Cryptocurrency
Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
Bitcoin (BTC) witnessed a volatile trading session on the last day of the quarter. The bulls were trying to maintain Bitcoin’s price above $31,000 but they received a jolt on a Wall Street Journal report which stated that the United States Securities and Exchange Commission (SEC) had returned applications for the Bitcoin spot-price exchange-traded fund (ETF).
Although there was a knee-jerk reaction to the news, the downside was limited because it turned out that the ETF applications were returned due to a technical issue. The regulators said the asset managers could refile after providing the necessary clarifications.
Bitcoin’s failure to cross above $31,000 seems to be making the short-term speculators jittery. A Glassnode research report released on June 28 shows that short-term holders (STHs), entities holding coins for 155 days or less, have sent more than 35,000 coins to the exchanges.
Any adverse news is likely to witness a negative reaction from SThs. What are the important support and resistance levels that need to be watched on Bitcoin and altcoins in the near term? Let’s study the charts of the top-10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin continues its tight consolidation near the overhead resistance at $31,000. This shows that the bears are trying their level best to stall the up-move but the bulls have kept up the pressure.
Generally, a tight consolidation near an overhead resistance resolves to the upside. The upsloping 20-day exponential moving average ($28,982) and the relative strength index (RSI) in the positive territory indicate that the path of least resistance is to the upside.
If buyers sustain the price above $31,000, the BTC/USDT pair could pick up momentum and start the next leg of its uptrend. There is a minor resistance at $32,400 but it is likely to be scaled. The pair could then dash toward $40,000.
This positive view will invalidate in the near term if the price turns down and plummets below the 20-day EMA. The pair may then swing inside the large range between $31,000 and $24,800 for a few more days.
Ether price analysis
Ether (ETH) bounced off the moving averages on June 29, indicating that the lower levels are attracting buyers.
The bulls will try to propel the price above the overhead resistance at $1,937. If they manage to do that, the ETH/USDT pair may rise to the psychological level of $2,000. This level may again act as a minor barrier but it is likely to be crossed. The pair may then rally to $2,142.
Instead, if the price turns down sharply from 1,937, it will suggest that bears are not willing to surrender. That will increase the likelihood of a drop below the moving averages. The pair may then slump to $1,700 and next to $1,600.
BNB price analysis
BNB (BNB) slipped below the support at $230 on June 28 but the long tail on the candlestick shows that the bulls aggressively purchased the dip.
The 20-day EMA ($245) remains the key level for the bulls to cross. If they kick the price above it, the BNB/USDT pair could fly toward the overhead resistance zone between $257 and $265. Sellers are expected to mount a strong defense in this zone.
Contrary to this assumption, if the price turns down sharply from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then make one more attempt to sink the pair below $220 and start the next leg of the downtrend.
XRP price analysis
XRP (XRP) fell close to the first support at $0.44 on June 28 and June 30 but the long tail on the candlesticks shows strong buying at lower levels.
The $0.44 support is an important level to watch out for in the near term. If this level breaks down, the selling could pick up and the XRP/USDT pair may tumble to $0.41. This level may again attract strong buying by the bulls.
The 20-day EMA ($0.48) remains the key resistance for the bulls to scale. If buyers overcome this obstacle, it will enhance the prospects of a rally to the strong overhead resistance zone between $0.53 and $0.56.
Cardano price analysis
Cardano (ADA) has been range-bound between $0.24 and $0.30 for the past few days. The long wick on the June 30 candlestick shows that the bears are fiercely defending the $0.30 level.
The failure to sustain the price above the 20-day EMA ($0.28) could keep the ADA/USDT pair stuck inside the range for some more time.
A close above the 20-day EMA will be the first indication that the bears may be losing their grip. Buyers will then try to strengthen their position further by driving the price above the crucial overhead resistance at $0.30. If they do that, the pair may surge toward the 50-day SMA ($0.32).
Dogecoin price analysis
Dogecoin (DOGE) turned up from the support at $0.06 on June 28, indicating that the bulls continue to defend the level with vigor.
The flattish 20-day EMA ($0.07) and the RSI just below the midpoint suggest a range-bound action in the near term. The price may swing between $0.06 and $0.07 for a while longer. This neutral view will tilt in favor of the buyers if they thrust and sustain the price above the overhead resistance at $0.07. The DOGE/USDT pair may then climb to $0.08.
Alternatively, the bears will have to sink and sustain the price below the strong support of $0.06 to gain the upper hand. The pair may then fall to the vital support at $0.05.
Solana price analysis
Solana (SOL) broke below the $16.18 support on June 28 but this proved to be a bear trap. The price turned up sharply on June 29 and skyrocketed above the 20-day EMA ($17.07) as the bears may have rushed to cover their short positions.
The buying continued on June 30 and the bulls are trying to drive the price above the breakdown level of $18.70. If they can pull it off, the SOL/USDT pair may shoot up to $22 and subsequently to $24.
If bears want to prevent the upside, they will have to stop the relief rally at $18.70 and pull the price back below the 20-day EMA. The pair could then retest the crucial support zone between $16.18 and $15.28.
Related: Why approving a Bitcoin ETF might unleash $18B in sell-pressure
Litecoin price analysis
Litecoin (LTC) plummeted below the moving averages on June 28 but the bears could not build upon this advantage.
The bulls purchased the dip on June 29 and pushed the price back above the moving averages on June 30. This attracted aggressive buying by the bulls who drove the price above the downtrend line of the descending channel pattern. The price reached the crucial resistance at $106 but the bulls could not overcome this barrier.
This is an important level for the bears to defend because if this resistance crumbles, the LTC/USDT pair may jump to $135. The major support is at the downtrend line of the channel.
Polygon price analysis
Polygon (MATIC) is attempting to form a bullish ascending triangle pattern, which will complete on a break and close above $0.69.
The bulls tried to push the price above the 20-day EMA ($0.66) on June 30 but the long wick on the candlestick shows aggressive selling at higher levels. If the price dips below the uptrend line, the MATIC/USDT pair may slide toward $0.55.
Alternatively, if the price rises from the current level, it will signal strong buying near the uptrend line. A break and close above $0.69 could open the doors for a potential rally to the 50-day SMA and subsequently to $1.
Polkadot price analysis
The bears tried to sink Polkadot (DOT) below the 20-day EMA ($4.93) on June 28 and June 30 but the bulls held their ground. This suggests that dips are being bought.
The bulls are attempting to clear and sustain the overhead hurdle at $5.15. If they succeed, the DOT/USDT pair rise to $5.56. This level may attract strong selling by the bears but on the way down, if bulls do not allow the price to slip below $5.15, the possibility of a rally to the downtrend line increases.
The 20-day EMA remains the key level to watch out for because a break below it may open the doors for a collapse to the pivotal support at $4.22.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Cronos (CRO) has seen a significant uptick of nearly 11% over the past 24 hours, as it briefly surged above $0.11 on March 28th. While it has currently stabilized at around $0.10, the latest price action has pushed its weekly gains to nearly 40%.
This rise in CRO’s value comes on the heels of a major development involving Crypto.com, the parent company behind the cryptocurrency.
SEC Ends Probe into Crypto.com
The US Securities and Exchange Commission (SEC) officially closed its investigation into the crypto exchange and has informed the company that no enforcement action would be taken against it.
This marks a major moment after months of tension between the two entities. In October 2024, Crypto.com filed a lawsuit against the SEC after receiving a Wells notice, which indicated the regulator’s intent to sue the platform for operating as an unregistered broker-dealer and securities clearing agency.
The lawsuit argued that the SEC had unlawfully extended its jurisdiction and imposed an overreaching rule classifying nearly all crypto transactions as securities trades, regardless of how they were sold. Crypto.com CEO Kris Marszalek publicly condemned the regulator’s actions and called for an end to its overreach.
However, by December 2024, Crypto.com dropped its lawsuit, a month after the re-election of Donald Trump as US President. The SEC, under the Biden administration, had previously targeted various cryptocurrency companies, including Kraken, Coinbase, and Uniswap, with enforcement actions and lawsuits. However, after Trump returned to office, the legal landscape for crypto companies shifted dramatically, with many cases being shut down.
Following the development, Nick Lundgren, Chief Legal Officer of Crypto.com, accused the SEC of weaponizing and attempting to expand its congressionally granted power to harm an industry that its former chair “disfavored.” The exec even went on to add,
“It is unfortunate that we were forced to endure this years-long investigation and file our own suit against the SEC to protect the rule of law. Compliance and integrity are core to Crypto.com’s business and we are excited to work with soon-to-be-confirmed Chair Atkins and the rest of the Commission on our long-awaited desire for legislation and rulemaking.”
Backlash Over Re-Issuance of 70 Billion CRO Tokens
Crypto.com was recently under fire for the re-issuance of 70 billion CRO tokens, which sparked fierce criticism from the crypto community. For instance, ZachXBT, a prominent blockchain investigator, accused the company of betraying its users, and claimed the move was no different from a scam. This controversial decision resurrected tokens that had been burned in 2021 to decrease the total supply.
Critics argue that it goes against the community’s wishes for decentralization and transparency, with reports indicating that Crypto.com’s validators control a large portion of the voting power. Despite this, Marszalek defended the decision, stating that it was necessary to support the company’s growth strategy.
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TL;DR
- Ripple finally got the news it had anticipated for over four years, but the price impact on XRP has been little to no.
- A popular analyst on X outlined what needs to happen for the asset to kickstart its bull run, but XRP is not very close to it now.
$2 or $3 Next?
The price movements from XRP in the past several weeks have been quite underwhelming aside from a few brief spikes after Brad Garlinghouse’s announcement in mid March as well as when Trump mentioned it to be potentially included in the States’ strategic crypto reserve.
As of now, XRP struggles at $2.25 after a 4% daily decline. This is far off the $3.4 local peak reached in mid January, ahead of Trump’s inauguration, when the cryptocurrency came just 1% away from breaking its 2018 all-time high.
Despite the hype, the regulatory changes, the SEC lawsuit conclusion, and everything in between, XRP has not only failed to remain above $3 but it has lost its position as the third-largest digital asset to Tether’s USDT. With its price now sitting 33% lower than this cycle’s high, Ali Martinez outlined what needs to happen for XRP to restart its bull run.
To invalidate the current head-and-shoulders pattern, Ripple’s cross-border token needs to surge past $3, which seems like a distant target now.
If $XRP can break above $3, it would invalidate the current head-and-shoulders pattern, potentially flipping the outlook bullish. pic.twitter.com/B6mrtXm1TS
— Ali (@ali_charts) March 28, 2025
In contrast, Martinez highlighted $2 as a critical support level that needs to hold; otherwise XRP risks dumping toward $1.25.
What’s Holding XRP Back?
As CryptoPotato recently reported, everything seems to be going Ripple’s way. It’s not just the SEC lawsuit ending, or the hype around a potential US-based spot XRP ETF, or the friendlier administration. There’s more as the company considers an IPO while it also racks up new partnerships.
However, XRP has failed to feel the positive impact in terms of price actions. It is closer now to the $2 support than the $3 resistance. Trading volumes have declined as even whales seem to be sitting on the sidelines, unlike what happened after the US elections.
This could all be attributed to the overall market stagnation and the global economic uncertainty prompted by Trump’s controversial actions ever since he took office. Or, there could be more to the story that is yet to be unveiled to the public.
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TL;DR
- Pi Network’s native token has defied the overall crypto market trend today as its price has risen by 4% since yesterday and has defended the $0.8 support.
- PI’s community quickly picked up the positive price actions, which came after weeks of consecutive retracements, and outlined bullish predictions.
Less than a week after its official launch on February 20, PI skyrocketed to a fresh all-time high at $3 on February 26. However, its momentum quickly evaporated, and the asset went south hard.
In the following month, PI plunged by over 70% and dumped to under $0.75, which many analysts highlighted as an important support zone that could lead to a price reversal.
This seems to be the case so far, as PI has risen by over 14% since that local bottom. On a daily scale alone, the asset is up by 4.1%, according to data from CoinGecko.
Although 4% doesn’t sound like much, especially when considering its overall crash in the past month, it’s particularly impressive given the fact that almost the entire crypto market is in the red today. BTC is down below $86,000 once again, while alts such as DOGE, LINK, SHIB, DOT, APT, and ICP have dropped by over 5%.
PI’s growing community praised the price reversal, and some projected an immediate surge to $1.2. Others highlighted the growing trading volume, which could be considered a good sign as well in an environment of low activity in the broader market.
Perhaps what’s most bullish in regards to PI’s price movements is the fact that the token’s exchange deposits have slowed down to roughly a million, compared to the massive numbers registered over the past month.
At one point, there were over 300 million PI tokens transferred to centralized exchanges, which increases the selling pressure immediately.
$PI exchanges deposits are finally slowing down.
In the last 24 hours only 1M $PI was deposited.
The biggest transfer was exchanges to exchange (Bitget to GATE)If the trend continues we will see the exchange supply start to reduce and eventually pump the price.#PiNetwork pic.twitter.com/CbWAHDs9om
— MOON JEFF (@CRYPTOAD00) March 27, 2025
Certain positive developments are also happening in the Pi Network ecosystem, such as Telegram wallet integration for PI. You can find more on the matter in our frequent Pi Network News section.
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