The post Will Bulls Make A Comeback This July? appeared on BitcoinEthereumNews.com.

The cryptocurrency market has displayed a weak price action since the month started, indicating an increase in the selling pressure within the crypto space. Moreover, the global crypto market capitalization has recorded a drop of 10.27% in valuation, from $2.53 Trillion on 1st June to $2.27 on 30th June. Furthermore, the elite cryptocurrencies continue hovering close to their crucial support levels, highlighting increased bearish sentiment in the crypto market. With the rising volatility in the cryptocurrency market, will the top three tokens record a bullish reversal this July or plunge toward their new lows? Dive in as, in this article, we have covered the price analysis and targets of Bitcoin, Ethereum, and XRP for the upcoming week. BTC Price Forms A Channel Pattern: The Bitcoin (BTC) price has formed a parallel channel pattern in the 1D time frame, suggesting a weak price action for the star crypto in the market. Furthermore, the BTC price is hovering close to its crucial support level of $60,819.50, the outcome of which is unpredictable. TradingView: BTC/USDT The Simple Moving Average (SMA) is on the verge of recording a bullish crossover in its price chart. This highlights an increase in the buying-over-selling pressure and a high possibility of a bullish reversal for the Bitcoin price in the cryptocurrency space. On the other hand, the technical indicator, RSI has successfully retested its oversold range. This resulted in the BTC token experiencing a positive convergence. If the market holds the Bitcoin crypto price above its crucial support level of $6,819.50, the bulls will head toward its resistance level of $67,775. Conversely, if the bears continue to dominate the market, the BTC price will plunge toward its lower support trendline. ETH Coin Price Displays Increased Bearish Action: Amid ongoing cross-border market correction, the Ethereum price has formed a…

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Filed under: News - @ June 30, 2024 6:26 pm