Bitcoin continues to encounter significant resistance near the $120,000 price level but demonstrates resilience through robust support at $115,000. This price action underscores persistent buyer interest despite headwinds.
Altcoins exhibit notable momentum, with Ether (ETH), XRP, and Solana leading the charge. Institutional confidence in ETH remains high, evidenced by $2.12 billion flowing into Ether exchange-traded products.
Broader market indicators reinforce bullish sentiment across cryptocurrency markets. The S&P 500’s rebound and the US Dollar Index’s struggle to sustain gains create a favorable macroeconomic backdrop for digital assets.
Bitcoin’s technical setup suggests potential upside if it clears the $123,218 resistance. Key indicators include an upward-sloping 20-day EMA and overbought RSI readings. However, failure to hold above $110,530 may trigger a sell-off toward $100,000.