{"id":25633,"date":"2025-07-28T17:48:44","date_gmt":"2025-07-28T14:48:44","guid":{"rendered":"https:\/\/forklog.com\/en\/technical-analyst-warns-of-bitcoins-waning-bullish-momentum\/"},"modified":"2025-07-28T17:48:44","modified_gmt":"2025-07-28T14:48:44","slug":"technical-analyst-warns-of-bitcoins-waning-bullish-momentum","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/technical-analyst-warns-of-bitcoins-waning-bullish-momentum\/","title":{"rendered":"Technical Analyst Warns of Bitcoin’s Waning Bullish Momentum"},"content":{"rendered":"

The price of the leading cryptocurrency is trading sideways around the $120,000 mark. Options data on Deribit indicates a significant positive gamma for dealers at the $120,000 and $120,500 strikes, noted CoinDesk analyst Omkar Godbole<\/a>.<\/p>\n

In this scenario, traders buy on dips and sell on rallies to neutralize risks, which reduces volatility, the expert explained.<\/p>\n

\"Technical
Source: CoinDesk, Deribit\/Amberdata.<\/figcaption><\/figure>\n

The key support area is in the $116,000\u2013$117,000 range. Breaking this level could pave the way for a retest of the May high below $112,000. According to Godbole, a confident rise above $120,000 could lead to new historical records.<\/p>\n

Meanwhile, the daily three-line break chart signals an exhaustion of the upward trend.<\/p>\n

\"Technical
Source: CoinDesk, TradingView.<\/figcaption><\/figure>\n

At the time of writing, digital gold is trading at $118,556 (+0.3% over the day), according to CoinGecko<\/a>.<\/p>\n

Ethereum<\/h2>\n

Over the day, the second-largest cryptocurrency by market capitalization rose nearly 2% to reach a seven-month high of $3,937. However, the momentum was short-lived, and the price quickly corrected to $3,880.<\/p>\n

The 14-day Relative Strength Index (RSI) did not confirm the new high, indicating a bearish divergence and potential correction. The MACD histogram on the daily chart also forms a bearish crossover. On-chain metrics, such as fees and network revenues, are not keeping pace with the price increase.<\/p>\n

\"Technical
Source: CoinDesk, TradingView.<\/figcaption><\/figure>\n

The key support remains at $3,510. The main resistance zone is in the $3,900\u2013$4,100 range.<\/p>\n

The price of Ethereum stands<\/a> at $3,843 (+0.8% over 24 hours).<\/p>\n

XRP<\/h2>\n

Godbole noted that XRP retreated from the $3.35 resistance level, which previously acted as support.<\/p>\n

On the hourly chart, the RSI broke the upward trendline, and the MACD crossed the zero mark. This indicates a shift in momentum to bearish. Such a structure suggests a possible retest of the July 24 low at $2.96.<\/p>\n

\"Technical
Source: CoinDesk, TradingView.<\/figcaption><\/figure>\n

The weekly chart has formed a “tweezer top” pattern, which also signals a trend reversal.<\/p>\n

XRP is trading<\/a> at $3.19, up 0.1% over the day.<\/p>\n

Solana<\/h2>\n

The price of Solana has recovered above the Ichimoku cloud on the hourly chart. This indicates a resumption of upward momentum and a possible retest of the upper boundary of the ascending channel at $200.<\/p>\n

However, on the daily chart, the “tweezer” pattern remains active around $205\u2013$206. A move below the $184 support could trigger an accelerated decline to the 200-day moving average at $163.<\/p>\n

\"Technical
Source: CoinDesk, TradingView.<\/figcaption><\/figure>\n

The “people’s cryptocurrency” is priced<\/a> at $189.18 (+1.7% over 24 hours).<\/p>\n

Back in April, analysts at TD Cowen stated<\/a> that Bitcoin could reach $155,000 by December 2025.<\/p>\n

Later, experts at Fairlead Strategies forecasted<\/a> a rise in the leading cryptocurrency to $135,000, followed by a correction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The price of the leading cryptocurrency is trading sideways around the $120,000 mark. Options data on Deribit indicates a significant positive gamma for dealers at the $120,000 and $120,500 strikes, noted CoinDesk analyst Omkar Godbole. In this scenario, traders buy on dips and sell on rallies to neutralize risks, which reduces volatility, the expert explained. […]<\/p>\n","protected":false},"author":1,"featured_media":25632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,46,112,1159,1253],"class_list":["post-25633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-ethereum","tag-ripple","tag-solana-sol","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/25633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=25633"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/25633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/25632"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=25633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=25633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=25633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}