Bitcoin Faces Resistance Near $123K, Altcoins Show Strength
Bitcoin (BTC) is encountering significant resistance at its all-time high of $123,218, prompting caution among some analysts. Potential indicators suggest a distribution phase, with a possible retracement to $95,000. The 20-day SMA at $116,779 highlights a balance, with a move above $123,218 targeting $135,000.
Meanwhile, Ether (ETH) demonstrates strong bullish momentum, fueled by record Spot ETH ETF inflows exceeding $1 billion. ETH has surpassed $4,366, targeting $4,868, with support at $4,094.
Other altcoins like BNB, Chainlink (LINK), and Uniswap (UNI) are also showing positive technical setups, with potential for further upside if key resistance levels are breached.
*This is not financial advice.*