– Bitcoin is facing critical resistance at $31,000, which could trigger a broader crypto rally.
– The US equity markets have performed well, with the Nasdaq Composite up 31.7% and the S&P 500 up 15.9% in the first half of the year.
– Bitcoin has led the recovery in the cryptocurrency markets, rising 20% in Q2 2023.
– Altcoins are starting to show signs of life, suggesting a potential rally in the coming weeks.
– The S&P 500 Index has bounced off support at 4,325 and is likely to continue its uptrend towards 4,650.
– The US Dollar Index has shown strength, with buyers stepping in at lower levels.
– Bitcoin’s price is being supported by bullish buying, and if it breaks above $31,000, it could rally towards $40,000.
– Ether is also showing bullish signs, with support at $1,866 and potential resistance at $2,142-$2,200.
– BNB is consolidating between $220 and $265, with resistance expected at the higher level.
– XRP is facing resistance at the 20-day EMA, but a break above could lead to a rally towards $0.53 and $0.58.
– Cardano is seeing buying on minor dips and could start a relief rally if it breaks above $0.30.
– Dogecoin remains range-bound between $0.06 and $0.07, with a break above $0.07 needed for a sustained recovery.
– Solana is trading between the 20-day EMA and the downtrend line, with a break above the downtrend line potentially leading to a rally towards $22 and $24.
– Litecoin has broken above resistance at $106 and could continue its uptrend towards $134-$144.
– This article does not provide investment advice and readers should conduct their own research.
