$BTC and ETH hold key levels as traders eye next breakout

Bitcoin is holding firm above $108,000, trading at $108,387 as of 8 July. Despite a slight daily dip, longer-term indicators support a bullish trend.

The Relative Strength Index remains neutral at 58.7, while the Stochastic RSI indicates short-term overbought conditions, hinting at a potential pause in momentum.

Shorter timeframes reveal signs of indecision. On the hourly chart, over half of key moving averages lean bearish, and the 4-hour chart shows converging exponential moving averages and tightening Bollinger Bands.

Such patterns often suggest an incoming burst of volatility. Bitcoin faces immediate resistance at $109,700 and $110,000, with a breakout possibly clearing the path to $112,000 or even $137,000. On the downside, traders closely watch support at $107,000 and $105,400, with further risk below $102,000.

Ethereum remains steady at nearly $2,555, trading within a narrow range of $2,500 to $2,600. All major moving averages signal a continued bullish bias, although oscillators such as the RSI (54) and Stochastic RSI (near 85) show signs of exhaustion.

Resistance levels lie between $2,600 and $2,620, with a more decisive breakout potentially driving ETH toward $3,000 or even $4,100. Key support zones are found at $2,500 and $2,440. While short-term caution is warranted, overall, the structure remains optimistic as institutional support strengthens ETH’s position.