With a massive bullish uprising on June 19th, the crypto market cap jumps 3.41% to hit $2.376 Trillion. The sudden ballistic move in the market comes with the official announcement of the Ethereum ETF listing in the coming week.
Improving the broader market sentiment in a jiff, the bull run picks up pace in Bitcoin and the top altcoins. With Bitcoin outperforming Ethereum, major altcoins are ready to end the week on a high note.
Will this upsurge result in a breakout rally for Bitcoin to hit $84K or Ethereum to reach $5,000? Will the top altcoins reclaim their all-time high? Let’s find out more.
With a bullish jump of 4.29% last night, BTC trades at $66,516 after briefly crossing above the $67K level. After bottoming out at the $56K level, the biggest crypto with a market cap of $1.313 Trillion is up by 20%.
The uptrend breaks above the short-term resistance trendline, the 50D EMA and the 50% Fibonacci retracement level at $64,766. With such a high momentum rally, the overhead resistances are failing to halt the massive upside-moving BTC prices.
Approaching the overhead resistance trendline, the breakout rally and the 4.29% bullish engulfing candle tease a jump to $72K. As per the Fib levels, the crypto price could hit the $84,696 mark.
With a 7.92% jump this week after the 10.77% rise last week, the ETH price action teases a double-bottom reversal in the 1W chart. After bouncing back from the 50D EMA, the bull cycle in crypto within the 50% and 78.60% Fibonacci levels picks up pace.
With the latest news of the Ethereum ETF listing on 22nd July, the ETH price could surpass $3,859 or the 78.60% Fib level. As per the trend-based Fib levels, the uptrend in crypto could surpass the $5,000 psychological level to hit $5,402.
With an upswing as the broader market recovers, the SOL price hits the $170 mark and registers a 15% hike this week. Following the 12% jump last week, Solana’s bounce back teases a surge beyond the $200 psychological mark.
Heading to reclaim the 23.60% Fibonacci level, the bullish crossover in the MACD and signal lines bolster the bull cycle. If the uptrend continues, the Fibonacci levels paint a target close to the $400 psychological milestone for a new all-time high.
The trend reversal in the XRP price surpasses the overhead trendline and the 23.60% Fibonacci level. With a 15% jump this week and 24% last week, the XRP price is heading to reclaim the $1 psychological level.
With a bullish crossover in the MACD and signal lines, the breakout rally in XRP reignites the bull run. If the uptrend gains momentum, the crypto price could hit the $1.56 mark.
Also Read: Top Layer-2 Tokens Set to Hit $3: Will Polygon (MATIC) Make the List?
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