Bitcoin News Today: Bitcoin Trapped in Narrow Range as Analysts Await Breakout

Generated by AI AgentCoin World
Wednesday, Aug 6, 2025 9:31 pm ET2min read
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Aime RobotAime Summary

- Bitcoin consolidates between $112,000-$115,720 as analysts highlight investor indecision ahead of potential breakout.

- Tom Lee forecasts BTC could reach $200,000-$250,000 by year-end if buyers push above key resistance levels.

- Ethereum, XRP, BNB, and other major cryptos face similar technical challenges with defined support/resistance ranges.

- Market remains in consolidation phase, awaiting macroeconomic clarity or ETF inflows to determine next directional move.

Bitcoin (BTC) is currently consolidating within a narrow trading range of $112,000 to $115,720, with analysts noting investor indecision ahead of a potential breakout [1]. The asset has found support at the 50-day SMA of approximately $112,619 and faces resistance near the downward-trending 20-day SMA of $116,804. Should buyers push BTC above this level, the price could target $120,000 and potentially test the all-time high of $123,218. A breakdown below the 50-day SMA, however, could lead to a drop toward $105,000 and then $100,000. Tom Lee, a prominent analyst, remains bullish, forecasting a potential climb to $200,000 or even $250,000 by year-end [1].

Ethereum (ETH) has shown resilience with buyers defending the 20-day SMA at $3,675, although the resistance at $3,745 remains intact. If bulls push past this level, ETH could move toward $3,941 and $4,094. A pullback below the 61.8% Fibonacci retracement at $3,300 could undermine the positive outlook, potentially leading to a decline toward the 50-day SMA of $3,058 [1].

XRP is currently oscillating between the 50-day SMA near $2.69 and the 20-day SMA at $3.16, with a breakout expected to determine the next direction. A rise above $3.16 could set the stage for a move toward $3.33 and $3.66, whereas a breakdown below the 50-day SMA may trigger a drop to $2.40 [1].

BNB’s recent rally faces selling pressure at the 20-day SMA of $774. A successful push past this level could take the price toward $794, $815, and eventually $861. However, a sharp reversal at this SMA may lead to a decline below $732 and toward the 50-day SMA at $706 [1].

Solana (SOL) has retreated to the 50-day SMA at $162, indicating increased selling pressure on rallies. With moving averages and RSI near the midpoint, the market remains uncertain. A strong rebound could push the price toward the 20-day SMA at $178, and a move above $185 could target $209. A breakdown below $155, however, may see SOL drop to $144 and further to $137 [1].

Dogecoin (DOGE) is currently defended at the 50-day SMA of $0.19, but faces resistance near $0.21. A break above $0.21 could push DOGE toward the 20-day SMA at $0.22, although strong selling pressure is anticipated. A breakdown below the 50-day SMA may lead to a fall toward $0.17 and potentially $0.14 [1].

Cardano (ADA) has bounced off the 50-day SMA near $0.68 but faces selling pressure at $0.76. With flat moving averages and RSI below the midpoint, a sideways trend is likely. A breakout above the 20-day SMA at $0.79 could push ADA toward $0.86, while a breakdown below the 50-day SMA may send it toward $0.56 [1].

Hyperliquid (HYPE) has struggled near the 50-day SMA of $40.99, with bearish sentiment gaining strength as indicated by RSI and moving averages. A breakdown below $35.50 could push HYPE toward $32. Buyers must push the price back above the trading channel to signal a potential end to the correction [1].

Stellar (XLM) turned down after touching the 20-day SMA at $0.42, with bears selling into rallies. The price may test the 50-day SMA at $0.34 before finding temporary support between the two levels. A breakout above the 20-day SMA could end the correction, while a breakdown below the 50-day SMA may see the price fall to $0.29 [1].

Sui (SUI) has retreated to the 50-day SMA at $3.32, with bears maintaining control. The 20-day SMA at $3.75 is trending downward, and RSI below 45 suggests bearish momentum. A drop from this level increases the likelihood of a breakdown below the 50-day SMA, with possible support at $2.87 and $2.65. A move above the 20-day SMA could trigger a relief rally toward $4 and resistance at $4.30 [1].

Overall, the crypto market appears to be in a consolidation phase, with analysts anticipating a clearer direction following macroeconomic developments or potential inflows into crypto ETFs [1].

Source: [1]Price Predictions for BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, XLM, and SUI on August 6............................(https://coinmarketcap.com/community/articles/6893ff38a6cc7553011eb032/)