Crypto Market Stages Next Bull Run With ETH ETFs Listing News
The post Crypto Market Stages Next Bull Run With ETH ETFs Listing News appeared first on Coinpedia Fintech News
With a massive bullish uprising on June 19th, the crypto market cap jumps 3.41% to hit $2.376 Trillion. The sudden ballistic move in the market comes with the official announcement of the Ethereum ETF listing in the coming week.
Improving the broader market sentiment in a jiff, the bull run picks up pace in Bitcoin and the top altcoins. With Bitcoin outperforming Ethereum, major altcoins are ready to end the week on a high note.
Will this upsurge result in a breakout rally for Bitcoin to hit $84K or Ethereum to reach $5,000? Will the top altcoins reclaim their all-time high? Let’s find out more.
Biggest Crypto Eyes $84K In Q3 2024
With a bullish jump of 4.29% last night, BTC trades at $66,516 after briefly crossing above the $67K level. After bottoming out at the $56K level, the biggest crypto with a market cap of $1.313 Trillion is up by 20%.
The uptrend breaks above the short-term resistance trendline, the 50D EMA and the 50% Fibonacci retracement level at $64,766. With such a high momentum rally, the overhead resistances are failing to halt the massive upside-moving BTC prices.
Approaching the overhead resistance trendline, the breakout rally and the 4.29% bullish engulfing candle tease a jump to $72K. As per the Fib levels, the crypto price could hit the $84,696 mark.
Ethereum Resurfaces Above $3,5000
With a 7.92% jump this week after the 10.77% rise last week, the ETH price action teases a double-bottom reversal in the 1W chart. After bouncing back from the 50D EMA, the bull cycle in crypto within the 50% and 78.60% Fibonacci levels picks up pace.
With the latest news of the Ethereum ETF listing on 22nd July, the ETH price could surpass $3,859 or the 78.60% Fib level. As per the trend-based Fib levels, the uptrend in crypto could surpass the $5,000 psychological level to hit $5,402.
Solana’s Revival Teases New All-Time High
With an upswing as the broader market recovers, the SOL price hits the $170 mark and registers a 15% hike this week. Following the 12% jump last week, Solana’s bounce back teases a surge beyond the $200 psychological mark.
Heading to reclaim the 23.60% Fibonacci level, the bullish crossover in the MACD and signal lines bolster the bull cycle. If the uptrend continues, the Fibonacci levels paint a target close to the $400 psychological milestone for a new all-time high.
Return of The Underrated Crypto: XRP
The trend reversal in the XRP price surpasses the overhead trendline and the 23.60% Fibonacci level. With a 15% jump this week and 24% last week, the XRP price is heading to reclaim the $1 psychological level.
With a bullish crossover in the MACD and signal lines, the breakout rally in XRP reignites the bull run. If the uptrend gains momentum, the crypto price could hit the $1.56 mark.
