Bitcoin Recovery Supported by Spot ETF Inflows
Bitcoin (BTC) continued its recovery, reaching $116,495 on Friday. This upward movement is underpinned by strong demand from spot Bitcoin exchange-traded funds (ETFs), which recorded approximately $1.7 billion in net inflows over the past week, according to SoSoValue data. Analyst Matthew Hyland highlighted an extreme Bollinger Bands tightness on the monthly chart, a condition historically preceding significant price volatility. Similarly, Crypto Ceasar noted on X that such tightness may herald heightened BTC price swings in Q4.
However, caution remains as CryptoQuant analyst JA Maartun observed cooling momentum, with 8 out of 10 signals in the CryptoQuant Bull Score Index turning bearish for Bitcoin, suggesting near-term uncertainty.
Bitcoin Price Levels to Watch
Bitcoin has surpassed resistance at $113,500 and the 50-day simple moving average (SMA) at $114,544. Immediate resistance lies at $117,500; a decisive break above could propel BTC toward $120,000 and potentially $124,474. Breaking above $124,474 may initiate a further uptrend toward $141,948. Conversely, a fall below the 20-day exponential moving average (EMA) at $112,622 could weaken bullish momentum, with support expected near $107,000.
Ethereum Eyes Upside Breakout
Ether (ETH) broke out of a narrow trading range, signaling bullish dominance. The $4,957 resistance is a critical hurdle, with significant selling pressure anticipated. A rejection here, followed by a rebound near $4,500, would increase the likelihood of an upside breakout targeting $5,500. Failure to hold above $4,250 could lead to declines toward $4,060 and possibly $3,500.
XRP Faces Resistance After Breakout
XRP briefly breached its downtrend line but has struggled to sustain gains. Failure to hold above the 20-day EMA at $2.93 could indicate a bull trap, with potential falls to $2.73 support. Alternatively, a rebound from the EMA and a move above $3.15 would signal a shift towards buying on dips, potentially driving XRP to $3.40.
BNB Hits New Highs, Targets $1,000
Binance Coin (BNB) reached a new all-time high, with bulls aiming to maintain price above $900. Sustained buying could push BNB to the psychological $1,000 mark, where sellers are expected to defend strongly. Support at the 20-day EMA ($868) will be crucial to maintain bullish momentum. A drop below this level risks a decline toward the 50-day SMA at $834.
Solana, Dogecoin, Cardano, and Chainlink Technical Outlook
Solana (SOL) gained momentum past $218 resistance, advancing toward $260, but faces strong selling between $240 and $260. A pullback to the 20-day EMA ($209) could precede a breakout to $295, while a close below the EMA would signal short-term weakness.
Dogecoin (DOGE) is attempting to hold above $0.26, with an upside target at $0.29. Surpassing this level could initiate a move toward $0.44. Failure to break resistance may result in range-bound trading between $0.14 and $0.29.
Cardano (ADA) closed above its descending channel’s downtrend line but faces resistance near moving averages. A rebound off the 20-day EMA ($0.85) could lead to rallies toward $0.96 and $1.02. A breakdown below support may trap bullish traders and push ADA lower.
Chainlink (LINK) broke above $24 resistance, with the 20-day EMA ($23.36) acting as key support. Holding above this level may lead to rallies toward $26-$28, while a breach could cause declines to the 50-day SMA ($21.84) and the uptrend line.
Hyperliquid and Sui Show Divergent Trends
Hyperliquid (HYPE) extended gains after breaching $49.88 but now faces overbought conditions, increasing pullback risk to this breakout level. A strong rebound here would confirm bullish control and target $64.25. Conversely, a drop below the 50-day SMA ($44.68) could signal a short-term top.
Sui (SUI) approaches its downtrend line, where sellers may defend aggressively. A rejection followed by support at the 20-day EMA ($3.48) could lead to a breakout and rally toward $4.18. Failure to hold the EMA and a drop below $3.11 would maintain bearish pressure.
Note: This analysis does not constitute investment advice. Market participants should conduct independent research and consider risks before trading.
FinOracleAI — Market View
The recent influx into spot Bitcoin ETFs is a positive catalyst, supporting Bitcoin’s ongoing recovery and potentially attracting further institutional interest. Altcoins such as BNB, HYPE, and SOL are demonstrating strong bullish momentum, which could drive broader market gains if sustained. However, mixed technical signals, especially bearish momentum indicators for Bitcoin, introduce downside risks in the short term. Market participants should monitor key support levels closely, as breaches could trigger sharper corrections. Upcoming price reactions at critical resistance points will be pivotal in confirming the next directional phase.
Impact: positive
