Bitcoin Holds Below $120K, Ethereum and XRP Weaken, Solana Stalls Under Resistance

Bitcoin remains capped below $120,000, showing limited movement despite high trading volume in the options market. Dealer positioning at the $120,000 and $120,500 strike prices has created a trading band, where most activity is driven by hedging behavior. This setup forces market makers to buy dips and sell rallies, compressing price swings.

A break below the $117,000 level would bring the May high near $112,000 into play. On the upside, $120,000 remains a ceiling that has not been breached on a daily closing basis for over a week.

The three-line break chart registered a negligible 0.12% gain on July 22, pointing to a stall in upward movement. That small reading is often a sign of slowing participation, especially after sustained gains earlier in the month.

Resistance Levels: $120,000, $123,181
Support Levels: $117,000, $114,700, $111,965

Ethereum Pulls Back from Seven-Month Peak

Ethereum briefly touched $3,937 before pulling back to the $3,880 area. While the price moved above last week’s range, technical confirmation was lacking. The 14-day RSI did not follow price to a new high, setting up a divergence. At the same time, the MACD histogram narrowed, approaching a negative crossover on the daily chart.

The protocol’s on-chain metrics haven’t kept up with the price move. Network fees and revenue remain flat, which could limit further gains unless user activity increases.

A failure to hold $3,510 would shift focus to lower levels. Immediate resistance remains at $4,000 and $4,100, where sellers have consistently emerged since the start of Q2.

Resistance Levels: $4,000, $4,100, $4,382
Support Levels: $3,770, $3,510, $3,000

XRP Turns Lower After Rejection at $3.35

XRP reversed earlier gains after testing $3.35, a level that had previously served as support before turning into resistance. The reversal was confirmed by short-term indicators: the RSI broke below its trendline on the hourly chart, and the MACD histogram turned negative.

The next downside target is $2.96, the low from July 24. If that fails, price could revisit the May high at $2.65. Weekly candles show a tweezer top pattern at $3.65, which historically signals a price peak when confirmed by weakness in the following sessions.

Resistance Levels: $3.35, $3.65, $4.00
Support Levels: $2.96, $2.65, $2.44 (200-day SMA)

Solana Trades Near Upper Channel but Faces Heavy Selling

Solana is currently holding above its hourly Ichimoku cloud, but price remains below the $205–$206 level, where a daily tweezer top was established. That formation has not been invalidated, and volume at higher levels continues to thin.

The $184 mark is the higher low to watch. A close below this could open the path to the 200-day moving average near $163. Traders remain cautious here, as prior rejections from this area have triggered multi-session declines.

Resistance Levels: $205–$206, $218, $252
Support Levels: $184, $163, $126

Charts Stay in Range With No Follow-Through on Breakouts

So far, every upside test this week across majors has either stalled at resistance or faded into declining volume. Bitcoin’s move above $120,000 didn’t trigger a follow-up. Ethereum has failed to hold daily closes above $3,400. XRP is rolling over below its 20-day average. Solana remains capped below $206, with no invalidation of its tweezer top.

No major coin has reclaimed a broken trendline or made a convincing higher high. Until one does, price action across the board remains range-bound and reactive, with short setups near resistance still finding more traction than long entries.

Also Read: Solana Could Reach $500 Billion in Market Value Within Five Years