Crypto Price Analysis 6/28 BTC, ETH, BNB, SOL, TON, AVAX, LINK, LTC

In summary, the price analysis for TON, AVAX, and LTC shows that each cryptocurrency has experienced fluctuations in price over the past week. TON saw a bullish trend resume after holding its support at $7, while AVAX found support at $25 and rallied back above it, reaching resistance levels at $28 and $30. Chainlink (LINK) is currently trading below its 20, 50, and 200-day SMAs after a bearish trend since the beginning of the month, with potential support at $13 and resistance at $15.50. Litecoin (LTC) saw a drop to its lowest levels since February but has since recovered, with potential support at $70 and resistance at $75. Buyers are currently in control of the market for all three cryptocurrencies, but sellers could potentially push prices down if they overwhelm support levels.

The near-term outlook for cryptocurrencies is uncertain, but there’s still hope for recovery. Bitcoin‘s price has been unable to surpass the $62,200 and $62,400 thresholds recently.

Bitcoin experienced a weekly decline of 4.48% at the onset, with sellers applying significant pressure and driving the cryptocurrency down to a low of $58,474. However, purchasers managed to reclaim control above the $60,000 mark.

Bitcoin Spikes On Back On Trump-Biden Debate

Bitcoin experienced a surge of over 1% in value, fueled by heightened bets on Republican nominee Donald Trump in the presidential race following the first debate with incumbent Joe Biden. Before the debate commenced, Bitcoin was priced below $62,000; however, its value subsequently rose above this threshold as both candidates responded to questions posed by CNN moderators.

As a crypto investor closely following political events and the PredictIt platform, I’ve noticed an intriguing shift in the odds for the upcoming presidential election. According to data from this prediction markets platform, it appears that President Trump’s chances of winning have seen a significant boost post-debate. On the other hand, Vice President Biden’s odds have seemingly taken a hit after his performance during the debate left some areas for improvement.

Bitcoin (BTC) Price Analysis

On Monday, the Bitcoin (BTC) price dipped down to $60,000 due to selling efforts trying to break the support level. Nevertheless, buyers stepped in at this price point on Tuesday, causing a 2.52% recovery and an uptick to $61,848. Selling pressure resurfaced on Wednesday, resulting in a 1.61% decrease. Despite this, sellers failed to push the price below $60,000 once more. Buyers regained control on Thursday, pushing the BTC price up to $61,691. However, during the current session, Bitcoin is experiencing a drop as both buyers and sellers vie for dominance.

The Bitcoin price is encountering various obstacles that are preventing it from advancing. According to the price graph, Bitcoin has been unable to surpass the thresholds of $62,200 and $62,400. On Tuesday, Bitcoin reached a high of $64,458 but was subsequently pushed back down by sellers. This pattern repeated on Wednesday and Thursday as buyers attempted to drive the price above $65,000. However, sellers have been actively defending this level, leading the price to retreat each time. In the current session, Bitcoin has managed to surpass the $62,000 mark but has since retreated once more.

As a market analyst, I would assess the current situation by stating that if Bitcoin (BTC) fails to break above the resistance level at $62,500, there’s a possibility for another decline. Should this occur, the support levels to watch are at $60,000 and $58,000 respectively. If buyers manage to push BTC above $62,500, we may witness a continuation of the uptrend towards $65,000.

Ethereum (ETH) Price Analysis

The Ethereum (ETH) price experienced a substantial decline starting from early June. On Monday, ETH plunged to $3,352 due to heavy selling pressure from bears aiming to drive the price down to $3,000 as depicted in the chart. Yet, buyers emerged at this support level and managed to lift the price back above $3,350. Following this drop, ETH has bounced back robustly, with the price heading toward $3,500 and erasing earlier setbacks.

As an analyst, I’ve observed that Ethereum (ETH) experienced a 1.28% growth on Tuesday, falling slightly short of hitting the $3,400 threshold. The trend took a bearish turn on Wednesday as ETH dipped to a low of $3,328. Despite this, buyers managed to push the price back up to $3,369 by the end of the day. Thursday brought another robust performance for Ethereum, with a 2.34% surge and a closing price at $3,448. In the current session, buyers aim to propel ETH beyond $3,500, but sellers are fiercely guarding that level.

As a crypto investor, I believe that if Ethereum (ETH) manages to break above the $3,500 mark, we could witness a bullish surge towards $3,700. The persisting positive momentum indicates significant demand in the market, which could further push ETH prices upwards. On the other hand, if sellers attempt to bring down ETH’s price, the strong buying demand near its support level of $3,350 might help stabilize the coin at this level.

Binance Coin (BNB) Price Analysis

Last week, Binance Coin (BNB) started off on a downward trend, encountering significant selling pressure from bears attempting to drive the price below $550. However, buyers managed to regain control as bearish momentum weakened, propelling BNB back above the crucial support level of $560. By the end of Monday, BNB had rebounded to $568. On Tuesday, buyers continued their upward push, resulting in a 1.78% gain and pushing BNB up to $578. Wednesday saw an attempt by BNB to break through $600, but selling pressure at that level caused the price to dip nearly 1%, ending the day at $572.

As a researcher studying the behavior of BNB‘s market dynamics, I observed that buyers regained control on Thursday despite sellers attempting to push the cryptocurrency below $560. The persistent buying pressure resulted in a 1.47% increase, settling at $581. Notably, buyers have been actively defending the $560 support level, while sellers have shown resistance at $600. If BNB manages to surpass the $600 resistance, it could potentially lead us towards the $650-$700 price range. Conversely, a bearish sentiment could cause a quick downturn, with BNB dropping back to its support level of $560. In such an event, if sellers successfully breach this resistance level, we might witness a considerable drop, potentially pushing the price below $500. The 200-day Simple Moving Average (SMA) at around $470 could act as a dynamic support level and help stabilize BNB’s price in this scenario.

Solana (SOL) Price Analysis

As a cryptocurrency market analyst, I’ve observed a significant rise in Solana (SOL) on Thursday, with a 9.39% price increase. This upward trend emerged despite lingering concerns over potential selling pressure caused by Mt. Gox’s creditor repayments. SOL had hit an intraday low of $122 on Monday but managed to bounce back and close the day at $132.33, representing a 2.88% gain. On Tuesday, buyers maintained control, pushing SOL further upwards and enabling it to surpass its 200-day Simple Moving Average (SMA), reversing its previous trend and settling above $130 at $136.59 with a daily increase of 4.26%.

As a crypto investor, I observed an intense battle between buyers and sellers on Wednesday, resulting in noticeable price swings. I tried to propel Solana (SOL) above $150, but faced strong resistance from sellers guarding that zone. Conversely, sellers aimed for SOL to drop below $130 and the 200-day Simple Moving Average (SMA), but the significant buying pressure at this level prevented them from achieving their goal. The bearish resistance was finally breached on Thursday as SOL soared by more than 9%, fueled by VanEck’s SOL spot ETF filing. SOL reached a peak of $149.62, but failed to break past the crucial $150 mark. Today’s session sees SOL down by roughly 3%, with sellers currently dominating the market.

As a researcher studying the price movements of Solana (SOL), I have identified two potential scenarios based on current market sentiment. If the bearish trend persists, SOL may drop down to $140. A continued decline from this level could potentially bring the price back to the significant support level of $130. Conversely, if Solana recovers, buyers may regain control and push the price above $150. Closing above this resistance level might trigger a strong upward trend towards $170.

Toncoin (TON) Price Analysis

I, as an analyst, have observed Toncoin (TON) among the top performers in the cryptocurrency market, recording a remarkable 450% growth within the past year. TON reached its all-time high on June 15 but experienced bearish pressure thereafter, dropping to $6.91 by June 19. However, it has since regained momentum and resumed its uptrend.

As a crypto investor, I’ve noticed a shift in market sentiment towards bearishness on Monday and Tuesday. Specifically, TON experienced significant selling pressure on Tuesday, pushing the price below $7. However, buyers stepped in to prevent further decline, keeping the price just above the $7.50 mark.

As an analyst, I would assess the situation for TON in the following way: If selling pressure intensifies during the current trading session, we might observe a retreat to the $7.50 mark, which serves as a support level for the price. However, if the price manages to stabilize around its present level, buyers could once again try to propel TON above $8. A successful close above this resistance level could enable the price to challenge its all-time high and potentially establish a new record high.

Avalanche (AVAX) Price Analysis

On June 18, the price of AVAX dipped below a significant mark, falling from around $30 to reach a low of $26.60. Although buyers made an effort to rebound, their attempts were unsuccessful as selling pressure persisted. By Sunday, the cryptocurrency had further decreased in value and hit a new low of $25. However, AVAX managed to find buying interest at this level, which helped it recover somewhat. On Tuesday, following a slight dip on Monday, AVAX regained some ground and rose back above $25, closing the day at $25.41 – a gain of 2.43%.

On Wednesday, optimism around AVAX grew significantly, driving the price up to $25.80. An impressive surge of over 8% on Thursday propelled the price further to $27.91. However, AVAX encounters resistance between $28 and $28.50, with the moving average of the last 20 days (20-day SMA) serving as a formidable barrier. If AVAX manages to surmount this hurdle, it may advance toward $30. The upcoming major resistance is located at $33, where the moving average of the last 50 days (50-day SMA) resides. A shift in sentiment back to bearish could pull AVAX back down to its support level at $25.

Chainlink (LINK) Price Analysis

Chainlink (LINK) has successfully reversed its declining trend that began at the start of June, causing concern as the token dipped beneath the crucial support level of $15 on June 14th. The price slide continued, reaching a low of $13.19 on June 23rd. As a result, LINK is currently trading below its 20-day, 50-day, and 200-day Simple Moving Averages (SMAs). A potential breakout could lead to either a significant price surge or correction in the future. It’s essential to closely examine specific price points for insights into upcoming price fluctuations.

At present, the value of LINK stands at $14.17. The 20-day Simple Moving Average (SMA) serves as a barrier at $14.50, which might prevent LINK from advancing to $15.50 if it manages to surpass this hurdle. Further resistances can be found at $15.70 and $16.50. Should the price hold above the 20-day SMA, a potential move towards these levels could occur. Conversely, if LINK fails to maintain its position above the 20-day SMA, it may experience a significant decline and reach its support level of $13. This crucial support might prevent further downward price pressure.

Litecoin (LTC) Price Analysis

As a crypto investor, I’ve noticed that Litecoin (LTC) reached its lowest point since February, but surprisingly, whales have been making large purchases during this time. This could be an indication of potential accumulation prior to a substantial price rise. Whale activity has significantly increased in June. Last week, LTC experienced some consolidation around the $75 mark. However, the current week brought back bearish sentiment, causing the price to drop by 5% to $69.70. Sellers tried to push the price lower, but buyers defended this support level, weakening bearish pressure. Buyers managed to reverse the bearish trend on Tuesday, pushing LTC above $70 and settling at $71.39.

On Wednesday, I observed a slight decline in Litecoin (LTC), managing to keep its head above the $70 mark. Buyers regained control of the market by Thursday, resulting in a substantial increase of over 3% to reach $73.25. Currently, LTC is experiencing a minor setback during this session, with the price settling at around $73.

If the sellers are successful in their efforts, Litecoin (LTC) may fall to its support level of $70. At this point, buyers are anticipated to join the market. Nevertheless, if the sellers manage to push the price below the $70 support, LTC could potentially slide down to $60.

2024-06-28 13:14