Bitcoin News Today: Bitcoin Rebounds Above $115,720 Amid Key Support and Resistance Levels

Bitcoin (BTC) has shown a strong recovery on Thursday, rising above $115,720 but facing immediate resistance at a downtrend line. Analysts suggest that as long as the price remains above $116,900—the average cost basis for key holders—the bulls may be regaining control. However, if the price drops below this level, BTC risks falling toward $110,000. A sustained rally above $120,000 could open the door to a retest of $123,218 and eventually $135,000, while a break below the 50-day simple moving average ($113,111) would signal increased bearish pressure [1].

Ether (ETH) has also shown signs of strength, with buyers pushing the price above $3,745 and $3,941 on Thursday and Friday, respectively. The next key resistance is at $4,094, where sellers are expected to intervene. A break above this level could trigger a rally toward $4,868, while a drop below the 20-day SMA could lead to consolidation between $4,000 and $3,400 [1].

XRP (XRP) rebounded from $2.95 and rose above the 20-day SMA on Thursday. The bulls are aiming to push the price toward $3.66, but the bears are expected to mount a strong defense. A break above $3.66 could lead to a test of higher levels, while a drop below the 20-day SMA would indicate ongoing selling pressure. A sustained move below the 50-day SMA would signal further bearish momentum [1].

BNB (BNB) pierced the 20-day SMA ($779) on Thursday, indicating easing selling pressure. However, resistance at $794 and $815 remains key. A successful breakthrough could see the pair retest the all-time high of $861. Conversely, a close below $761 would suggest weakness, potentially leading to a decline toward $732 or $712 [1].

Solana (SOL) held its ground above the 50-day SMA ($163) on Wednesday and has now reached the 20-day SMA ($178). A break above this level could lead to a test of $195, with strong resistance expected at $185. A breakdown below the 50-day SMA and $155 would open the door to a potential drop toward $144 or $137 [1].

Dogecoin (DOGE) rebounded from the 50-day SMA ($0.19) and is now at the 20-day SMA ($0.22). With moving averages and RSI near neutral, the price may consolidate for now. A break above $0.25-$0.26 could signal bullish momentum, while a sharp drop from the 20-day SMA would suggest bearish resistance [1].

Cardano (ADA) has reached the 20-day SMA ($0.78), showing solid buying interest at $0.69. A sustained rally above $0.78 could push the price toward $0.86 and $0.94. If bulls break through $0.94, further gains toward $1.17 are possible. Conversely, a drop below the 20-day SMA would indicate weak demand at higher levels [1].

Hyperliquid (HYPE) has returned to key moving averages, with bears expected to defend these levels. A breakdown below $36 could push the price toward $32, while a break above the moving averages may signal the end of a correction [1].

Stellar (XLM) has broken above the 20-day SMA ($0.42), indicating the end of a potential correction. A sustained move above $0.46 could see the price test $0.52 and potentially rise to $0.61. A breakdown below the 50-day SMA ($0.35) would signal a return of bearish control [1].

Sui (SUI) surged above the 50-day SMA ($3.36) and is now approaching the 20-day SMA ($3.75). A sustained rally above this level could push the price toward $4 and $4.30. A break above $4.44 could target $5, while a sharp drop from the current level may result in a return to the moving averages [1].

The article notes that altcoins could see a surge of 200% to 500% in the next 2–4 months, according to Michaël van de Poppe of MN Trading Capital [1].

Source: [1] Price predictions 8/8: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, XLM, SUI (https://cointelegraph.com/news/price-predictions-8-8-btc-eth-xrp-bnb-sol-doge-ada-hype-xlm-sui)