Market Analysis & Trends - Bitcoin is bouncing from a support level, showing short-term bullish signs, potentially re-entering a descending parallel channel [1][10][12] - A bearish divergence on the weekly Bitcoin price chart suggests potential pullback or sideways consolidation in the next 1-2 months [3][7] - Bitcoin dominance is experiencing a short-term pullback, which is temporarily beneficial for the altcoin market [1][26] - Altcoin funding rates are flipping back towards neutral, indicating a potential short squeeze and a short-term bounce in the altcoin market [29][30] Key Levels & Price Targets - Bitcoin's short-term resistance levels are around 116,500 (116.5K) and 118,500 (118.5K), with support expected between 114,000 (114K) and 114,500 (114.5K), and major support at 112,000 (112K) [13][14][15] - Ethereum may retest resistance between 3,900 (3.9K) and 4,100 (4.1K) USD, with a potential bullish move towards 5,000 USD if it breaks above 4,100 (4.1K) USD [32][34] - Solana is retesting resistance around 167-170 USD, with a potential move towards 180 USD if it breaks above 170 USD; support lies between 143-146 USD and 155-156 USD [42][43][44] - XRP has broken above 0.29 USD (29 cents), expecting support between 0.29 USD (29 cents) and 0.30 USD (30 cents), with potential resistance at 0.31-0.32 USD and 0.34 USD [51] - Chainlink is likely to retest resistance between 1,750 (17.50) and 1,800 (18) USD, with support at 1,550 (15.50) USD [59][60][63] Individual Cryptocurrency Analysis - XRP shows a significant bearish divergence on the weekly chart, indicating a potential pullback over the next 1-2 months, similar to the pattern seen in early 2021 [45][48] - Chainlink is expected to bounce in the short term, potentially retesting the 1,750 (17.50) to 1,800 (18) USD resistance area [61][62]
BITCOIN & ALTCOIN BOUNCE: DON'T GET THIS WRONG!!! - Bitcoin News, Ethereum, Solana, XRP & Chainlink
Crypto Worldยท2025-08-04 18:49