After briefly dipping below $100,000 during the third week of June, Bitcoin bounced back and nearly completed a V-shaped recovery. This momentum also led to a rise in major altcoins. Let's explore what lies ahead for these key cryptos in the upcoming weeks.
Bitcoin has been through a turbulent period recently, facing global geopolitical tensions. Despite falling below $100,000 last month, it’s now trading comfortably above $118,000.
With mixed technical indicators, the short-term scenario remains uncertain, with a risk of sideways consolidation. However, a clear breakout above $119,000-$120,000 could signal a move toward $122,000-$124,000. Additionally, as trader Killa points out, many short positions are waiting to be liquidated to the upside.
$127,000 could also be an achievable target for Bitcoin in July. This price corresponds to the upper band of the MVRV Bollinger for short-term holders.
Ethereum has clearly reclaimed its 200-day moving average and formed a bullish symmetrical triangle over the past month. It’s now sitting just below the multi-monthly resistance zone between $3,800 and $4,100. High institutional interest suggests the momentum remains intact, with upside potential toward $4,100 in July and $4,500 in August if the resistance at $3,800-$3,850 is breached.
Predictions for other major cryptos like Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Hyperliquid (HYPE), Sui, Chainlink (LINK), and Avalanche (AVAX) indicate potential movements based on technical and fundamental factors unique to each asset. Investors might consider buying strategies at support levels and selling at resistance levels to optimize their returns.
As Google searches for altcoins explode, Solana could increase to $230 in July and then to its highest level at around $290 in August. Meanwhile, XRP could climb to $4 in the coming weeks. In summary, the upside will largely depend on resistance levels and their previous ATHs.
According to analyses, BTC could still rise to between $132,000 and $139,000 by August, which leaves room for altcoins still lagging behind like Solana or even Cardano.
While these analyses do not constitute investment advice, they offer insights into the key drivers and trends likely to influence cryptocurrency prices in the coming months.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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