Bitcoin briefly surpassed $110,000 on Wednesday after US President Donald Trump announced his administration and China had closed a trade deal, which now awaits his approval and that of Chinese President Xi Jinping.

The bulls, however, could not keep BTC at higher prices as rumors started circulating that Israel was planning to launch an attack on Iran without the American government’s consent. Despite the selling pressure, which has caused Bitcoin to plummet to $107,173 at press time, several analysts remain bullish on the asset.

Bitwise crypto researchers Ayush Tripathi and Andre Dragosch have stated in their latest report that Bitcoin’s price could rise to $230,000 by December 2025, driven by improved market sentiment and regulatory changes.

While Tripathi and Dragosch express optimism over Bitcoin’s future price performance, Santiment senior analyst Brian Quinlivan says the coin is unlikely to cross above the all-time high of $111,591 anytime soon, arguing that overbought levels have been achieved.

Can the bulls prove Quinlivan wrong by pushing Bitcoin above $111,591? If so, which barriers should we monitor keenly? Let’s identify them by analyzing the charts.

Bitcoin Price Analysis

BTC is currently under selling pressure after hitting the $110,518 resistance on June 11th. The good news is that the 20-day Exponential Moving Average of $106,412 hasn’t been violated, suggesting that the bears are in control only in the short term.

If Bitcoin reaches $106,412 and the bulls mount pressure, a surge to $111,591 could happen. Additionally, increased buying at the all-time high could enable the number one digital coin by market cap to head toward $120,000 and later to $146,800. Alternatively, a dip below $106,412 could mean that the bulls have given up on guarding higher levels. As such, the 50-day Simple Moving Average of $102,698 is likely to be the next target for the bears.

Ethereum Price Analysis

While Ethereum traded above $2,800 for the better part of Wednesday, the daily candle failed to close above that level, indicating that the bears were still in the market and determined to prevent a breakout. If they become dominant now, Ether could fall sharply to the 20-day Exponential Moving Average of $2,583. Even worse, if this key level is not guarded, we can’t rule out a dip to the 50-day Simple Moving Average of $2,335.27.

On the other hand, the bulls could improve their odds of fueling a rally to $3,000 if they keep Ethereum above $2,700.

XRP Price Analysis

Prices above $2.30 have attracted selling, making it difficult for the bulls to sustain. XRP has now plunged to $2.232, according to data from CoinGecko. The current value means the bulls couldn’t defend the support at the 20-day Exponential Moving Average of $2.265, giving the bears a short-term edge.

That said, increased selling could trigger a downtrend to $2.094 and subsequently to $1.948. However, if the bulls push and keep XRP above $2.265, the 50-day Simple Moving Average of $2.285 could give way, opening doors for a surge to the $2.641 resistance.

Dogecoin Price Analysis

The fallout between Elon Musk and Trump over the latter’s “Big Beautiful Bill” last week caused harm to Dogecoin, with the meme coin’s price plunging 10% to $0.1703 within minutes. However, the bulls bought the dip, prompting a rally to $0.1973 on Wednesday, but the selling pressure at higher levels has pulled the token’s price to $0.1853 as of this writing.

If profit booking persists, DOGE could see its value dip below $0.1703 and find support at $0.1649. On the bullish side, pushing the asset above $0.20 allows the buyers to extend their rally to the $0.2416 resistance.

Hyperliquid Price Analysis

Although HYPE is currently experiencing a price correction, it continues to trade above the downtrend line and the 20-day Exponential Moving Average of $35.81, signaling the bulls’ rising dominance.

If the buyers capitalize on their advantage, we expect the barrier at $42.27 to give way, allowing Hyerliquid to rally to the $46.53 resistance. Conversely, the $28.16 support could be the next stop for the coin if $35.81 crumbles.

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