Bitcoin is set for a power play! Traders cannot keep their eyes off the resistance at $108,000. If the price manages to produce a decisive daily close above the $108,000 resistance level, a quick run-up to a new all-time high above $111,980 will be expected. Why? Because if Bitcoin fails to hold above $108,000, it would simply mean that the current range is holding the price down. Riding on the wings of institutional buying, and the tightly knit correlation of Bitcoin to many major altcoins, a potential altcoin rally could begin!
Table of Contents
- Bitcoin
- Ethereum
- XRP
- Sei
- Aptos
Bitcoin
Just 5% from the obliteration of its previous all-time high, Bitcoin is gasping for air. The bulls are faced with a formidable adversary at $108,000-a veritable line in the sand. Break through and maintain a firm daily close above this level, and the sprint towards $111,980 nearly becomes a certainty. Worlds of cryptocurrencies watch with bated breath: will Bitcoin conquer the resistance, or succumb?
Bitcoin bulls, brace yourselves! The daily BTC/USDT chart is a battlefield. Defending the line are critical support-altitude levels at $106,290, $104,600, and $103,000. More corrections are set to take place if these walls come down. But high above there is the all-time high of $111,980, standing as immediate resistance and quite tempting, I dare say. Beyond this, at the 127.2% Fibonacci retracement level, $122,172 awaits like a lighthouse for the daring. Will Bitcoin trade up that high or come down back to earth via the bears? The next few days could well showcase the results.
BTC/USDT daily price chart | Source: Crypto.news
Bitcoin Bulls Retreat: Is a Deeper Dip Imminent?
In derivatives, markets are flashing red, giving cues that something may be working against Bitcoin. Long positions have been unwound in the scale of thousands in these past 24 hours, far exceeding the liquidations of short positions. With a potential plunge in the long/short ratio below 1, the data points to an ebbing consensus among traders that there will be further downside before Bitcoin stands on its own and begins to rebound. So, is it just a brief moment of bearishness, or the calm before yet another storm? Time will tell, but the derivatives market is surely preparing for an impact.
Bitcoin derivatives data analysis | Source: Coinglass
Geopolitical tremors laid gloomy fingers on the bullish mood set agog a day ago. Yet, the Fear & Greed Index glistened with Greed, the siren’s song hinting that the waves of risk appetite still wash the shores of uncertainty.
Crypto Fear & Greed Index | Source: Alternative
Buckle up, crypto traders! A $15 billion options expiry event threatens to give Bitcoin and the altcoins a soul-crushing weekend frenzy. History calls for an unpredictable ride mostly downward for Bitcoin. Its prices, however, have, on many occasions, rebounded substantially against all odds, usually underpinned and aided by heavy spot exchange demand, so throw your panic selling out of the window. Will the market surprise everyone or will bears come out on top?
Bitcoin’s fate hangs precariously above $106,000. Lose this critical foothold, and brace for a potential avalanche.
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Ethereum
The momentum of the Ethereum price has halted, with the price lingering around $2,400. Bulls are unable to surpass the resistance at $2,743, sitting 12% away from the resistance line. Strong psychologists designate $3,000 as an important line, and investors feel it beckon. In spite of seeming catalysts like murmurings of ETH treasury allotment and release of torrent institutional capital, the stubbornly earthbound price of Ether remains. Is this the eye of the storm, or are the emerging headwinds for the second-largest cryptocurrency more serious?
Ethereum is all set for a potential surge! A 30% move could vault it into the $3,200 resistance level (R1). The bulls aren’t stopping there, either- they are targeting another breakout above the $3,600 barrier (R2) for loftier targets.
Important support levels are marked by Fair Value Gaps on the ETH/USDT daily price chart, and at $2,111 and $1,850.
ETH/USDT daily price chart | Source: Crypto.news
With a hint by Ripple’s CTO David Schwartz, one can imagine a future where XRP would occupy a position much like Ethereum’s. Imagine XRP not just as a cryptocurrency but as the bedrock of the Ripple payment network, just as ETH is to the decentralized web. Could XRP establish itself as the basic asset for blockchain-based payments with a view to changing the way money flows globally?
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XRP
Hinting at a rally for altcoins on Friday’s price charts, with XRP probably riding Bitcoin’s coattails. Put a close watch on these significant price levels: support floors at $1.9083 and $1.7700 and resistance ceilings at $2.2524 and $2.6549. Breaking any one of these could lead to significant profits.
The psychologically important $3 level is key to the altcoin. Technical indicators on the daily timeframe support gains in XRP.
XRP/USDT daily price chart | Source: Crypto.news
Sei
SEI is preparing for a 14% potential upside surge with $0.3359 as resistance. Watch the FVG between 0.2465-0.2650; these levels are where SEI’s bullish ambitions are strongly rooted. It is set to burst above 0.3359 resistance. Will it break resistance, or will the FVG zones be put to test?
RSI reads 66, meaning above neutral and MACD flashes green histogram bars above the neutral line.
SEI/USDT daily price chart | Source: Crypto.news
Aptos
Maintaining life above $5, Aptos (APT) trades at $5.142; however, S1 at $4.644 could prove to be its disfavourable last breath before starting to rebound. The daily chart shows more green days for APT/USDT. With momentum building, it consists of the RSI coming up from 58 and the MACD shining a bullish image with bright green bars emerging above the zero line. This is only a short break, or is it or could it be the beginning of a real rally for Aptos?
Nearly 17% rally could push APT to test resistance at R1, $6. The next key resistance is R2, at $7.
APT/USDT daily price chart | Source: Crypto.news
Thanks for reading Weekly price prediction 27/6: SEI APT BTC ETH XRP
