Recently, BTC has been consolidating quite steadily: over the weekend, it tested the lower points but did not break below, and the bottom price is slowly rising, indicating a clear intention from the bulls to push up. The short-term resistance is at 106,100; if it can break through 106,800 in one go, it is expected that a lot of funds will come in to chase the rise.
On the ETH side, those who shorted at 2590 were all forcibly liquidated at a loss, and now the price has reached 2620. Those wanting to short, don’t rush; wait until the price is around 2720 to discuss, as there is significant trading volume there, making it a strong resistance level.
SOL leads the major market cap tokens with a 7% increase. Is the SOL spot ETF going to pass?
Among the three major mainstream coins, SOL is currently the strongest, with trading volume increasing and breaking through key price levels. The next target can be seen at 165. The hourly chart shows particularly strong movement, with bears being hit hard. However, the market is quite variable, so caution is needed as a drop in BTC might lead to a drop in SOL as well. Long positions can be held for now, but the hourly chart has started to consolidate again.
Why did ZKJ and KOGE crash together?
16 days ago, these two projects created a joint pool on PancakeSwap (locking a total of 30 million U worth of coins), attracting many studios to boost trading volume. However, the separate BNB and USDT pools for KOGE have low liquidity, making it impossible for large holders to sell directly when they want to exit. They could only first exchange KOGE for ZKJ and then use ZKJ to buy BNB or USDT, which resulted in both coins dropping together.
Additionally, both are Alpha altcoins, and once the price of one coin crashes, it easily triggers a sell-off of the other coin. In the end, both crash together.
However, this situation also serves as a reminder: when boosting trading volume, just focus on boosting it, don’t think about holding long-term to bet on price fluctuations. Also, make sure to choose coins with high trading volume and good liquidity, keeping slippage within 0.1%, otherwise, it’s easy to get trapped.
What other coins can be played?
The ETF for SOL is likely to pass. A major correction needs to hit the favorable conditions before it can break through the consolidation range.
The following are coins from the Sol series that have performed relatively well:
JTO's largest staking protocol.
Wif meme coin leader.
The coins that have rebounded the strongest during this round of decline and correction include Syrup, Virtual, and fartcoin.
Among these three coins, they are the ones that should be bought the most during each pullback, as they are all fully circulating, have high trading volume, and strong market makers.
On-chain folks can take a look at EGL1.
The characteristics of the big dog coins are generally that they tend to drop significantly when they hit 50 million or 100 million, and $EGL1 currently fits this pattern perfectly. This coin has been recommended by many, and the last time the heavily promoted siren saw at least several times the profit from those who followed along. I believe this time EGL1 won't be any worse.
Also, the fourmeme trading competition is expected to end on July 4, at which point EGL1 is likely to take first place, followed by wlfi purchases, bringing another wave of traffic and buying. My personal expectation is at least a double, and of course, higher possibilities are not excluded.
Finally, it’s important to note that the Federal Reserve's interest rate meeting on June 19 may become a 'key turning point' for market direction.