Bounces

• XRP might move up
• Solana taken over

An important turning point for Bitcoin is drawing near. Following an impressive period of growth that saw prices rise to recent highs of almost $110,000, the digital gold is currently trading at about $105,900. The chart’s price action reveals that Bitcoin is hovering just above the pivotal 26 EMA, which has turned into the final stand for bullish momentum. The market’s general structure is still cautiously optimistic. 

Bitcoin just recovered from the $104,000 mark, indicating that it has established a new support zone that has been holding up well. The next important level to keep an eye on is the 50 EMA, which is around $98,000. If the 26 EMA breaks, the price is probably going there. However, the volume has been decreasing, which indicates that traders are either worn out or awaiting the next action. 

BTC/USDT Chart by TradingView

There is still some bullish energy in the tank, but it is not overwhelming, according to the RSI, which is centered between 55 and 60. The recent highs would be regained and a rally to $110,000 would pave the way to a new all-time high. But the deal is not finalized yet. Order book data and liquidation heatmaps suggest significant resistance above $108,000, so if Bitcoin is to break out, it will need to cut through some strong sell walls. 

Bitcoin may drop quickly to the 50 EMA or even to the psychological $100,000 level if it is unable to stay above the 26 EMA. This would flush out leveraged longs and rebase the market. The ultimate line in the sand is still $110,000 in either case. A push past it that is successful would fuel a fresh rally, but a rejection would probably send Bitcoin plunging back into its consolidation range. Everyone is watching the chart, and the next few days are crucial: will Bitcoin’s final opportunity to reach $110,000 result in a vicious rejection or a breakout?

XRP might move up

The first obvious indications of a bullish reversal are being seen on XRP following a string of unrelenting declines and sideways consolidations. Many have been taken aback by the asset’s recent move of posting four days in a row of growth. It is a significant change following weeks of resistance to the 200 EMA and the declining trendline, which have slowed price momentum for the majority of the year.

Upon closer inspection, RSI levels have improved in tandem with XRP’s recent push above $2.25, suggesting increasing underlying strength. XRP has been steadily increasing since early 2025, according to the larger picture. During that phase, prices have tested and held the $2.10-$2.20 zone multiple times, and it now appears to be solid foundational support for a potential larger move.

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Given that major cryptocurrencies have also started to stabilize after months of volatility, it is extremely encouraging that these four days of gains coincide with a general market thaw. The market’s willingness to take on risk appears to be gradually returning, as evidenced by the slight increase in XRP volume.

But we are also reminded of the difficulties that lie ahead, according to the longer-term chart. The next major tests for any bullish continuation are the 50 and 200 EMAs, which converge in the $2.50 range and are still below XRP. If XRP gains momentum and breaks through these levels, the way to $2.70 and higher begins to become clear. 

However, the tone has shifted for the time being. The most encouraging price movement for XRP in months is the four-day green streak. Whether this is the beginning of a long-term upward trend or merely a temporary rebound is the question. In any case, it is a welcome indication of life on a market that has been struggling to find any indication of a positive trend. 

Solana taken over

By bouncing off its 50 EMA and putting on a strong rally back to the $160 zone, Solana has taken market observers by surprise. This follows weeks of turbulence and ambiguity that made many traders doubtful of any significant upward movements. There was a push above the 200 EMA after the market recovered from the 50 EMA, a crucial moving average that has served as crucial dynamic support during this cycle. It is a critical technical and psychological level that many believe to be the final significant obstacle before a longer-term uptrend can begin. 

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Now, Solana is just above $160, and it could move closer to the $180 resistance level that held back gains in May. A break through that $180 barrier would indicate that Solana is prepared to take on higher levels and has progressed past its consolidation phase. Given that the RSI is currently in neutral territory at 53, it appears that SOL is not yet in overbought territory and that additional upside is possible without immediately encountering strong selling pressure. 

Additionally, volume has begun to rise, indicating that this move is not merely a temporary relief rally but rather that there is genuine interest behind it. Let’s not mince words though: this is still a precarious situation. Since Solana has experienced several false starts in recent months, there is no assurance that this current move will not end if the mood of the market as a whole declines further.

A retest of $180 appears likely if buyers can maintain this momentum, but for now the break above the 200 EMA is encouraging. Now everyone’s watching to see if SOL can maintain these levels and sustain the bullish narrative. Although the market is difficult, Solana appears to be at last establishing itself — at least for the time being.

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