Bitcoin bulls are struggling to sustain intraday rallies, facing resistance as the digital asset eyes its fifth consecutive red monthly candle, a streak not seen since 2018-2019. Technical indicators, such as tight monthly Bollinger Bands, suggest potential for a significant price move, though historical precedent shows this can precede both rallies and breakdowns.
Institutional activity, monitored through US spot Bitcoin ETF flows, reveals consistent net outflows this week, potentially hindering a sustained recovery without renewed investor participation. Traders are advised to watch for ETF inflows reversing current trends.
Bitcoin (BTC) price action shows demand above $65,118. A push above the 20-day EMA at $71,247 is needed for bulls to target resistance at $74,508. Sellers gain control below $65,118, potentially leading to a retest of the $60,000 support.
Ethereum (ETH) is consolidating between $1,750 and $2,111. A break below $1,750 could lead to a drop towards $1,537. A decisive move above $2,111 would signal a bullish shift, targeting higher resistance levels.
XRP shows a lack of demand above its 20-day EMA. A slide towards support is likely, with a break below indicating bearish control. Bulls need to surpass the downtrend line for a potential trend change.
BNB is trending towards the $587-$570 support zone. A fall below this area could trigger further declines towards $500. Recovery above $669 resistance is necessary to negate the bearish outlook.
Solana (SOL) faces pressure above immediate support at $76. A break below this level could send SOL towards $67, then potentially $50. Strength signals emerge with a close above the $95 breakdown level.
Dogecoin (DOGE) is attempting to surpass its 20-day EMA. A successful breach could lead to a rally towards $0.12. A drop below $0.09 would signal further weakness.
Bitcoin Cash (BCH) has fallen below its 20-day EMA, indicating bearish momentum. Sustained weakness could target the $500 support. Bulls must reclaim the 50-day SMA for a bullish signal.
Hyperliquid (HYPE) bounced off its 50-day SMA, showing buyer interest. A move above $32.50 is key for bulls to target the $35.50-$38.42 resistance zone.
Cardano (ADA) struggles to break above its 20-day EMA. A close above the downtrend line is needed for a short-term trend change. Sellers aim to push ADA below its support line, with $0.15 as a potential downside target.
Monero (XMR) is consolidating within a downtrend. A break below $309 could lead to a test of the $276 support. Bulls need to secure the price above the 20-day EMA at $360 to signal strength.