Bitcoin Faces $120K Hurdle—What’s Next for Ether, Solana, and XRP Prices?

Crypto Market Update: Bitcoin Eyes $120K, Altcoins Show Strength

11/7/2025

Bitcoin’s rally remains intact as it pushes into new highs above $118,000, but traders are keeping a close eye on the $120,000 level as the next significant hurdle.

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Bitcoin: $120K in Focus

Bitcoin (BTC) has gained momentum thanks to technical signals like a “negative dealer gamma buildup” and a bullish flag breakout in BlackRock’s IBIT product. Indicators remain bullish: the 14-day RSI sits above 70, while the MACD histogram prints higher bars above zero.

Still, caution is advised. With BTC in price discovery, pinpointing resistance levels becomes challenging. Options data from Deribit offers one clue: the $120,000 strike call has the highest open interest at $2.37 billion, marking it as a potential resistance level.

Meanwhile, a few signs hint at cooling demand. Coinbase’s premium flipped negative earlier today, suggesting weaker buying pressure in U.S. spot markets. Additionally, cumulative open interest in perpetual futures on offshore exchanges has dipped, signaling potential hesitancy among traders.

Short-term charts also bear watching. The hourly RSI suggests a possible bearish divergence that could trigger a brief correction.

• AI’s take: Despite bullish momentum, BTC’s climb into uncharted territory leaves room for a pullback.
• Resistance: $120,000
• Support: $113,666 (23.6% Fibonacci retracement from June low), $119,965 (May high)

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Ether: Breaking Out Above $2,800

Ether (ETH) has decisively broken through the $2,800 resistance zone, which held prices in check during May and June. Rising spot volumes and a bullish signal from the Guppy Multiple Moving Average system support the breakout.

ETH trades firmly above the Ichimoku cloud, while the RSI above 70 and a rising MACD suggest further upside potential. The next target is $3,066, corresponding to the 61.8% Fibonacci retracement of the December-to-April decline. Any pullbacks are likely to find support near $2,600.

• AI’s take: ETH’s move above $2,800 signals shifting sentiment and potential for further gains.
• Resistance: $3,066, $3,400, $3,525
• Support: $2,880, $2,600, $2,370

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Solana: Double Breakout Sparks Optimism

Solana (SOL) has surged to $166, confirming an inverse head-and-shoulders breakout and moving solidly above the Ichimoku cloud. The measured move from the chart pattern suggests a potential target near $200.

However, SOL faces resistance between $180 and $190—an area defined by May’s intraday highs. On the downside, $145 remains key support, with a breach likely to invite increased selling pressure.

• AI’s take: SOL’s dual breakout signals strong bullish momentum, but traders should manage risk carefully.
• Resistance: $180–$190 range, $200
• Support: $150 (100-day SMA), $145, $125

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XRP: Momentum Builds to Highest Since January

XRP has rallied to $2.58, its highest level since May 14. The 14-day RSI has pushed above 70 for the first time since January, indicating the strongest bullish momentum in six months. The MACD histogram also signals growing strength.

A move above the $2.65 resistance level—the May high—could open the path toward $3.00 and $3.39, the latter being XRP’s yearly high. Meanwhile, XRP’s perpetual futures open interest has reached a multi-month peak of 833 million XRP, suggesting strong market participation.

• AI’s take: XRP is showing significant bullish strength, pointing to further upside potential.
• Resistance: $2.65, $3.00, $3.39
• Support: $2.20, $1.90, $1.60

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Bottom line: Bitcoin’s next test sits at $120,000, which could dictate the pace of the broader crypto market. Meanwhile, altcoins like ETH, SOL, and XRP continue to show solid technical strength, offering traders opportunities—but also requiring careful risk management amid rising volatility.

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