The Ether Machine purchased 15,000 ETH at $3,809 each, spending $56.9 million as part of a long-term accumulation strategy. This latest buy raised its total holdings to 334,757 ETH, exceeding the Ethereum Foundation’s 234,000 ETH. The purchase was funded by cash from a prior private placement, with up to $407 million still reserved for future …
The Securities and Exchange Commission (SEC) has released new exchange filings that reveal “listing standards” for Exchange-traded products (ETPs). The new rules allow the tokens traded on Coinbase’s derivatives market for more than six months to qualify. SEC Releases Listing Standards The new SEC listing has a large number of new crypto ETPs, meaning they …
The White House has officially recognized Chainlink (LINK) as an essential component of the digital asset ecosystem. This acknowledgment comes from the recently published Digital Asset Report, which emphasizes the importance of decentralized oracles in the functioning of stablecoins and tokenized assets. Chainlink’s Importance In DeFi Market expert Quinten Francois highlighted this recognition on social media platform X (formerly Twitter), stating, “WHITE HOUSE JUST MENTIONED CHAINLINK.” The report underscores how oracles act as a bridge connecting external data sources to blockchain networks, enabling smart contracts to execute agreements based on real-world events and prices. Related Reading: BlackRock Staking For Its Spot Ethereum ETF Has Been Acknowledged — But What’s Coming For ETH? This functionality is crucial for decentralized applications (dApps) that facilitate a range of financial activities, including trading, lending, and earning rewards. Chainlink’s role becomes even more vital in the context of decentralized finance (DeFi), where dApps often serve as cross-chain bridges, allowing assets to move seamlessly between different blockchain networks. These wrapped assets, which exist on one chain but are represented on another, illustrate the growing complexity and interconnectivity of the blockchain ecosystem. New Era For The US Financial System Sergey Nazarov, co-founder of Chainlink, responded positively to the White House’s endorsement, expressing his appreciation for the administration’s commitment to advancing the blockchain industry. Nazarov noted that Chainlink’s recognition represents a critical moment for both the industry and the broader US financial system. Chainlink’s co-founder further noted: I think the president’s (Trump) clear placing of our industry as a national priority will be seen as a critical and historic moment for our industry and for the United States financial system’s role globally. Nazarov distinguished the report’s focus on oracles, particularly the Cross Chain Interoperability Protocol (CCIP), which according to his assessment highlights the innovative work being done by the Chainlink community to enhance smart contract capabilities. Related Reading: XRP, Dogecoin, And Shiba Inu Get Major Boost From Gemini Exchange Announcement Beyond its focus on Chainlink, the White House report outlines various recommendations aimed at structuring cryptocurrency markets and clarifying the regulatory roles of federal agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). An earlier report by Bitcoinist also notes that the White House encourages Congress to implement laws that embrace decentralized finance technologies, recognizing their potential to reshape traditional finance. Despite the optimism surrounding these developments, some industry leaders had anticipated further details regarding a federal Bitcoin (BTC) reserve, a topic notably absent from the report. During a press briefing, a White House official mentioned that infrastructure for this initiative is currently being developed, with more information expected in the near future. Despite this development, Chainlink’s native token, LINK, remained unfazed, currently trading at $17.80. Currently, the cryptocurrency is trading 66% below its record high of $52. Featured image from DALL-E, chart from TradingView.com
Federal Reserve Chair Jerome Powell’s comments dampened hopes for a September rate cut, which could lead to a slower crypto bull run, one analyst speculates.
Hank Huang, CEO of Kronos Research, said Ether ETFs offering yield through staking “flips the switch on demand,” boosting liquidity and greater onchain participation.
Ethena today is one of the hottest altcoins you can buy today. As it has registered a stunning 14% gain in the past 24 hours, while keeping its monthly gain at 145.61%. Priced at $0.6445, ENA’s market cap has grown to $4.09B, ranking it among the top rising DeFi tokens. Talking about drivers, the major …
Bolivia’s central bank has signed a cooperation agreement with El Salvador’s crypto regulator to help build a local digital asset ecosystem.
Bolivia has signed an agreement with El Salvador to promote crypto as an alternative to traditional currencies amid its ongoing economic crisis.
Cardano price started a fresh increase from the $0.7280 zone. ADA is now rising and might attempt a clear move above the $0.80 zone. ADA price started a fresh increase from the $0.7280 support zone. The price is trading below $0.80 and the 100-hourly simple moving average. There was a break above a key bullish trend line with resistance at $0.7710 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start a fresh increase it clears the $0.80 zone. Cardano Price Eyes Steady Increase After a sharp decline, Cardano found support near the $0.7280 zone, like Bitcoin and Ethereum. ADA formed a base above the $0.730 zone and started a decent increase. There was a clear move above the $0.7450 and $0.7650 resistance levels. There was a break above a key bullish trend line with resistance at $0.7710 on the hourly chart of the ADA/USD pair. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.8557 swing high to the $0.7287 low. Cardano price is now trading below $0.80 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.7920 zone and the 50% Fib retracement level of the downward move from the $0.8557 swing high to the $0.7287 low. The first resistance is near $0.80. The next key resistance might be $0.8080. If there is a close above the $0.8080 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.880 region. Any more gains might call for a move toward $0.920 in the near term. Another Decline In ADA? If Cardano’s price fails to climb above the $0.80 resistance level, it could start another decline. Immediate support on the downside is near the $0.770 level. The next major support is near the $0.7520 level. A downside break below the $0.7520 level could open the doors for a test of $0.7280. The next major support is near the $0.70 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.7520 and $0.7280. Major Resistance Levels – $0.7920 and $0.8000.
The combined ETFs now hold approximately 5.7 million ETH on behalf of their clients — 4.7% of ether's 120.7 million circulating supply.
Analysts highlighted concerns over the Fed's independence, with two Trump-appointed officials dissenting in favor of a rate cut on Wednesday.
As Ethereum turns 10 years old, the crypto community has gathered to celebrate the network that helped shape the industry over the past decade, with anecdotes from industry leaders and bullish predictions for Ether’s (ETH) upcoming price action. Related Reading: Analyst Says Bitcoin’s Final Leg Is Near – Time To Be ‘Cautiously Optimistic’? Ethereum Hits 10-Year Milestone Ethereum and the crypto community are celebrating the blockchain’s 10th anniversary by highlighting some of the ecosystem’s key events since 2015, like the ICO craze, the non-fungible tokensFT boom, The Merge, and spot exchange-traded funds (ETFs). In an X post, Unchained host Laura Shin listed some of Ethereum’s milestones, including its first spot in client diversity, Total Value Locked (TVL), and the number of ecosystem developers. Shin also emphasized the network’s 100% uptime rate during the last 10 years. One of Ethereum’s developers, Lefteris Karapetsas, commemorated the anniversary by sharing some pictures from July 30, 2015, stating, “We were a small team of hackers in an office in Kreuzberg in Berlin and we had just launched the Ethereum network. The rest is history. Looking back at the last 10 years, I am excited about the next 10 years, the next 25, the next 100.” Meanwhile, Coinbase CEO Brian Armstrong revealed how the US immigration system technically “contributed” to Ethereum’s creation: Fun fact: I met @vitalikbuterin in 2013 at the San Jose Bitcoin conference when he was writing for Bitcoin Magazine (his writing was great). A few months later I invited him to come by Coinbase’s first office in San Francisco for a visit and he showed us some cool stuff on his laptop. Armstrong explained that he tried to hire Vitalik Buterin in 2013, but due to a series of circumstances, including problems obtaining a US work Visa, Buterin was forced to return to Canada. “While he was stuck in Canada, he created Ethereum,” the CEO detailed, “So, in a way, the sub-optimal immigration system in the U.S. contributed to the creation of Ethereum.” Bankless co-founder David Hoffman jokingly replied that “Coinbase almost prevented Ethereum from ever happening.” ETH’s Birthday Fun Delayed? On its birthday, ETH started the day trying to reclaim the $3,800 mark, which some analysts consider the “last major resistance” before new highs. The King of Altcoins has been attempting to successfully break out from this level for over a week, with two failed attempts during this timeframe. At the start of the week, the cryptocurrency briefly surged above this level, hitting a seven-month high of $3,941 on Monday. However, the recent market pullback sent Ethereum back inside its local range. During the Wednesday celebrations, ETH’s price suffered 4% drop to the $3,680 area, fueled by the US Federal Reserve (Fed) announcement of its decision to leave interest rates unchanged. Nonetheless, it quickly recovered from the initial market reaction, which saw liquidations worth $212 million in just 60 minutes. Related Reading: Injective Targets $25 Amid Crucial Breakout Attempt – New Highs In Sight? Crypto analyst Ali Martinez affirmed that as long as the $3,300 support zone holds, ETH “could be on track for a move to $4,220 and potentially $5,140, based on the MVRV Pricing Bands.” Similarly, market watcher Merlijn The Trader noted that “liquidity is pulling Ethereum like a magnet. ETH is gravitating toward $4,000, the largest wall of resting orders in months. One clean push… and it detonates.” As of this writing, ETH is trading at $3,760, a 5% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Robinhood reported a strong performance in Q2 2025, with total revenue jumping 45% year-on-year to reach $989 million. The company’s crypto business was a major highlight, as revenue from cryptocurrency activities nearly doubled, climbing to $160 million. This surge reflects growing interest in digital assets and Robinhood’s ability to attract more users. The impressive gains …
The U.S. government has released its long-awaited crypto policy report under the Trump administration, signaling a sharp shift in favor of digital assets. The 160‑page Crypto Policy report outlines a coordinated vision for how crypto should be regulated, proposing guidance on stablecoins, decentralized finance (DeFi), self‑custody, tokenization of traditional assets, taxation, and anti‑money‑laundering reforms. Here’s …
The White House’s newly released Crypto Report confirms what many in the digital asset world have long suspected: the United States is quietly accumulating Bitcoin as part of a Strategic Reserve. While the exact amount of Bitcoin held by the federal government remains classified, officials have now publicly acknowledged that the U.S. does indeed maintain …
Over 10 million have been potentially targeted by a malware campaign designed to steal crypto and credentials, say cybersecurity researchers at Check Point.
Bengaluru police say hackers honey-trapped a CoinDCX engineer with a part-time job offer to install malware on his work laptop and steal about $44 million.
The top ETH holder, Bitmine Immersion Tech, previously announced that it aims to achieve 10% of the total supply of the cryptocurrency.
An analyst has pointed out how Pudgy Penguins (PENGU) is showing multiple TA signals that could hint that a rebound may be coming. Pudgy Penguins May Be Gearing Up For A Rebound In a new post on X, analyst Ali Martinez has talked about some signals forming in the hourly price of Pudgy Penguins. Below is the PENGU chart shared by Martinez, highlighting these bullish setups that have appeared recently. First, the Tom Demark (TD) Sequential has flashed a buy signal for PENGU. The TD Sequential is an indicator that’s used for locating points of probable reversal in any asset’s price. It involves two phases: setup and countdown. In the first phase, the setup, candles of the same color are counted up to nine, with the ninth candle marking a potential top or bottom for the asset. The countdown picks up where the setup left and goes on for another thirteen candles, before the price is considered to have arrived at another reversal. Related Reading: $141,000 Could Be Next Key Bitcoin Resistance If Price Breaks Higher, Report Says The TD Sequential has completed the former type of phase with nine red candles for Pudgy Penguins recently, which indicates that the cryptocurrency may be near or at a bottom. The second signal forming for the coin is the divergence between its price and its Relative Strength Index (RSI). The RSI keeps track of the speed and magnitude of changes occurring in a given asset. From the chart, it’s apparent that the metric fell into the area below 30 earlier. This zone corresponds to oversold conditions. It’s also visible, however, that it has since climbed back out of the region while PENGU has continued to decline. Such a divergence is usually considered to be a bullish signal. Lastly, the cryptocurrency is currently sitting near the support level of a short-term Parallel Channel. This pattern appears whenever an asset’s price consolidates between two parallel trendlines. There are three different types of Parallel Channels, but the version relevant here involves trendlines that are parallel to the time-axis. That is, the variant where the asset consolidates in an exactly sideways manner. The lower line of a Parallel Channel is assumed to be a source of support, while the upper one that of resistance. As such, given that PENGU is sliding down toward the bottom line of the pattern currently, it’s possible that it might find a turnaround. Related Reading: Bitcoin Buying Spree Ends On Coinbase: Temporary Pause Or Trend Shift? Given all these TA signals, a bullish rebound may be on the cards for the cryptocurrency. “All signs point to liftoff!” notes Martinez. It now remains to be seen how the coin will develop in the coming days. PENGU Price At the time of writing, PENGU is floating around $0.037, down 11% in the last seven days. Featured image from Dall-E, charts from TradingView.com
U.S. prosecutors argued that Tornado Cash’s emphasis on privacy wasn’t about protecting ordinary users, but about making “bags of money.”
XRP price started a downside correction below the $3.120 zone. The price is now attempting a recovery and might aim for a move above the $3.1650 level. XRP price is attempting to start a fresh increase from the $3.00 zone. The price is now trading below $3.180 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $3.150 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $3.00 zone. XRP Price Eyes Upside Break XRP price started a fresh decline below the $3.20 zone, unlike Bitcoin and Ethereum. The price declined below the $3.120 and $3.080 support levels. The bears even pushed the price below the $3.020 support zone. Finally, the bulls appeared near the $3.00 level. A low was formed at $2.999 and the price is now attempting a recovery wave. There was a move above the $3.050 and $3.080 levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $3.330 swing high to the $2.999 low. The price is now trading below $3.150 and the 100-hourly Simple Moving Average. There is also a bearish trend line forming with resistance at $3.150 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $3.150 level. The first major resistance is near the $3.1650 level. A clear move above the $3.1650 resistance might send the price toward the $3.20 resistance. Any more gains might send the price toward the $3.250 resistance or even $3.30 in the near term. The next major hurdle for the bulls might be near the $3.350 zone. Another Drop? If XRP fails to clear the $3.1650 resistance zone, it could start another decline. Initial support on the downside is near the $3.080 level. The next major support is near the $3.00 level. If there is a downside break and a close below the $3.00 level, the price might continue to decline toward the $2.920 support. The next major support sits near the $2.850 zone where the bulls might take a stand. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $3.080 and $3.00. Major Resistance Levels – $3.1650 and $3.20.
Ethereum price found support near the $3,680 zone. ETH is now rising and might soon aim for a move toward the $4,000 zone. Ethereum started a fresh increase above the $3,740 and $3,800 levels. The price is trading above $3,820 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $3,810 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,800 zone in the near term. Ethereum Price Eyes Fresh Gains Ethereum price started a downside correction from the $3,940 level, like Bitcoin. ETH price declined below the $3,900 and $3,800 support levels. The bears even pushed the price below the 50% Fib retracement level of the upward move from the $3,515 swing low to the $3,940 high. Finally, the price spiked below $3,700 and the 100-hourly Simple Moving Average. It tested the $3,680 support zone. The bulls protected the 61.8% Fib retracement level of the upward move from the $3,515 swing low to the $3,940 high. The price is again rising above the $3,750 level. There was a break above a bearish trend line with resistance at $3,810 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,820 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $3,880 level. The next key resistance is near the $3,920 level. The first major resistance is near the $3,940 level. A clear move above the $3,940 resistance might send the price toward the $3,980 resistance. An upside break above the $3,980 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120 in the near term. Another Drop In ETH? If Ethereum fails to clear the $3,880 resistance, it could start a downside correction. Initial support on the downside is near the $3,800 level. The first major support sits near the $3,720 zone. A clear move below the $3,720 support might push the price toward the $3,680 support. Any more losses might send the price toward the $3,565 support level in the near term. The next key support sits at $3,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,800 Major Resistance Level – $3,880
A new wave of buzz has hit the XRP community after an expert shared a teasing message on Twitter. Related Reading: XRP Traders Pull Back $2.4B—Brace For Impact Or Buy The Dip? Crypto analyst Armando Pantoja, a member of the Benzinga Crypto Advisory Board, said he just got off a call with contacts in Washington, D.C. and hinted that XRP is “about to explode.” He couldn’t give details, but he left a clear sign that something big might be on the way. His words “Big Move Incoming” and the tip that holders of at least 1,000 XRP are already ahead of the curve have pushed traders to watch the token more closely. How 1,000 XRP Stands Out According to data from the XRP Rich List, there are about 6.8 million XRP wallets in existence. Close to 6 million of those are retail wallets holding fewer than 1,000 XRP. Only 10% of wallets hold more than 2,438 XRP. Those numbers suggest that owning at least 1,000 coins puts you well above the average holder. Based on analysis, even 3,300 XRP—worth around $9,000 at today’s prices—could place an investor among the top tier of XRP owners. Just got off a call with my insiders in DC… I can’t say much, but $XRP is about to explode. I don’t know exactly when, but soon. If you’ve got 1,000 XRP, you’re already ahead of the curve. This could be the move that changes everything. — Armando Pantoja (@_TallGuyTycoon) July 29, 2025 Insider Teases Big Move According to Pantoja’s tweet, the timing of the coming news might be tight. He didn’t spell out when his contacts expect the “explode” moment. At the time of writing, XRP was trading at about $3.14. That makes a 1,000‑token stack cost near $3,000. If Pantoja’s hint proves accurate, early buyers could see strong gains. But the lack of specifics means it’s hard to know whether he’s talking about new rules from US regulators, an institutional deal, or just fueling excitement. Varied Expert Price Targets Some believe XRP could rally more than 300x to exceed $1,000 per token. And some analysts even suggested that price could hit that level as early as next year. For instance, analyst Jake Claver of Digital Ascension Group estimated that 6,000 XRP would generate $300,000 in annual income at a $1,000 price, enough for a comfortable US lifestyle in many areas. If you own any XRP, I believe you’re already ahead of a whole lot of people. The key is defining what “rich” means to you. Here’s a clip from my last stream with @digitaloutlook3 For some, it’s freedom from a 9–5. For others, it’s funding a dream lifestyle with passive income.… pic.twitter.com/zBzWJcKi76 — Jake Claver, QFOP (@beyond_broke) July 22, 2025 On the other hand, other market observers have urged investors to aim for 40,000 or 50k XRP—currently worth over $150,000—while planning for more moderate price goals. Those forecasts differ widely, reflecting both hope and caution in the community. What’s Next For XRP? In the end, Pantoja’s tip and the on‑chain figures give retail holders reason to pay attention. But without clear details from his D.C. contacts, it’s hard to say if this is a signal to buy more or simply another wave of hype. Related Reading: Countdown To August 15: What XRP Investors Need To Know Investors thinking of adding to their stacks should set clear goals, watch their risk, and have a plan in case the “Big Move” never lands. Whether you hold 1,000 XRP or 50,000 XRP, now might be the time to rethink your strategy—and stay ready for whatever comes next. Featured image from Meta, chart from TradingView
Bitcoin trades in a tight range despite bullish catalysts, as analysts warn of late-cycle fatigue and rising risks.
xTAO revealed that it holds a total of 41,538 TAO, making it the largest holder of Bittensor's native cryptocurrency.
The prices of top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP showed little to no movement over the past 24 hours, surprising many in the market. This pause in price action came immediately after the release of White House report on digital assets. On paper, the report should have been a bullish catalyst. Titled …
The staking of Ethereum by FTX and Alameda highlights ongoing asset management strategies amid bankruptcy, impacting creditor recovery timelines.
The post FTX and Alameda Research stake 20,736 Ethereum ahead of creditor payout appeared first on Crypto Briefing.
During its annual Q2 earnings call, Meta CEO Mark Zuckerberg doubled down on AI, chasing superintelligence for everyone.
Bitcoin (BTC) remains within a tight trading range following a recent pullback from its all-time high. At the time of writing, the world’s largest cryptocurrency is priced at $118,570, reflecting a 0.3% increase over the past 24 hours. Recent analysis shared on CryptoQuant’s QuickTake platform by market contributor ShayanMarkets highlights a noticeable change in Bitcoin’s futures market activity. According to the analyst, while previous price surges in the $70,000–$90,000 range were marked by significant speculative pressure and leverage buildup, the current trend shows signs of cooling despite elevated price levels. This shift could play a key role in determining Bitcoin’s trajectory in the coming weeks. Related Reading: Analyst Says Bitcoin’s Final Leg Is Near – Time To Be ‘Cautiously Optimistic’? Bitcoin Futures Market Shows Signs of Normalization ShayanMarkets explained that during past rallies, the futures market displayed what he called “heating and overheating phases,” often visible in red clusters on the volume bubble map. These periods typically led to corrections or temporary price consolidations as leveraged positions unwound. However, the current data reflects a different setup. Despite Bitcoin remaining near record highs, futures market activity has transitioned to neutral and cooling phases, shown by grey and green bubbles on the chart. The analyst noted that this cooling phase could be a sign of de-risking among traders, as speculative activity eases while spot demand supports the price. In a statement on QuickTake, ShayanMarkets said: This reset in leverage, despite BTC staying above $100K, signals healthier market conditions as demand shifts toward organic buying rather than high-risk speculative bets. The analyst added that if the reduced speculative pressure continues, it could provide the foundation for another significant price increase, potentially setting Bitcoin up to break past its previous all-time high above $123K. Long-Term Whales Take Profits Amid Price Stability Meanwhile, another analysis from CryptoQuant contributor CoinCare revealed selling activity from long-term Bitcoin holders, often referred to as “whales,” who have maintained their positions for over a decade. According to CoinCare, some of these holders, including those who first accumulated Bitcoin around 2013, have started to liquidate a portion of their holdings. This selling activity aligns with the historical timeline of Bitcoin’s sharp rise from under $100 to roughly $1,000 during that period, representing a potential 117,900% return for early adopters. Such profit-taking from early investors is not unusual during periods of elevated prices and does not necessarily indicate a shift in long-term market sentiment. Related Reading: Bitcoin Rejected At $120,000: Binance Whale Inflows Suggest Possible Drop To $110,000 Historically, whale activity has influenced short-term volatility but has also contributed to market redistribution, allowing newer participants to enter the market. Featured image created with DALL-E, Chart from TradingView
Bitcoin price is still above the $117,500 support zone. BTC is rising and might attempt to clear the $118,600 resistance zone to gain bullish momentum. Bitcoin started a decent upward move from the $116,000 zone. The price is trading near $118,500 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $118,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $118,620 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price started a downside correction from the $119,796 high. BTC declined below the $119,000 and $118,500 support levels to enter a short-term bearish zone. The bears pushed the price below the 50% Fib retracement level of the upward move from the $114,733 swing low to the $119,796 high. The decline gained pace and the price even spiked toward the $116,000 support zone where the bulls appeared. They protected the 76.4% Fib retracement level of the upward move from the $114,733 swing low to the $119,796 high. The price is again rising above $118,000. Bitcoin is now trading near $118,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $118,620 level. There is also a bearish trend line forming with resistance at $118,620 on the hourly chart of the BTC/USD pair. The first key resistance is near the $119,200 level. The next resistance could be $119,800. A close above the $119,800 resistance might send the price further higher. In the stated case, the price could rise and test the $120,500 resistance level. Any more gains might send the price toward the $122,500 level. The main target could be $123,200. Another Decline In BTC? If Bitcoin fails to rise above the $118,620 resistance zone, it could start another decline. Immediate support is near the $117,500 level. The first major support is near the $116,250 level. The next support is now near the $116,000 zone. Any more losses might send the price toward the $114,500 support in the near term. The main support sits at $113,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $117,500, followed by $116,250. Major Resistance Levels – $118,620 and $119,800.