Bitcoin dances above $107,000, a tightrope walker balancing on the precipice of June’s end. Traders hold their breath, eyes glued to the horizon where macroeconomic data flickers like heat lightning, Federal Reserve pronouncements echo like distant thunder, and geopolitical tremors shake the ground. With interest rates frozen at 4.25-4.5% and the black gold of oil slicking downwards as supply fears recede, the crypto market teeters, waiting for the next seismic shift.
After a promising start to 2025, the S&P 500 is riding a 2% wave of gains, while the Nasdaq is flirting with record highs, painting a rosy picture for risk-hungry investors. Geopolitical anxieties have taken a backseat as tensions in the Middle East cool, sending a welcome chill through the energy markets. Oil prices, once threatening to boil over at $77, have retreated to a more palatable mid-$60s, and even gold and silver are taking a breather, suggesting a period of relative calm.
Bitcoin’s Next Act: Fireworks or Fizzle?
Can Bitcoin maintain its momentum and soar past $108,000 this week? Prediction markets are buzzing, but the outlook is far from certain. Myriad, a platform created byDecrypt‘s parent company Dastan, currently pegs the odds at a razor-thin 51% that BTC will hold above that crucial price point by July 4th. Will it be a week of explosive gains, or will the market fizzle out? The charts may hold the answer.
Bitcoin (BTC): Bullish momentum building
Bitcoin price data. Image: TradingView
The weekly Bitcoin chart is screaming “bull run!” Forget subtle hints; we’re seeing a full-blown convergence of bullish indicators. First, the 50-day EMA – think of it as Bitcoin’s recent memory – is planted firmly in the rearview mirror at around $87,918, acting as a solid launchpad. But the real kicker? The chasm between the 50-day and 200-day EMAs is expanding like the universe itself. This isn’t just upward momentum; it’s a gravitational pull for trend-hungry traders, practically guaranteeing a stampede to the upside. Buckle up.
Bitcoin’s price has been stuck in a rut, but a key indicator hints at a potential breakout. The Average Directional Index (ADX), a measure of trend strength, is hovering right at the edge, signaling a possible surge. Think of it as a coiled spring: for weeks, Bitcoin has been consolidating, building up energy. Now, the ADX suggests that energy is about to be released, potentially triggering a decisive move after a period of sideways trading. Will Bitcoin finally break free from its downward channel? The ADX says, “Keep watching.”
Bitcoin’s RSI hovers at a robust 62 – a sweet spot signaling bullish strength without the imminent threat of an overbought reversal. Think of the RSI as Bitcoin’s speedometer, gauging the velocity of price changes. Currently, it suggests the engine is revving nicely, but not redlining (above 70). While a dip below 30 would scream “oversold,” Bitcoin’s current position hints at potential for further gains. However, the enthusiasm isn’t what it used to be: notice the RSI’s gradual descent since early May? The Bitcoin rocket still has fuel, but the afterburners aren’t blazing like they once were.
The Squeeze is OFF! The pressure cooker of market volatility has released its steam, typically after a powerful surge. Now, the market’s catching its breath, consolidating its gains, and quietly coiling for its next explosive move.
Key Levels
- Immediate support: $102,000 ( accumulation zone)
- Strong support: $100,000 (psychological level)
- Immediate resistance: $110,000 (approach to all-time high)
- Strong resistance: $115,000 (measured move target)
Ethereum (ETH): Breaking free from consolidation
Ethereum Bounces Back: Is This Just a Dead Cat or the Start of Something Big? After months in the doldrums, Ethereum’s price just ripped 12.2% to $2,474, giving weary bulls a glimmer of hope. But hold on – before you pop the champagne, dive into the charts. The weekly technicals tell a far more nuanced tale, suggesting this rally might not be as straightforward as it seems.
Ethereum price data. Image: TradingView
Ethereum’s weekly chart whispers a tale of caution, a stark contrast to Bitcoin’s bullish roar. Currently perched at $2,474 after a recent dip and recovery, ETH dances a precarious jig beneath the shadows of its key moving averages. The 200-week EMA, a slumbering giant near $2,552, and the more agile 50-week EMA looming above at $2,707, form a tightening cage. This price ping-pong between averages isn’t a bullish hop; it’s a consolidation pattern that sends shivers down the spines of medium-term investors, hinting at potential stagnation or worse. Is ETH merely catching its breath, or is this divergence a harbinger of deeper struggles ahead?
Ethereum’s ADX is flatlining at 21, echoing what the charts scream: sideways city. No trend in sight. Forget breakout dreams; the ADX confirms Ethereum’s stuck in a trading range. Sub-25 ADX? Buckle up for choppy waters. Expect whipsaws, not waves. Directional traders, find another ocean. This one’s dead calm, at least for now.
The RSI hovers at a tepid 51, a market stuck in neutral. This isn’t the roaring engine of a bull market, nor the stalled sputter of a bear. Following a hefty 12% surge this week, the RSI’s ambivalence whispers a cautionary tale. Is this a genuine rally, fueled by conviction? Or simply a fleeting sigh of relief after weeks of pain, destined to fade like a desert mirage? The market holds its breath, unsure which path to take.
The Ethereum crystal ball is cloudy, even on Myriad’s prediction market. Will ETH kiss $3,000 by year’s end, or plummet back to $2,000? The crowd’s split, a tug-of-war between bullish dreams and bearish realities. Right now, the “moon” camp holds a slight edge, with a 55.1% chance Ethereum defies gravity. But in crypto, fortunes can flip faster than you can say “DeFi.”
But hold on – the Squeeze Momentum Indicator is flashing red, signaling a “Short” bias! This bearish undercurrent hints that the recent market fireworks may be a prelude to another downward spiral, not a sustained rally.
Ethereum’s chart is flashing warning signs. A massive descending triangle looms, pinning ETH between a stubborn $1,500 floor and a ceiling of $3,000-$3,500. That recent bounce from the abyss might tempt bulls, but don’t be fooled. Until ETH smashes through those moving averages and holds its ground, the outlook remains bleak. Since March, it’s been the same old story: a fleeting surge followed by a slow, agonizing bleed, each rally failing to conquer previous peaks. Is this a dead cat bounce or a bear trap waiting to snap shut?
Key Levels
- Immediate support: $2,250 (recent consolidation low)
- Strong support: $1,500-$1,750 (major support zone tested multiple times)
- Immediate resistance: $2,552 (50-week EMA)
- Strong resistance: $2,707 (200-week EMA) and $3,000 (psychological level)
Solana (SOL): The week’s breakout star
Solana price data. Image: TradingView
Solana Ignites: Rocketing past $158, SOL blazes a 16.5% trail, leaving rivals in the dust. The catalyst? Whispers from Wall Street. U.S. regulators are inching closer to greenlighting spot SOL ETFs, fueling speculation and sending Solana on a moon mission. Is this just the beginning of Solana’s stratospheric ascent?
Solana’s weekly chart is screaming “bull run,” but hold your horses – it’s not a simple picture. Hovering around $158, Solana is poised to conquer its 50-week EMA ($150) and, more impressively, its 200-week EMA lurking near $100. This bullish alignment – price soaring above both key EMAs – is a siren song for investors seeking long-term gains, signaling a potential power shift.
Solana’s recent 16.5% surge is eye-catching, but a critical clue lurks in its ADX reading of 13. This reveals that despite the impressive jump, Solana hasn’t broken free into a true trend on the weekly chart. Think of it as a coiled spring – ADX below 20 signals a weak trend, hinting this could be a mere bounce within its current trading range, not a full-blown rally.
But here’s where opportunity knocks: If Solana can hold its ground and the ADX climbs above 20-25, that’s the green light! It would confirm a genuine trend is taking shape, potentially signaling a sustained upward move. Watch the ADX – it’s the key to unlocking Solana’s next chapter.
The RSI, currently perched at a robust 59, paints a promising picture: bullish momentum is building. Imagine a coiled spring, released from oversold depths and stretching upwards. It’s not overextended, not yet flirting with the overbought zone above 70. Instead, it hints at further ascent, a runway cleared for potential gains, unburdened by immediate momentum-driven resistance.
The Squeeze Momentum Indicator is screaming “Coil Tight” on the weekly chart. This isn’t just interesting; it’s potentially explosive. Even after a recent 16.5% price rocket, the market is still wound tighter than a drum on the larger scale. Historically, when these weekly squeezes finally unleash, buckle up we’re talking about sustained runs that can last weeks, even months.
SOL bulls, take note: the $100-$120 zone, now a fortress of accumulated buys, stands ready to defend. Fresh momentum explodes above $140, fueled by surging volume – a clear signal the bulls are stampeding!
Key Levels
- Immediate support: $140 (200-week EMA and psychological level)
- Strong support: $100-120 (high volume accumulation zone)
- Immediate resistance: $160-180 (a level that has been in play since 2024)
- Strong resistance: $200-210 (measured move target from the base pattern)
Disclaimer
Think of this as a friendly nudge, not a financial roadmap. The author’s musings are purely for your entertainment and education, not investment strategies.
Thanks for reading Solana Skyrockets as Bitcoin and Ethereum Grind Higher: Where Do Prices Go Next?
