Guess What? Bitcoin’s Highs and Ether’s Eyes Are Aimed at $3.4K – What Could Go Wrong?

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What to know:

  • BTC ends its corrective trend—thank goodness! I was getting bored.
  • ETH is peeking at $3,400 like a kid eyeing a cookie jar.
  • SOL‘s stability has given bulls a reason to throw a party—confetti optional.
  • XRP bears are lurking in the shadows like that one uncle at family gatherings.

This daily analysis is brought to you by CoinDesk’s very own Omkar Godbole, who knows his charts like I know my way to the nearest coffee shop.

Bitcoin : Re-test of record highs likely

Bitcoin’s (BTC) hourly chart shows that prices have triumphed over the descending channel, forming a higher low at around $117,000. It’s like watching a motivational speaker come back to inspire a crowd. Plus, it’s crossed the Guppy multiple moving average—don’t ask me what that is, but it sounds smart.

The stage is set for a rally to new highs. Just be cautious: a dip below $117,000 would be like tripping over your shoelaces on the way to the finish line. We wouldn’t want that.

Open interest in perpetuals on various exchanges—like the ones that sound super mysterious—has reached its highest level in nearly two years, while funding rates are partying like it’s 1999. Sounds bullish, doesn’t it?

  • AI’s take: Bitcoin seems to be buzzing back to life. Just remember to keep that $117,000 support level in mind, like a safety net made of cotton candy.
  • Resistance: $120,000, $123,181—levels that feel as daunting as getting through a family dinner.
  • Support: $117,000, $113,688 (like the forgotten relatives you’d rather not visit).

Ether : Eyes $3,400

Ether’s (ETH) breakout from the expanding triangle is a plot twist even Netflix would envy. The 14-day RSI is flexing its muscles, having overtaken the 70 mark. Time to celebrate, or at least have a small gathering—BYO snacks.

The ether-bitcoin ratio is looking good, like a dash of hot sauce on a bland meal. But bear in mind, Tuesday’s low of $2,933 is that pesky hurdle waiting to trip the bears.

  • AI’s take: Ether is ready to strut its stuff toward $3,400. Just keep a watch on $2,933 like a hawk at a picnic.
  • Resistance: $3,400, $3,570, $4,000—dream big, folks!
  • Support: $2,933, $2,739, $2,600—like the friends who always have your back.

Solana : Stability near 200-day SMA is encouraging for bulls

Solana’s SOL is doing the cha-cha near the 200-day simple moving average. This steady dance is quite the change from the wild swings we witnessed in May. Good job, Solana; you’ve got rhythm!

Couple this with the breakout above the Ichimoku cloud, and we might see that recent resistance at $168 turn into cozy support. Up next? A thrilling showdown at $200. Tuesday’s low of $157.13 is like that final boss battle in a video game.

  • AI’s take: Solana, you charming little upstart, seems to be holding its ground. Remember, it’s always darkest before the dawn, or whatever they say!
  • Resistance: $168, $187, $200—like those tests you never studied for but surprisingly aced.
  • Support: $157, $145, $125—your safety net for when things get bumpy.

XRP: Looks north after Tuesday’s ‘Hanging Man’ candle

XRP’s (XRP) hourly chart reveals a picture-perfect transformation from a pullback to a renewed upswing. Prices are making a dramatic exit out of the downward channel, like a magician tossing aside a curtain.

The setup looks promising for a re-test of the recent highs above $3.00. But alas, Tuesday’s ‘hanging man’ candle, is a warning sign. Kind of like that one friend who always tries to convince you to skip the salad.

  • AI’s take: The daily chart’s hanging man says, “Friend, be cautious!” Stick with the hourly bounce, but don’t forget about the leaves falling off in autumn.
  • Resistance: $3.00, $3.40—climbing higher, like that last cookie you should probably avoid.
  • Support: $2.80, $2.6-$2.65, $2.38—because we all need a fallback plan!

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2025-07-16 15:06