Major altcoins, such as Ethereum (ETH), XRP, Solana (SOL), etc., are experiencing price declines of between 3% and 8% after recording double-digit gains last week. As a result, ETH and XRP have fallen below their key resistance levels of $3,000 and $3.0, respectively, as bulls must work harder to achieve a sustained rebound.
With the start of the cryptocurrency week, market investors are paying closer attention to the upcoming CPI and PPI data from the U.S. for June. Economists forecast a month-on-month increase of 0.3% and a year-on-year increase of 2.6%. This would represent an increase from the previous month's annual rate of 2.4%. Such inflation data could generate greater selling pressure on risk assets like cryptocurrencies.
