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BTC, ETH, SOL, and HYPE: A Technical Power Play Awaits—Which Will Break First?
With bullish breakouts looming and resistance levels facing crucial tests, the crypto market enters suspenseful territory. Open interest trends, funding rates, and chart patterns all point to imminent volatility across BTC, ETH, SOL, and HYPE. Will bulls or bears seize the advantage as summer unfolds? In-depth data and strategic levels follow below.
TLDR:
- BTC: Bullish above $105,000; needs spot strength to clear $110k-$112k. Target: $120,000.
- ETH: Range-bound ($2,420–$2,720), but setup leans bullish; breakout could target $3,280.
- SOL: Holding $144 support; upside aim $185, potential above $200 later in the year.
- HYPE: At major resistance—likely to pull back near-term before another run.
BTC:
- BTC’s open interest is up 10% from the $105k levels, revealing recent price gains are leverage-driven. Spot bids persist, but heavy asks meet price above $110k.
- Funding rate remains mostly positive, signaling a slight long bias, though it flips negative at times—suggesting leverage has not overheated yet.
- To break $110k–$112k, BTC needs a strong spot buying wave—leverage alone won’t do it.
BTC’s Open Interest (by USD value):
Technical analysis
- Bounced precisely at $106,000; confirmed our earlier calls of support holding strong.
- Just broke out of the broadening downtrend wedge; bullish structure above $105k persists.
- Key resistance stands at $110,700 and the record high, $112,000.
- Supports are $106,000 and the crucial $102,500–$103,500 zone.
- RSI has broken its downtrend line and is above its moving average—medium-term bullish.
- Next Support: $106,000
- Next Resistance: $110,700 (then $112,000)
- Direction: Neutral/Bullish
- Upside Target: $120,000
- Downside Target: $106,000
Cryptonary’s take
BTC’s bullish breakout remains intact despite a short-term pullback after macro data pushed interest rate cut expectations further out. ETF inflows still look strong; with macro shocks absent, we could experience some chop but expect BTC will build for a higher move in coming weeks. A clean break above $112k would target $120k first.
ETH:
- ETH open interest has risen modestly from late June lows, though it’s still subdued.
- Funding rate near flat (0.00%–0.01%), revealing minimal leverage risk and slight bullish bias.
ETH’s Open Interest (by USD value):
Technical analysis
- Textbook bounce from $2,160 support and reclaimed $2,420; now consolidating near $2,550.
- Key horizontal resistance at $2,720; $2,870 above that as next breakout test.
- Above $2,870, charts project $3,280 as the next target.
- RSI is attempting to break a downtrend and is backstopped by its MA—a bullish setup.
- Next Support: $2,420
- Next Resistance: $2,720
- Direction: Neutral/Bullish
- Upside Target: $3,050
- Downside Target: $2,420
Cryptonary’s take
ETH is back in its primary range. Expect more consolidation between $2,420 and $2,720 for another week or two, but technicals set up well for a bullish break. Accumulating ETH above the $2,420 range could yield significant upside, with a breakout targeting $3,000 and $3,280 in the months ahead. Range retests present opportunities for long-term entry.
SOL:
- SOL’s open interest is climbing after rebounding from $130 and reclaiming $144. Funding flip-flops neutral to positive, showing trader indecision.
- Spot buying is needed for a sustainable upside move.
SOL’s Open Interest (by USD value):
Technical analysis
- Breakout from the downtrend channel; price holds $144 as support.
- $144 is the key support; must hold for the bullish trend to persist.
- $155 is the first resistance above; $185 is the next major target to the upside.
- RSI is resetting with room to move higher, now supported by its MA.
- Next Support: $144
- Next Resistance: $155
- Direction: Neutral/Bullish
- Upside Target: $185
- Downside Target: $135
Cryptonary’s take
SOL’s structure is constructive if $144 support holds. Choppy summer price action is likely, but the breakout pattern points toward a retest of $185, followed by >$200 potential later in 2025. Accumulating near current levels ($144–$150) positions well for the next leg. Rangebound action may persist for now—smart money is prepping for a larger move later this year.
HYPE:
- Broke below its main uptrend and filled the support zone ($30.50–$33.00); now retesting $39.40–$42.00 resistance.
- Key resistance confluence around $40, while support remains strong in the previous buy box.
- RSI sits in middle territory with potential to swing up if supported, but price is struggling at this resistance cluster.
Technical analysis
- Expecting a pullback from resistance between $39.40–$42.00.
- Yellow Buy Box between $30.50–$33.00 remains a robust support for dip entries.
- RSI improving but price pattern short-term bearish.
- Next Support: $33.00
- Next Resistance: $42.00
- Direction: Bearish
- Upside Target: $42.00
- Downside Target: $30.50
Cryptonary’s take
HYPE has been a standout performer from the April lows, but it’s currently stalling at heavy resistance. A near-term pullback toward $30–$33 is likely, providing a long-term buy opportunity. More aggressive bids come into play if prices should drop toward $25–$30. Current pattern is short-term bearish before a potential new leg up later.
What’s next?
Market momentum is building across top cryptos, with both technical and on-chain signals close to critical inflection points. As summer ranges threaten to break, keeping an eye on spot vs. derivatives flows, key support holds, and resistance breakouts will be essential for timely positioning. Stay vigilant—the direction established in July may define Q3 outcomes.