Bitcoin News Today: Bitcoin Bounces Off $115,720 as Analysts Watch $120,000 Breakout Potential

Bitcoin (BTC) has shown a notable recovery, crossing the $115,720 resistance level, but faces immediate selling pressure along a downtrend line. Analysts note that if BTC fails to maintain support above $116,900—according to Glassnode’s report—this could signal renewed bearish momentum, possibly driving prices toward $110,000[1]. Conversely, a breakout above the $120,000 resistance could lead to a retest of the $123,218 zone and ultimately open the door to $135,000[2]. The 50-day simple moving average at $113,111 represents an early warning sign of potential weakness.

Ether (ETH) showed resilience, having surpassed the $3,745 level and testing $4,094[3]. Analysts suggest that if ETH breaks above $4,094, it may re-enter an uptrend, aiming for $4,868. A breakdown below the 20-day SMA could, however, lead to consolidation between $4,000 and $3,400[4].

XRP (XRP) is attempting to reclaim $3.66 after briefly surpassing the 20-day SMA. If bulls succeed in pushing the price above this level, XRP could see further gains. A failure to maintain support at the 20-day SMA may push the price back toward $2.95[5]. Meanwhile, BNB (BNB) has crossed the 20-day SMA, with resistance expected at $794 and $815. A break above these levels may lead to a retest of BNB’s all-time high at $861[6].

Solana (SOL) remains in a tight battle near the 20-day SMA at $178. A breakout above this level could drive the price toward $195, while a drop below the 50-day SMA at $155 may lead to further declines to $137[7]. Dogecoin (DOGE) is currently consolidating near the 20-day SMA at $0.22, with potential movement either upward to $0.26 or downward between moving averages[8].

Cardano (ADA) has moved above the 20-day SMA at $0.78, signaling positive buying interest. If this momentum continues, ADA could target $0.94 and potentially $1.17. A breakdown below the 20-day SMA may result in limited range-bound trading[9]. Hyperliquid (HYPE) is at a critical juncture near its moving averages. A successful breakout may lead to a rally toward key support levels, while a breakdown could see the price fall to $32[10].

Stellar (XLM) broke above the 20-day SMA at $0.42, suggesting the end of a correction phase. If XLM holds above $0.46, it could push toward $0.61. A fall below the 50-day SMA at $0.35 would signal renewed bearish control[11]. Sui (SUI) has moved above the 20-day SMA at $3.75, with potential to target $4.30 and beyond. A decline below the 50-day SMA would indicate renewed bearish dominance[12].

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Source:

[1] Cointelegraph, [https://cointelegraph.com/news/price-predictions-8-8-btc-eth-xrp-bnb-sol-doge-ada-hype-xlm-sui?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound](https://cointelegraph.com/news/price-predictions-8-8-btc-eth-xrp-bnb-sol-doge-ada-hype-xlm-sui?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)