A July for cryptocurrencies? – In June, Bitcoin stalled around $72,000, then fell below $60,000. Finally, traders defended $60,000, and the Bitcoin price is now trading around $62,000. Nevertheless, June closed in the red with a 7% drop. Historically, July is much more bullish, and this could allow the price to hold on to $60,000, and why not return to the psychological threshold of $70,000. A scenario that would probably allow exchange tokens to rebound after a complicated period. What is the situation of exchange tokens at the beginning of July? We take stock in today’s analysis!
Towards a return to $640 for Binance Coin?
After Bitcoin, Binance Coin is the only one to have succeeded in mark an all-time high among the largest capitalizations of the cryptocurrency market. It must be said that the price had exploded upwards Following the break of the bearish trendline at the beginning of the year. Despite the bullish volatility and the historical highthe level at $640 did not hold, and the institutional bias (EMA 9/EMA 18) bullish did not generate a rebound. Therefore, buyers must now defend the support at $540 :
Yes, the support is keptthe BNB price could return to the level of resistance at $640. It will be necessary to get rid of this resistance and close beyond the last historic high at $722 to be able to continue on the bullish dynamics in place. On the other hand, a loss of $540 could send the BNB on the next $480 support. A movement that could challenge the primary bullish dynamic on this asset.
The RSI is evolving downwards Since March, the Sellers have control over momentum. It will be necessary to find ascending troughs and peaks so that the buyers once again have the advantage of momentum. To do this, you will have to start again above 72.
BNB/BTC Pair Remains Bullish During This Period of Uncertainty
The Bitcoin price is going through a period where the buyers and sellers neutralize each other. In fact, since March, the price has fluctuated between 60 000 $ and the 70 000 $ without showing a clear direction to market operators. Against the dollar, the BNB is bullishand this is also the case with Bitcoin:
Since the break of the bearish trendlinethe price of the BNB/BTC pair is showing a bullish dynamics. And even with the recent falls below $60,000the BNB resists. In case of Break of resistance at 0.0094 BTCthe pair could experience some bullish volatility until next time résistance. For this, the BTC will have to be able to keep the psychological round number of $60,000. Otherwise, the BNB/BTC pair could end up falling.
The RSI shows a bearish divergenceand a second could be validated in case of development under 47. If we rely on the RSI, the buyers seem out of breath.
Coinbase’s COIN is aiming for resistance at $270?
The COIN is installed in a bullish dynamics for several months, and more precisely since the beginning of 2023. Recently, sellers have shown themselves at $270 leveland the price fell on the support at $210. However, buyers seem defend this support leveland the Institutional bias is still bullish :
As long as the $210 is retaineda return to the level of the resistance at $270 is possible. To continue on the primary bullish dynamicsthe buyers’ objective will be to close the price beyond the last peak at $283.5. Also, one must consider the bearish scenario in case of loss of $210. A loss of this technical level could send the COIN at $160.
The RSI is generally evolving upwardsbut it has been falling since the beginning of the year. It will be necessary break the bearish trendline to hope for some bullish volatility.
OKB’s share price remains fragile in the short term
For its part, the OKB is installed in a long-term bullish momentumbut the course draws troughs and peaks descending from the top found in Fibonacci extension zone 1.618 and 2 (between $73 and $81) in March. For the moment, the dynamic is fragile in the short term. Moreover, all the returns at the level of Moving averages 9 and 18 are trending downwards are sold by operators :
The price is currently moving around the $40 support. If the course blocks on the bearish moving averagesthe support could give way, and the price could continue to fall. The next strong support for the price is found at 32 $. Pour reverse the dynamicsit will be necessary keep the $40break the resistance at $47and close beyond the last peak at $50.3.
The RSI draws troughs and descending peaks for several months now. We will have to find a bullish dynamics on the RSI, and beyond the bearish trendline so that the buyers can regain momentum.
KCS remains stuck to resistance at $10.5
The KCS is evolving at the level of resistance at $10.5 for about 70 days. The buyers and sellers neutralize each other for several weeks, and the KCS trend is unclear. In fact, the course was moving in a uptrend with the break of the bearish trendline. However, the close below the low at $9 a challenged the trend :
In case of break of $10.5the course could join the resistance at $14.5. To find a clear bullish momentuma fence will be needed beyond the last peak at $16. In revenge, if the resistance rejects the coursethe next solid support is at $8.5. A support that will then have to be kept to avoid a new fall below $7. The RSI shows a bearish dynamics for several months. It will be necessary to draw new troughs and rising peaks so that the buyers clearly have control over the momentum (green arrow).
With the uncertainties surrounding the Bitcoin price, Binance Coin is rather solid. Against the dollar, BNB is bullish, and the price could rebound towards $640. Also, against Bitcoin, BNB is bullish. If the resistance gives way, we could even see bullish volatility. For its part, the Coinbase Coin price reacted on the support at $210, and it could now return to the resistance at $270. OKB must react on $40 to avoid falling to the next support located at $32. And KCS has been evolving for several weeks around the resistance at $10.5. The dynamics will remain uncertain until the price closes beyond the last peak at $16.
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