The cryptocurrency market is stabilizing as it enters the last days of June, with total market capitalization slightly increasing to $3.29 trillion. However, trading volume has decreased by more than 15%, indicating cautious sentiment and a decline in investor participation this week. The Fear & Greed Index remains neutral at 49, showing indecision in market trends. Regarding leading cryptocurrencies, Bitcoin has increased slightly by 0.28% to $107,327, Ethereum has decreased slightly, while XRP stands out with a 5% increase on the day. This article provides an in-depth perspective on technical analysis and price forecasts for cryptocurrencies in the coming week, based on expertise and knowledge in the field.
Bitcoin (BTC) price forecast for next week
On the daily chart, Bitcoin is accumulating just below the upper Bollinger band at $110,539.68. The current RSI is at 56.30, indicating a slight upward trend but still within a neutral zone. The price is maintaining above the 20-day simple moving average at $106,002, serving as the nearest support level.
The sideways movement and low volatility suggest the possibility of a breakout, but the direction remains unclear. If BTC decisively closes above the $108,000 level, it could trigger buying pressure and push the price back up to the $110,500 area. Conversely, if it fails at this level, the coin could drop to the support level of $106,000, or even continue to decline to the lower band around $101,500.
For long-term investors, tracking Bitcoin price forecasts in the coming years will help evaluate strategy.
Analysis and price forecast for Ethereum (ETH) in the coming week
Ethereum, the second-largest cryptocurrency by market capitalization after Bitcoin, is fluctuating below the 20-day SMA at $2,508, showing signs of decreasing momentum. The RSI of ETH has just slightly rebounded from the oversold region, currently at 47.10, indicating initial signs of a reversal.
However, Ethereum remains trapped in a narrow range on the daily chart, putting pressure on this coin's trend in the short term. If buyers push the price above the resistance level of $2,500 next week, ETH could recover to $2,650.
If it cannot hold the support level of $2,390, the price of Ethereum may drop further to support levels of $2,250 and even $2,200 – an area close to the lower Bollinger band.
For long-term investors holding ETH, updating price forecasts for the coming years is necessary to adjust the portfolio appropriately.
Ripple (XRP) price forecast with a prominent upward trend
XRP has risen above the middle Bollinger band and is heading towards the upper band around $2.31. The RSI has increased to 51.05, indicating clear upward momentum and strengthening investor confidence.
The strong recovery stems from the solid support level of $2.07 this month, creating a favorable basis for the next price surge. If the price can stay above $2.22, XRP may test the $2.31 range and has potential to reach $2.40 in the next few days.
In the case of a weakening buying trend, important support levels are at $2.17 and the lower Bollinger band around $2.02, which will be key balancing points to assess the next momentum.
Frequently asked questions about cryptocurrency price forecasts for next week
Could Bitcoin's price reach $110,000 next week?
This possibility could occur if the buying pressure from the bulls remains stable. In that case, BTC could peak at around $110,500 by the end of next week.
Is Ethereum weakening compared to Bitcoin and XRP?
Currently, Ethereum is showing relative weakness as it trades below important averages. Meanwhile, Bitcoin maintains its accumulation momentum and XRP shows signs of accelerating more strongly.
Could XRP reach $3 next week?
This is very unlikely without strong stimulating events. XRP may test prices from $2.40 to $2.50, but breaking above the $3 mark requires a strong surge in trading volume and a positive change in market sentiment.
Source: https://tintucbitcoin.com/du-bao-gia-btc-eth-xrp-tuan-30-6/
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