BTC Tests Key Resistance as Technicals Point Toward $120,000
BTC (BTC) continued its steady climb on Tuesday, trading around $112,700 and edging closer to a critical resistance zone that could determine its next major move. The world’s largest cryptocurrency has gained roughly 1.6% over the past week, buoyed by optimism over potential U.S. Federal Reserve rate cuts, steady institutional inflows, and renewed market liquidity.
Technical indicators are split on the near-term outlook. Mixed signals remain with the majority of short- and medium-term moving averages flashing trade warnings. The moving average convergence divergence (MACD) indicator remains negative, while relative strength index (RSI) levels hover in neutral territory.
Market sentiment is being shaped not only by chart patterns but also by broader macroeconomic forces. fragileer U.S. jobs data and expectations of monetary easing have supported risk assets, while ongoing inflows into BTC ETFs have added institutional weight to the rally. Still, some forecasts, such as those from CryptoQuant’s AI model, anticipate short-term volatility and even a possible pullback toward $108,000 ahead of the Federal Reserve’s September 17 policy decision.
With BTC still roughly 11% below its all-time high, traders are watching the $113,000 resistance closely. A confirmed breakout could accelerate gains, but failure may leave BTC consolidating or sliding lower before its next leg.
ETH (ETH) is consolidating near $4,350, with intraday movement confined between $4,280 and $4,380. The second-largest cryptocurrency by market capitalization has shown resilience in recent sessions, reflecting both strong technical momentum and broader market optimism.
Multiple technical platforms are flashing bullish signals. A more cautious stance comes from others, who maintain a neutral outlook, highlighting mixed signals across short-term moving averages. MarketScreener similarly notes neutral sentiment in the short term, though its mid- to long-term view remains firmly bullish. Key resistance is identified near $4,830, while immediate support lies around $4,075.
Analysts view catalysts for further upside extending beyond chart patterns. Institutional interest, ETH’s staking dynamics, and growing stablecoin activity on its network are driving optimism. Forecasts for late 2025 place ETH targets between $5,800 and $7,500, with some projecting moves as high as $10,000. Recent reports highlight ETH’s role in decentralized finance and upcoming protocol upgrades as additional support for the bullish case.
For traders, the near-term focus is on the $4,400 level, which could open a path to $5,000 if decisively breached. Conversely, a slip below $4,300 may signal consolidation before the next directional move. With global liquidity conditions supportive and institutional demand steady, ETH’s technical setup suggests the potential for a strong rally into year-end.
