Key Takeaways:
- Bitcoin's relief rally surpassed $108K**, but bulls face resistance near the all-time high of **$111,980.
- Major altcoins rebounded from recent lows but lack sustained buying momentum at higher levels.
Market Overview
Bitcoin (BTC) surged past $108K** this week, fueled by institutional demand and **11 consecutive days of inflows** into U.S. spot Bitcoin ETFs (totaling **$3.35B since June 9). However, breaking through the $111,980 ATH may require a stronger catalyst.
Meanwhile, altcoins like Ethereum (ETH), XRP, and Solana (SOL) show tentative recoveries but struggle to maintain upward traction.
Bitcoin (BTC) Price Analysis
Current Trend
- Sharp rebound from $100K support.
- 20-day EMA ($105,154) turning upward, signaling bullish momentum.
Key Levels
- Resistance: $111,980 (ATH).
- Support: $98,200 (recent low).
Outlook
A sustained hold above the 20-day EMA could retest ATH. Failure risks range-bound action between $98K–$112K.
Altcoin Price Predictions
1. Ethereum (ETH)
- Rebound from $2,111**; testing **20-day EMA ($2,473).
- Break above $2,738** could target **$2,879.
2. XRP
- Defended $2 support**; range-bound between **$2–$2.65.
- Next breakout direction hinges on $2.65** (bullish) or **$2 breakdown (bearish).
3. Solana (SOL)
- Reclaimed $140**; faces resistance at **20-day EMA ($147).
- Potential rally to $160 if momentum holds.
4. Dogecoin (DOGE)
- 20-day EMA ($0.17) critical for recovery.
- Breakdown below $0.14** risks fall to **$0.10.
FAQs
Q: Will Bitcoin hit a new ATH soon?
A: Likely if ETF inflows persist and $108K support holds.
Q: Which altcoins have the strongest rebound potential?
A: ETH and SOL show promise if key resistance levels break.
Q: Is now a good time to buy altcoins?
A: Wait for confirmation of sustained uptrends (e.g., SOL above $160).
Conclusion
Bitcoin’s dominance suggests altcoin rallies depend on BTC’s next move. Watch $111,980 for BTC and key EMAs for altcoins.
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Disclaimer: Not financial advice. Conduct your own research before investing.