Bitcoin (BTC) is still stuck in a large range, but bulls are trying to keep the price above $60,000. This is a positive sign as it shows that bulls are buying and not waiting for the price to drop to $56,552. Spot Bitcoin exchange-traded funds (ETFs) appear to have reached a turning point, attracting net inflows over the past three days, according to data from Farside Investors.
However, according to Santiment data, the range-bound action of the past few months and the failure to break new highs above $73,777 have led to a decline in bullish sentiment across major social media platforms in recent weeks. The cryptocurrency analytics firm added that the decline in trader euphoria could signal a market bottom.
Along with Bitcoin, some analysts are turning positive on Ether. Matt Hougan, chief investment officer at Bitwise, wrote in a post on X that a spot Ether ETF could attract $15 billion in net inflows within 18 months of launch.
Will Bitcoin begin a recovery to $64,602, or could the price fall to $56,552? How are altcoins expected to behave? Let’s analyze the top 10 cryptocurrencies chart to find out.
Bitcoin Price Analysis
Buyers are finding it difficult to push Bitcoin above $62,500 in the short term, but the positive sign is that the price has not been allowed to drop or remain below $60,000.
If buyers push the price above $62,500, the BTC/USDT pair will attempt a rally to $64,602. This is a key resistance level that bears will need to defend, as a break above it could open the way for a rally to $70,000.
On the downside, a breakout and close below $60,000 would be a sign that the downside is under control. The pair could break down to the pivotal support at $56,552, below which buyers are expected to intervene as a fall could lead to a decline towards $50,000.
Ether Price Analysis
Ethereum (ETH)’s relief rally is facing selling at the moving averages, indicating that bears are active at higher levels.
If the price continues to fall below current levels, it means that sentiment is still negative and traders are selling in relief rallies. A downtrend will push the price below $3,200 and challenge the important support level of $3,000.
Contrary to this assumption, if the price rises above the moving average, a rally towards $3,730 is likely to begin. If the ETH/USDT pair declines from $3,730 but finds support at the 20-day EMA, a break above the overhead resistance increases.
BNB price analysis
Buyers are trying to defend the $560 support, but the BNB (BNB) recovery is facing selling at the 20-day EMA ($594).
If the price declines below $560, it will signal the start of the next downtrend towards $536. The bulls will try to stem the downside from this level, but if the bears prevail, the BNB/USDT pair could plummet to $495.
If the bulls want to stop the decline, they will have to push the price above the moving average. That would clear the way for a move to $635. A breakout and close above this level will put the bulls in the driver’s seat.
Solana Price Analysis
Solana (SOL) surged above the 20-day EMA ($143) on June 27, but selling is intensifying, fueled by declines at higher levels.
A flat 20-day EMA and RSI just below the midpoint suggest balance between buyers and sellers. If the bulls manage to keep the price above the 50-day SMA ($156), the tilt will be in their favor. This could open the door to a possible rally to $175 and then to $189.
Bears will have the upper hand if the price falls and holds below the 20-day EMA. The SOL/USDT pair could then fall to the solid support level of $116. Buyers are expected to strongly defend that level.
XRP Price Analysis
Bears have been trying to sink XRP (XRP) below the $0.46 support line over the past few days, but bulls have held their ground.
However, if the price fails to move above the moving averages, the risk of a breakdown increases. If the $0.46 support breaks, the XRP/USDT pair is likely to decline to the important support level of $0.41.
Alternatively, if the price rises from current levels and breaks above the moving average, it suggests that the pair will attempt a rally towards overhead resistance in the $0.57 range.
Dogecoin price analysis
Dogecoin (DOGE) has been stuck between $0.12 and $0.13 over the past few days, showing that bulls have successfully defended support but have failed to initiate a rebound.
The 20-day EMA ($0.13) showing a downward trend and the RSI in the negative zone indicate that the bears are in control. Sellers will try to keep the price below $0.12. This could lead to a drop in the DOGE/USDT pair to $0.10.
This negative view will be nullified in the near term if the price rises from current levels and breaks above the 20-day EMA. This signals the beginning of a recovery to the 50-day SMA ($14). The pair could then remain within the large range between $0.12 and $0.18 for a few more days.
Toncoin Price Analysis
Buyers pushed Toncoin (TON) above the $7.67 resistance level on June 27, but the price is struggling to maintain the breakout.
If the price moves lower and falls below the 20-day EMA ($7.39), it means bears are selling the rally. Afterwards, the TON/USDT pair may fall towards the 50-day SMA ($7). A close below $6.60 completes the bearish head-shoulders pattern. The pair could then fall to $6 and later to $5.50.
Conversely, if the price rises above the 20-day EMA and rises above $7.87, it means that the bulls are still in control. The pair could then rise to $8.29. If this level is extended, the rally could reach $10.
Related: Why did Bitcoin price rise today?
Cardano Price Analysis
Cardano (ADA) has fluctuated between $0.40 and $0.35 over the past few days, indicating a balance between supply and demand.
A decline in price from current levels suggests that the ADA/USDT pair may remain range-bound for some time. The first sign of strength is a close above $0.40. The pair could then move up to the 50-day SMA ($0.43), where the bears are expected to play strong defense again.
On the downside, a breakout and close below $0.35 would give the bears an advantage. The pair could then crash to $0.28.
Avalanche Price Analysis
Avalanche (AVAX) rose from $23.51 on June 24th and reached a downside of $29 on June 28th.
The 20-day EMA ($28.63) is flattening and the RSI is rising towards the midpoint, indicating that selling pressure is decreasing. If buyers push the price above $29 and hold, it will be a signal that the market has rejected the breakdown. The AVAX/USDT pair could rally to the 50-day SMA ($33.01).
Instead, if the price plunges from $29, it would suggest that the bears are trying to turn the level into resistance. The pair could then retest the solid support at $23.51.
Shiba Inu Price Analysis
Shiba Inu (SHIB) has been trading in a narrow range between $0.000016 and $0.000018 over the past few days, suggesting a balance between buyers and sellers.
The falling 20-day EMA ($0.000019) and RSI near the selling overheating zone suggest that the path of least resistance is towards the downside. If the $0.000016 level is broken, the SHIB/USDT pair may fall to $0.000014 and then to $0.000010.
Conversely, if the range turns upward, the pair could reach the $0.000020 level of breakdown. If the bulls push the price above this resistance level, it would mean a strong recovery towards the 50-day SMA ($0.000022).
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.