Time is passing very fast and the agenda in cryptocurrencies continues to be extremely busy. Germany sell-off is over. But that doesn’t mean FUD is over. Risks in crypto, annoying bad news always comes. Genesis Trading and MTGOX In addition to sales, the US government has the potential to make billions of dollars of sales whenever it wants. Still, we can say that the pressure has eased in the short term. BTC Above $57,500. What about altcoins?
Cardano (ADA)
Those who missed the 2024 rise in the last decline and were able to muster up the courage found entry opportunities at low levels. Since many altcoins experienced losses of up to 50 percent or even more in 180 days, entry points were attractive. The only problem is that the consolidation process that started did not turn into an increase. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
ADA Coin It reached the resistance of the descending channel and the bulls are gathering strength for a new upward attempt. While the SMA20 is flattening at $0.39, the RSI is also indicating a balance. Although the decrease in selling pressure is positive, closes above $0.41 are needed. Thus, we may see a new attempt at $0.5.
In the opposite scenario, the ADA Coin price will move towards the support line of the channel.
Avalanche (AVAX)
With closing above SMA20 AVAX price It could rise to $30.39. Then we will see new attempts at $34 and $37.2. But for now the price is stalling just above the $24 support level. In case of a decline, the July 5 bottom at $21.8 could be retested and then we could see sales continue to $19.
BTC price performance It will be decisive for the entire market, including AVAX, and returning to closing above $60,000 may lead to greater reactions in altcoins this time because there were days when they were seriously oversold while BTC was looking for a bottom.
Shiba Inu (SHIB)
The overall decline is certainly decisive, but Shiba MetaverseShiba DeFi, Shibarium It is an undeniable fact that stories like these have not attracted much attention despite the long time that has passed. Shiba Coin While the team came up with a strong vision, meme coin investors are not looking for anything beyond speculative price movements. The volumes seen by low-market altcoins against DOGE and SHIB confirm this.
If the price turns around, closes above $0.000017 are needed. The RSI supports the bears and closes below $0.000015 will open the door to declines to $0.000012 and $0.00001. The breakout level is $0.00002 and the return could gain momentum with a breakout here.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
