Because the U.S. stock market was closed yesterday, the market showed a polarized trend. Bitcoin did not rise but fell instead, and kept fluctuating around 65,000. However, Ethereum went on an upward trend alone yesterday. Why did this happen?
The closure of the U.S. stock market did not bring any benefits to Bitcoin. It is normal for Bitcoin to fall instead of rise. Ethereum is still expected to have a positive impact on ETFs in July, so it is normal for it to rise occasionally.
At present, whether Bitcoin will rise or fall is a question that everyone is very concerned about.
The strongest pressure point this week is at 67,000. If it breaks through from the current 65,000 to 67,000 this week and successfully breaks through, then Bitcoin will quickly reach 70,000 in the short term.
If there is no rise, there will most likely not be a big drop. It will oscillate between 64,000 and 65,000 for another week, and then rise again after the oscillation. 64,000 is a relatively important support level. It will rise anyway, so just be patient and wait.
5 Cryptocurrencies That Will Increase 100x in 2024 and Make You a Millionaire in the Bull Market!
1. RNDR
After failing to break through its important resistance at $11,760 several times, RNDR price lost momentum and trended negatively. This caused the AI ââToken to drop to its critical support at $7,325.
Currently, the Render token is on the verge of testing its key support level, the outcome of which is still unpredictable.
The technical indicator MACD shows a continuous decline in the red histogram, and its average value shows a declining bearish trend. This highlights the increasing positive influence of the RNDR cryptocurrency in the market.
On the other hand, the Relative Strength Index (RSI) records a high probability of a bullish convergence on the 1D timeframe, suggesting that Render price will continue to rise this week.
If the market sustains the RNDR token price above its critical support at $7.325, the bulls will regain momentum and prepare to test its overhead resistance at $11.760.
2.GRT
GRT price also showed a similar trend, rising 7.32% in the past day after a correction of 14.83% in the past 7 days and 31.12% in the past 30 days. Moreover, the altcoin has a year-to-date return of 0.1%, indicating a long-term neutral sentiment.
With a trading price of $0.2152, a circulating supply of 9,548,331,450 GRT tokens, and a total supply of 10,799,506,661 GRT tokens, The Graph cryptocurrency has managed to secure the 44th spot in the global cryptocurrency list with a market cap of $2.043 billion.
The RSI successfully tested its oversold trendline, causing it to bounce back in the chart. Moreover, it showed a strong bullish crossover potential, indicating a positive outlook for Graph Coin price this week.
If the bulls regain momentum, the GRT cryptocurrency will break above its $0.2325 mark and will be ready to test its overhead resistance at $0.2950.
3. DONE
As bullish sentiment continues to rise in the cryptocurrency space, FET price recorded a bullish gain of about 8% in 24 hours after breaking through a key support level yesterday. In addition, Fetch.ai price has a year-to-date return of +75.86%, showing strong long-term positive impact.
The Moving Average Convergence Divergence (MACD) continues to decline on the 1D timeframe, indicating an uptick in price action for the FET cryptocurrency in the market. However, the MACD continues to decline, indicating mixed sentiment in the cryptocurrency space.
If the market pushes the price of Fetch.ai above the $1.285 resistance, the bulls will regain momentum and prepare to test its overhead resistance at $1.855.
4. ENSÂ
Despite the increased price volatility in the market, ENS price continues to show positive momentum, gaining 15.46% over the past day with a +34.59% change in trading volume. In addition, the Ethereum-based token has surged 82.75% over the past month, with a year-to-date return of 158.21%.
The Simple Moving Average (SMA) has recorded a strong bullish curve in the price chart, indicating an increase in positive price action for Ethereum Name Service Token this week.
The technical indicator RSI has successfully retested its neutral point, causing the ENS cryptocurrency to continue moving towards the overbought zone. On the other hand, the moving averages are showing a bullish curve in the price chart, highlighting the positive outlook for the altcoin in the coming period.
If the market sustains the ENS price above the resistance at $26.50, the bulls will be ready to test its important resistance at $30.
5. THIS
ENA price is trading under strong bearish sentiment, having corrected 8.79% in the past 7 days and 11.07% in the past 30 days. This has caused the altcoin to fall to the critical support level of $0.5520.
However, as altcoins surged, Ethena price managed to regain momentum, with a valuation increase of 5.89% and a 15.65% drop in trading volume.
Additionally, the ENA cryptocurrency price surged 12.14% this week, highlighting the growing bullish sentiment towards the altcoin in the cryptocurrency space.
The Moving Average Convergence Divergence (MACD) shows a significant decrease in the red histogram, indicating an increase in positive sentiment in the cryptocurrency space. Additionally, the averages have recorded a bullish convergence, indicating that the Ethena token will continue to appreciate this week.
If the bulls continue to gain momentum, the ENA token price will break above its important resistance at $0.7250 and head towards the ceiling at $0.820.
