Daily Crypto Signals: Bitcoin Eyes $120K Amid Volatility, While XRP and Litecoin Hint at Explosive Rallies
Bitcoin's price momentum continues as it challenges key resistance levels near $120,000, while XRP displays strong technical indicators
Quick overview
- Bitcoin is approaching key resistance levels near $120,000, with analysts predicting significant price movements ahead.
- XRP's recent bullish crossover patterns suggest potential price targets of $9 or even $24 based on historical trends.
- Litecoin has gained over 30% in July, showing promising signs of a new trend as its Average Directional Index crosses critical levels.
- Traders are preparing for larger price swings in the near future, with significant liquidation clusters identified around current price levels.
Bitcoin’s BTC/USD price momentum continues as it challenges key resistance levels near $120,000, while XRP XRP/USD displays strong technical indicators suggesting potential rallies to $9 or even $24 based on historical bullish crossover patterns. Meanwhile, Litecoin LTC/USD shows promising signs with its Average Directional Index crossing critical levels that previously preceded an 11,900% rally.
Crypto Market Developments
Over the weekend, the cryptocurrency market showed strength as Bitcoin made a big comeback from recent lows, rising above $119,300 and getting close to a key resistance zone that analysts think will decide the short-term price direction. A big sell-off happened when a Satoshi-era whale sold 80,000 BTC, and onchain data shows that Galaxy Digital handled the transaction for a client.
In the larger world of cryptocurrency, decentralized finance kept coming up with new ideas. For example, Divine Research, which is based in San Francisco, has given out about 30,000 unbacked short-term crypto loans since December utilizing Sam Altman’s World ID verification method. The platform’s goal is to help borrowers who don’t have access to traditional loans. It offers loans of less than $1,000 in USDC with interest rates between 20% and 30%, but it has a claimed first-loan default rate of 40%.
Traders are getting ready for perhaps bigger price swings in the near future, although the market is still cautiously hopeful. Analytics platforms have found extensive liquidation clusters near current price levels. CoinGlass data shows that BTC shorts will feel the most pain at roughly $119,650. If Bitcoin goes up to its all-time high of almost $123,000, short liquidations might reach more than $1.1 billion.
Bitcoin Ready to Rally Past $120,000
Bitcoin’s price movement has gotten a lot of attention as it gets closer to what crypto analytics platform Coinank calls “strong resistance” between $119,000 and $120,000. The cryptocurrency bounced back after a brief drop below $115,000 on Friday. The market swiftly adjusted to the volatility caused by the selling of 80,000 BTC. TheKingfisher, an expert, told traders to be ready for “potentially larger price swings in the near term.” Technical analysts say that $119.5K is a key breakout milestone that might decide if Bitcoin’s advance continues or present consolidation patterns persist.
Bitwise Chief Investment Officer Matt Hougan has a different take and said that 2026 might be a big “up year,” even though most people think it will be a down year because of the normal four-year cycle. According to Hougan, the four-year halve cycle “is dead” since halving is becoming less important, interest rates are becoming more advantageous, and institutions are adopting the technology more. He said that “blow-up risk is lower because of better regulation,” and he pointed to Bitcoin treasury businesses as a possible cyclical risk, repeating VanEck’s worries that corporations could be overextended by issuing too many stocks or taking on too much debt to buy Bitcoin.
XRP Price Prediction: Next Target $9?
XRP’s latest bullish crossover pattern has gotten a lot of attention from analysts since it shows how strong the coin is technically. Egrag Crypto says that XRP’s 21 EMA and 55 SMA weekly crossover has led to big price jumps in the past. For example, in March 2017 and August 2020, similar patterns led to gains of 40,000% and 750%, respectively. The crossover of this cycle, which happened in October 2024, has already caused a 560% climb from the trough in September. Analysts think that the price might reach $9 (based on a 1,500% rally) or even $24 (based on a 4,000% surge).
XRP hit a cycle high of $3.65 on July 18, but then it fell to test the $3.00 support level. It successfully defended this floor, which suggests it could become a new base. CasiTrades, a crypto expert, used Elliott Wave analysis to confirm that XRP finished a subwave 2 correction at the deep 0.854 Fibonacci retracement level. XRP needs to get back above the $3.21 resistance level for the next step to happen. If it does, it will likely advance toward $3.82, which is the 2.618 Fibonacci extension level. This might confirm the high price predictions based on the present bullish crossing pattern.
Litecoin Gains 30% in July
Litecoin has been one of the best-performing altcoins in July, gaining more than 30% even if the market as a whole has been slow lately. Tony Severino, a Chartered Market Technician, found an important change in Litecoin’s Average Directional Index (ADX) on the monthly timescale. It has crossed over the important 20 level, which suggests that a trend is forming after a long period of consolidation. The positive Directional Indicator (DI+) has found support at the ADX line and is presently rising, just like it did before Litecoin’s amazing 2017 rise from about $3 to $360, which was a mind-blowing 11,900% increase in price.
If the ADX keeps becoming stronger and eventually breaks through the important 25 level, it would confirm the creation of a strong rising trend. This would set Litecoin up for a possible big rise. Even if there hasn’t been much development in the last few weeks, the underlying structure is still strong, with higher lows emerging and important momentum indicators getting stronger. People in the market are keeping a close eye on whether the ADX can keep going up. If it breaks above 25, it might confirm hopes for another long bull run similar to Litecoin’s past performance in similar technical settings.
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