Key Points:
Bitcoin is facing sales of nearly $109,000, but shallow pullbacks suggest that the uptrend could resume.
BNB and hype show strength broken above immediate resistance levels.
Bitcoin (BTC) started the week with Soft Notebook. Bitcoin is on track for a positive monthly end in June, as long as it’s above $104,600. If that happens, it’s just the second opportunity since 2020 that Bitcoin closed June with Green on a Coinglass data.
Bitcoin didn’t break from its all-time high at $111,980, making it unstoppable for investors to buy more. Coinshares data shows a $2.2 billion inflow into Bitcoin exchange trade products last week.
In addition to the stable inflow of ETFs, Bitcoin finance companies continued their purchases. Michael Saylor’s strategy has revealed the acquisition of 4,980 Bitcoin at an average price of $106,801 for the 11th consecutive week of Bitcoin purchases. Similarly, Metaplanet CEO Simon Gerovich said in a post on X that the company bought 1,005 Bitcoin at an average price of $107,601.
Is Bitcoin likely to exceed $106,000, or will the Bears discount below the level? How could Altcoins behave? Analyze and explore the charts of the top 10 cryptocurrencies.
S&P 500 Index Price Forecast
The S&P 500 Index bounced its 20-day index moving average (6,029) on June 23rd, showing positive emotions.
The Bulls continued to buy at a higher level, pushing prices up above the all-time high of 6,147 on Friday. If the price is maintained above 6,147, the index could rally to 6,500.
The seller may have other plans. They try to pull back prices below 6,147 and lock up aggressive bulls. The index may slide into a 20-day EMA. A strong bounce from the 20-day EMA strengthens the prospect of continuing the uptrend.
Conversely, breaks and closures below the 20-day EMA suggest that profit bookings by bulls. This could reduce the price to a simple 50-day moving average (5,827).
US Dollar Index Price Forecast
The US Dollar Index (DXY) broke support at 97.92 on Wednesday and closed it, indicating that the bears have overwhelmed the bull.
The average of both movements is tilted, indicating that the RSI is near the oversold territory, indicating that the bear is in control. Bulls are unlikely to give up easily, and try to push back prices beyond the 97.92 breakdown level. If they can accomplish that, the index could ralise at a 50-day SMA (99.28).
Alternatively, if the price fell from 97.92, it suggests that the Bears have turned the level into resistance. This could resume downtrends and attract prices to 95 levels.
Bitcoin price forecast
Bitcoin is facing sales in caves, but the positive sign is that the Bulls are not allowing prices to slip below the moving average.
It suggests that the bull is not in a hurry to book profits as he expects another leg to be higher. The upward moving average and the positive region RSI indicate that the path with the least resistance is upside down.
If prices exceed the downtrend line, the BTC/USDT pair can soar to the neckline of the reverse head and shoulder pattern. This is an important level for the Bears to protect. This is because breaks that exceed this indicate a resumption of uptrends.
The first sign of weakness is a below-moving average break. In that case, the pair will have a risk to support $100,000 after falling to $104,500.
Ether Price Prediction
Ether’s (ETH) recovery is facing sales near a 50-day SMA ($2,534), indicating that the bears are active at a higher level.
Both moving averages are flattened, and RSI is close to the midpoint, showing possible range binding effects in the short term. If the price is below $2,376, the ETH/USDT pair could drop to $2,323. Buyers are expected to vehemently defend the $2,323 level as breaks below the $2,323 level could sink to $2,111.
The advantage is that a break above the 50-day SMA will open the rally door to $2,738 and then $2,879. The next trend movement can fall below $2,111 with breaks above $2,879.
XRP Price Forecast
XRP (XRP) has been stuck in the $2 to $2.65 range for the past few days, buying near support and showing sales close to resistance.
The Bulls are about to push prices beyond the 50-day SMA ($2.25). Doing that, the XRP/USDT pair can try a rally to the top of the range for $2.65. Sellers try to keep the price within range by fiercely defending the $2.65 level.
If the price drops from the current level, it suggests that bears are selling in all minor rallies. Sellers try to strengthen their position by withdrawing prices below $2 support. If they can pull it apart, the pair could fall to $1.61.
BNB Price Prediction
BNB (BNB) breaks above the resistance line of the descending channel pattern on Sunday, suggesting that the fix could end.
There is mild resistance in the 50-day SMA ($654) but if the buyer doesn’t allow the price to be returned to the channel, the BNB/USDT pair will be $675, then $698.
This positive view will be void in the short term if prices drop sharply and fall below $636. It suggests that the market has refused to take a break on the channel. The pair could then be denied to $625.
Solana price forecast
Solana (Sol) emerged from $140 support on Friday, rising above the 20-day EMA ($148) on Saturday.
Buyers are looking to extend relief gatherings that exceed the 50-day SMA ($158). If they can accomplish that, the Sol/USDT pair could try to gather to a $185 overhead resistance. Sellers are expected to actively defend the $185 level as a break above that clears the rally path to $220.
Bears are $! Sinking prices below 40 support will lean in the Bears in their advantage. The pair then descends to $126, then $110.
Related: Ethereum risk: Price drops by 25% as “giant whales” move $237 million to the exchange
Dogecoin price forecast
Dogecoin (Doge) recovered to a 20-day EMA ($0.17). This is the first obstacle.
If prices drop significantly from the 20-day EMA, the Doge/USDT pair will be below $0.14 support. If that happens, sales will accelerate and the pair could fall to $0.10.
On the contrary, the breaks and closures above the 20-day EMA suggest that the pair could swing between $0.14 and $0.21 for some time. Buyers gain strength after propelling a pair that surpasses the $0.21 overhead resistance.
Cardano price forecast
Cardano (ADA) is rising near the 20-day EMA ($0.59), which could serve as a stiff resistance.
If prices drop and fall below $0.54, the ADA/USDT pair could fall into critical support at $0.50. Buyers are expected to defend a $0.50 level with all force to complete the triangle pattern where the break below it falls. This may initiate a downward movement to $0.40.
The advantage is that if a buyer pushes a price beyond the 20-day EMA, the pair could reach a 50-day SMA ($0.67). A change in trend is shown after the buyer drives the pair over the downtrend line.
High lipid price forecast
High lipids (hype) broke beyond Sunday’s $39.12 resistance, indicating the Bulls are back in the game.
The hype/USDT pair could rise to $42.50 and then $45.80. Sellers are expected to vehemently defend the $45.80 level, but if the Bulls win, the pair could surge to a $50 psychological level.
The initial support on the downside is a 20-day EMA ($37.55) and a 50-day SMA ($34.76). Sellers should subtract a price below 50 days SMA to weaken the bull. The pair can then fall to $30.69.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
