Crypto Price Analysis 6/25 – BTC, ETH, SOL, TON, DOGE, BNB, ADA, SHIB, MATIC

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This text provides price analysis for various cryptocurrencies, including Solana (SOL), Toncoin (TON), Dogecoin (DOGE), Binance Coin (BNB), Cardano (ADA), and Shiba Inu (SHIB), as well as Polygon (MATIC). The analysis covers the recent price movements and trends of each cryptocurrency, with a focus on key support and resistance levels, potential price targets, and market sentiment. Additionally, the text mentions the impact of Bitcoin’s price movement on certain cryptocurrencies. Overall, this text aims to provide insight into current market conditions and potential future price developments for these cryptocurrencies.

As a researcher studying the cryptocurrency market, I’ve observed that the Bitcoin (BTC) price dipped down to $58,474 on Monday. This price movement was indicative of BTC bouncing between its support and resistance levels. After an unsuccessful attempt to surpass the resistance, Bitcoin has been trending towards its support level.

As a crypto investor, I’m keeping a close eye on Bitcoin’s (BTC) current support level. It’s uncertain whether sellers will manage to force BTC down and fully dominate the market below this level. The outcome is still up in the air.

BTC Whales Cautious

Bitcoin cautious investors, represented by large transactions above $100,000, have been more reserved since the cryptocurrency dipped below its support level on June 21st. According to Santiment’s data, there were only 9,921 such transactions compared to the 17,091 recorded just two days earlier. Nevertheless, long-term investors might view this decline as a potential buying opportunity. Metaplanet, a Japanese investment and consulting firm, intends to issue bonds worth 1 billion yen to procure Bitcoin using the funds raised.

Bitcoin (BTC) Price Analysis

Bitcoin’s value took a dip last weekend, closing the previous week 1.70% lower on Sunday at $63,170. The current week commenced with Bitcoin in the red territory, as sellers dominated Monday’s session, causing the price to plunge to as low as $58,474. Buyers subsequently stepped in, driving the price back above $60,000. By the end of the day, the price had stabilized at $60,330.

BTC currently finds solid support around $60,000, causing buyers to enter the market and lift the price by 1.04% within this session. Presently, Bitcoin hovers slightly below $61,000. Moving forward, given the existing support at $60,000, it’s anticipated that buyers will re-enter if the price dips to this level. However, any upward trend may encounter resistance around $65,500 due to the bearish crossover between the 20 and 50-day Simple Moving Averages (SMAs). Conversely, should sellers take control, the support at $60,000 could be challenged, potentially leading Bitcoin to decline towards $57,500. The Choppiness Index suggests that the market is currently range-bound, and the Relative Strength Index (RSI) indicates that bears are currently dominating the market with oversold conditions.

Ethereum (ETH) Price Analysis

The Ethereum (ETH) price has been trending downwards since it failed to surpass the $4,000 resistance point in late May. On May 27, ETH came close to this level, reaching a peak of $3,972, but ultimately fell short. Over the past month, ETH has experienced a decline of more than 10%, with selling pressure increasing significantly in recent days. As a result, ETH dropped below its 50-day moving average (SMA) on Sunday, causing the price to slide down to $3,420 – a level that also saw ETH fall beneath the $3,500 mark.

In the past week, ETH experienced significant selling pressure at its onset, causing the cryptocurrency to dip as low as $3,241. Nevertheless, buyers managed to lift the price slightly, resulting in a 2% decrease to $3,352. At present, ETH is experiencing minimal growth, with purchasers attempting to recoup losses. Despite this, bears maintain a firm grip on the market, implying a potential reversal towards the significant support level of $3,000. Notably, the 200-day Simple Moving Average (SMA) lies at this point, adding further significance to the area.

The Relative Strength Index (RSI) has fallen beneath 50, signaling an increase in bearish sentiment. If sellers manage to break the significant support level at $3,000, Ethereum may decline further towards $2,800 and potentially reach $2,500.

Solana (SOL) Price Analysis

Solana (SOL) began the current week on an optimistic note after experiencing significant selling pressure throughout the previous one. On Monday, SOL encountered substantial selling pressure as bears attempted to drive the price beneath the vital support level of $130. This crucial support has been tested twice in April, with SOL bouncing back robustly each time. However, the question remains: will we witness another rebound or will SOL succumb to the downward pressure due to Bitcoin’s influence?

On Sunday, the price of SOL dipped down to $128.19, but buyers stepped in at this point, causing a rebound on Monday. However, the price encountered strong resistance and fell to $121.97 before buyers managed to push it upwards. This effort helped SOL surpass the important $130 mark and close at $132.33 for the day. Currently, sellers are dominating the market, with SOL rising by 1.61% to $134.46. If the bullish trend continues, SOL might break through its 20-day Simple Moving Average (SMA) and challenge the $150 mark. Conversely, if sellers regain control, SOL could potentially slide down to around $100.

Toncoin (TON) Price Analysis

As a crypto investor, I’ve noticed that Toncoin (TON) closed the last week on a positive note, recording a gain of 2.51% on Sunday, reaching a price of $7.51. However, this level proved to be quite challenging for TON, with sellers putting up a fierce defense. Consequently, TON experienced substantial selling pressure on Monday, causing its price to plummet as low as $7.09. Nevertheless, there’s a robust support level for TON at $6.60. Additionally, the 50-day Simple Moving Average (SMA) serves as another buffer, enabling buyers to regain control and push the price back up to $7.46.

Over the past 24 hours, TON has experienced a 4% growth, enticing investors to assess resistance levels anew. If this asset surpasses its current position, it may surge towards $8. Conversely, if sellers take charge once more, the $6.60 support could be revisited. A breach of this level might instigate a downward trend reaching $6 or possibly lower prices. The Relative Strength Index (RSI) is presently neutral, offering TON ample potential for upward price fluctuations.

Dogecoin (DOGE) Price Analysis

As a Dogecoin (DOGE) investor, I’ve witnessed DOGE’s remarkable resilience in the face of intense selling pressure on Monday. Over the weekend, DOGE had been bearish, resulting in a 1.61% decline to $0.12 by Sunday’s end. During Monday’s trading session, bears managed to push DOGE down to as low as $0.11. However, the current session has brought about a small yet notable recovery, with DOGE currently up by 2.53%, allowing it to reclaim its position above $0.12.

As an analyst, I’d rephrase it this way: The current support level for DOGE is at $0.12. If sellers manage to break through this level, the price could potentially slide down to $0.11 and even touch $0.09. Such a move would suggest that sellers are in control of the market’s momentum. Conversely, if buyers regain their footing and push DOGE above the $0.12 mark, we might witness an upward trend towards $0.15 due to continued bullish pressure. To initiate this bullish scenario, DOGE must first surpass both its 200-day and 20-day Simple Moving Averages (SMAs).

BNB Price Analysis

Since reaching its peak of $720 on June 6, Binance Coin (BNB) has witnessed a continuous decline. This trend is due to increased selling pressure which caused the price to drop below the $600 mark. On Sunday, the coin closed beneath its ascending trendline support, suggesting a potential shift towards bearish territory. The Relative Strength Index (RSI), currently resting below 50, also underscores BNB’s recent bearish trend, as depicted in the chart below.

As a crypto investor, I’m closely monitoring BNB‘s price action. Right now, the support level for BNB is at around $560. If this level gives way to sellers, we could see a 10% drop in BNB’s price, potentially taking it below $500 and revisiting its previous low of $498 from March. The trading session today has seen both buyers and sellers trying to gain control of the market. Despite reaching a high of $578 earlier, BNB is now trading at $571, indicating some strong resistance to the upward trend.

Cardano (ADA) Price Analysis

As a crypto investor, I’ve noticed that Cardano (ADA) hasn’t been fareing well since the beginning of June. The 20-day simple moving average (SMA) seems to be causing some resistance and pushing the price downwards. Every time ADA approaches this level, it gets rejected, resulting in a dip as low as $0.35 on the 18th of June. However, after a brief recovery, ADA has been bouncing between $0.38 and $0.40. The price of $0.35 serves as a solid support level for ADA, with buyers actively entering the market at this point. Nevertheless, if this support level is breached, we could see ADA sliding towards $0.30.

If a bullish outlook takes hold once more, Cardano (ADA) may advance and challenge the $0.40 resistance. Overcoming this barrier could pave the way for further gains towards $0.45 as the next objective for ADA.

Shiba Inu (SHIB) Price Analysis

As a crypto investor, I’ve noticed that SHIB‘s price trend has closely followed the broader correction in the cryptocurrency markets. Specifically, SHIB dipped beneath its 200-day Simple Moving Average (SMA) on June 18, marking a 6.42% decline. Following this, DOGE experienced significant volatility with selling pressure mounting near $0.000019, where the 200-day SMA served as resistance. DOGE dropped to $0.000017 on Monday, nearing a crucial support level at $0.000016. However, the current trading session has brought about a 1.41% increase in DOGE’s price, signaling potential buyer interest.

Experts have projected that the value of Dogecoin (DOGE) could dip down to $0.000016 before bouncing back, possibly reaching $0.000020 again. Recently, there have been signs of consolidation in DOGE’s market based on data from IntoTheBlock. This is evidenced by a decrease in large transactions carried out by whales.

Polygon (MATIC) Price Analysis

Matic’s value has noticeably decreased since the start of this month. The coin was priced at $0.72 on June 6th, but now hovers around $0.57. Though it has managed a nearly 4% rise in the last day, it has suffered a loss of over 20% during the past month. This significant downturn suggests that investors’ overall outlook towards Matic remains pessimistic. If Polygon’s bearish trend persists, we may witness Matic’s price fall to $0.50, reaching a new low last seen in October 2023.

If purchasers can continue to push back against the selling force during the present trading session, MATIC may encounter resistance at $0.60 and potentially surpass its 20-day Simple Moving Average (SMA). The digital asset could experience modest growth in the upcoming months if investor sentiment becomes more favorable.

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2024-06-25 14:10