Bitcoin (BTC) dipped below the breakout level of $109,588, but buying on dips remains evident as traders eye lower support levels. Despite this pullback, US spot Bitcoin ETFs attracted significant inflows totaling over $1.5 billion in two days, suggesting sustained investor interest.
Veteran trader Peter Brandt predicts Bitcoin could reach $125,000 to $150,000 by the end of August, but excessive leverage in Bitcoin futures (open interest at $80 billion) raises the risk of sharp corrections and forced liquidations.
Ethereum (ETH) faced resistance at $2,738 and may test its 20-day EMA at $2,388. A strong rebound could see a rally toward $3,000, while a breakdown below $2,388 might lead to declines toward $2,111.
XRP remains range-bound between $2 and $2.65. A breakout above $2.65 could complete a bullish inverse head-and-shoulders pattern targeting $3.70, whereas a drop below $2 might push prices down to $1.27.
BNB sharply retreated from $693 but found support at the 20-day EMA of $647. Surpassing $693 could propel BNB toward $732–$761; conversely, breaking below the EMA may lead to a decline to $612.
Solana (SOL) climbed above $180 but is challenged at $185 by bears. Holding above this level could lead to rallies toward $210 and $220, while a drop below its 20-day EMA at $167 could prompt falls to $147.
Dogecoin (DOGE) saw resistance at $0.26 and could test the 20-day EMA near $0.21. A bounce might drive prices up to $0.35, but falling below $0.21 could confine DOGE between $0.14 and $0.26.
Cardano (ADA) bounced off a key neckline but struggles to breach $0.86. A break below this neckline may push ADA toward $0.60, whereas a sustained recovery above $0.86 could signal a move to $1.01.
Sui (SUI) failed to surpass $4.25 and dropped below the 20-day EMA of $3.73. Continued weakness may send SUI to its 50-day SMA at $3.09, while a rally above $4.25 could eventually reach $5.37.
Hyperliquid (HYPE) surged past the $28.50 resistance and briefly exceeded $35.73. Maintaining gains could see HYPE climb to $42.25, but dropping below its 20-day EMA at $26.32 would signify a local top.
Chainlink (LINK) broke out of a descending channel but struggles to sustain momentum. Falling back below the neckline may trap LINK in the channel with a potential drop to $13.20. Conversely, holding above it might lead to gains near $19.80.
Overall, the crypto market exhibits cautious optimism with several major altcoins testing critical support and resistance levels amid mixed momentum. Investors should watch these key technical points closely as the market seeks direction.