuperTrend indicator remains green, signaling that the larger bull market trend is still technically intact. However, the momentum is almost non-existent, as seen in the flat weekly MACD. This lack of momentum is a red flag for traders hoping for a strong bullish push.
Adding to the caution, Bitcoin’s weekly RSI shows a massive bearish divergence: while Bitcoin’s price has made higher highs, the RSI is making lower highs. This divergence is a classic sign of weakening bullish momentum and suggests that the current uptrend may be losing steam. As I’ve emphasized over the past few months, don’t expect a significant rally anytime soon based on these weekly indicators.
Zooming into the three-day Bitcoin chart, we see a similar lack of momentum and a neutral tone. The price is consolidating sideways within a range, with no clear direction. There is a potential bullish pattern forming—a cup and handle—which is a strong bullish signal if confirmed. But confirmation requires a breakout with a three-day candle close above approximately $110,000. Until that happens, this pattern remains unconfirmed and speculative.
On the daily chart, Bitcoin is trading between key support and resistance levels. Resistance is expected around $110,000 and $112,000, while support lies near $103,000 and $98,000. Recently, Bitcoin closed two daily candles just below a critical resistance level around $108,500, which has flipped from previous support to resistance. This flip is crucial because it signals that sellers are defending that price zone.
Looking even shorter term on the six-hour chart, Bitcoin faces strong resistance between $108,500 and $109,000. This area has repeatedly rejected price advances before. Should Bitcoin manage to close candles convincingly above $109,000, it would then face another resistance zone from $110,000 to $110,500. However, given the recent rejection at these levels, the short-term outlook remains cautious.
Another critical tool is the Bitcoin liquidation heat map. It shows massive liquidity building just above $110,600. Liquidity zones are areas where stop losses and pending orders cluster, often serving as magnets for price action. This means traders need to watch this level carefully as it could trigger volatile moves if hit. There’s also some smaller liquidity building below Bitcoin’s current price, around $106,700–$106,800 and near $105,000, which could act as short-term support in case of a pullback.
Overall, Bitcoin is stuck in a sideways trading range, lacking the momentum for a decisive breakout or breakdown. This means traders should prepare for choppy price action in the near term rather than big moves up or down. For those looking to trade, platforms like BTNX and Toobit offer no KYC access and trading bonuses, making them attractive options for active crypto traders.
Ethereum: Sideways Consolidation Amid Flat Momentum
Ethereum is mirroring Bitcoin’s sideways price action. On the daily chart, ETH is bouncing between roughly $2,400 and $2,800. Support is strong between $2,380 and $2,400, while resistance lies around $2,700 to $2,800. Recently, previous resistance near $2,500 flipped into short-term support, which is a positive sign for bulls.
Despite this, Ethereum’s momentum remains flat. On the two-hour chart, a short-term bearish divergence played out and has likely run its course. Typically, such divergences influence price action for one to three days, and we are now beyond that window. Over the last couple of days, ETH has been slowly drifting upwards alongside the RSI, indicating some mild bullish pressure but nothing explosive.
Given this, Ethereum is expected to continue trading sideways within this range unless a significant catalyst emerges. Traders should watch for a breakout above $2,800 or a breakdown below $2,400 for clues on the next major move.
Solana: Retesting Critical Support Levels
Solana’s price action is especially important because it is currently retesting a critical support zone between $143 and $146. Historically, this level has been a strong bounce point for SOL, so bulls will want to see price hold and rebound here.
If Solana breaks below $143 with daily candle closes, the next support zone lies around $138 to $139. A further breakdown could lead to a retracement to the local low set in mid-June, around $126 to $131 depending on whether you look at candle wick lows or closes.
The overall trend for Solana remains bearish, with lower highs and lower lows forming on the price chart. However, in the immediate short term—over the next few hours to days—the price action looks neutral and choppy. This suggests a period of sideways consolidation rather than a clear directional move, consistent with what we’re seeing across the crypto market right now.
XRP: Bouncing from Key Fibonacci Support but Facing Strong Resistance
XRP is currently bouncing from a key Fibonacci support level around $0.219 to $0.220. This support has held well recently, and we can expect it to act as a floor in the short term.
If the bounce continues, XRP could retest resistance in the $0.231 to $0.235 range. This zone has been a tough ceiling, with many rejections recently, so it remains a significant hurdle for bulls.
Looking at the 12-hour chart, XRP’s price structure is slightly more bullish than bearish, as the coin is forming higher lows and higher highs. However, the momentum remains weak, and the upward drift is gradual rather than explosive.
It’s important to note that if Bitcoin and other top altcoins like Ethereum and Solana continue to struggle, XRP’s chances of breaking above this resistance zone diminish. The overall crypto market’s health usually dictates XRP’s ability to rally strongly.
Zooming into the eight-hour chart, a possible rising wedge pattern that warned of bearish pressure has been effectively invalidated. The price briefly broke below ascending support but quickly bounced back above, negating the bearish setup. This adds to the neutral-to-slightly-bullish short-term outlook for XRP.
Chainlink: Consolidation and Warning Signs to Watch
Chainlink is also trading sideways between important support and resistance zones. On the daily chart, support lies between $12.60 and $12.80, while resistance is around $13.60 to $13.80.
Price action is choppy and lacks momentum, reflecting the broader market’s indecision. On the four-hour chart, there is a bearish divergence that has not yet been fully invalidated. This means the price could still experience a pullback or sideways movement before any clear directional move.
Significant support near $12.60 to $12.80 should provide a buffer against sharp declines, so traders can expect potential bounces if the price dips to these levels.
What This Means for Crypto Traders and Investors
Across Bitcoin, Ethereum, Solana, XRP, and Chainlink, the common theme is clear: the crypto market is in a phase of low momentum and sideways consolidation. While there are pockets of bullish and bearish signals, none are strong enough to drive a decisive breakout or breakdown in the near term.
For traders, this means the next few weeks could be characterized by choppy price action and small swings rather than explosive moves. It’s a time to be cautious, watch key support and resistance levels closely, and be prepared for volatility around liquidity zones.
For investors, this consolidation phase might be an opportunity to accumulate at key support levels while waiting for clearer signals of the next bull or bear cycle.
If you’re looking to capitalize on potential trading opportunities during this period, consider using exchanges like BTNX or Toobit, which offer no KYC sign-ups and attractive trading bonuses. These platforms can help you get set up quickly and trade efficiently when the market picks a direction.
Key Levels to Watch in the Coming Weeks
- Bitcoin: Resistance at $108,500–$109,000 and $110,000–$110,500; support at $105,500–$106,500 and $98,000–$103,000.
- Ethereum: Support at $2,380–$2,400; resistance at $2,700–$2,800; short-term support near $2,500.
- Solana: Critical support at $143–$146; next support at $138–$139; potential drop to $126–$131 if broken.
- XRP: Support at $0.219–$0.220; resistance at $0.231–$0.235.
- Chainlink: Support at $12.60–$12.80; resistance at $13.60–$13.80.
Strategies for Trading in a Sideways Market
Trading in low momentum, sideways markets requires a different approach than during strong trending phases. Here are some tips:
- Trade key support and resistance levels: Look for bounces or rejections around established zones to enter short-term trades.
- Use tight stop losses: Sideways markets can quickly reverse, so manage risk carefully.
- Consider range-bound trading strategies: Such as buying near support and selling near resistance.
- Watch liquidity zones: These areas can trigger sharp moves when hit, offering opportunities for breakout or breakdown trades.
- Stay updated on macro factors: News events, regulatory developments, and market sentiment can shift momentum quickly.
Final Thoughts on the Current Crypto Market
Bitcoin and the broader crypto market are currently in a phase of uncertainty and consolidation. The breakout many hoped for appears to be over for now, replaced by sideways price action and low momentum. While this may be frustrating for bullish traders, it’s a natural part of market cycles.
By paying close attention to key support, resistance, and liquidity levels, you can position yourself to take advantage of whatever move the market makes next—whether up or down. Remember, patience and discipline are crucial in these periods.
Stay informed, trade smart, and keep an eye on the key cryptocurrencies we discussed—Bitcoin, Ethereum, Solana, XRP, and Chainlink—as they will likely set the tone for the crypto market’s next chapter.
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