Price Analysis 6/27: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

SOL appears positive in the early hours of Friday. It slightly recovered from its two-day decline, reclaiming a key level.

The asset is expected to continue its uptick on Saturday. SOL is slightly up in the last four hours and edges closer to reclaiming other lost levels. 

A new trend is unfolding at the time of writing; altcoins are experiencing more significant price movements as the apex coin remains relatively stagnant. 

However, the global cryptocurrency market is down slightly, and trading volume has plummeted by almost 12% in the last 24 hours. Nonetheless, traders maintain optimism as the fear and greed index remains at 49.

Fundamentals are positive, with most of the ones coming in on Friday focusing on several developments across different blockchains. One such example is Ethereum, which has seen a spike in gas fees. It thrilled many as it meant the altcoin was receiving more attention.

Pudgy Penguins is one of the top gainers in the last 24 hours. It saw a 218% increase in trading volume as prices surged by 17%. News of CBOE filing a 19b-4 to list Canary Captals PENGU ETF was the fuel for the latest increases.

Friday ended with no significant shift in prices across most cryptocurrencies. It remains to be seen if it will change on Saturday. Let’s examine possible levels.

BTC/USD

Bitcoin ended the previous day with a doji after another failed attempt at the $108k resistance. It hovered below the mark for most of the session and may continue that trend on Saturday. 

Dwindling trading volume may be a contributing factor to the asset’s failure to surge. Nonetheless, it trades above $107k, critical support; the mark held out over the last two days and may continue its streak.

The 2-hour chart indicates that the apex coin exhibits minimal volatility at the time of writing. However, the Bollinger bands indicate an impending breakout as they constrict. It is worth noting that the constriction started during the previous intraday session but worsened in the early hours of Saturday.

With the $107k support remaining strong, it may see further upward movement as demand concentration holds this key level. BTC is likely to break above $108k again.

ETH/USD

Ethereum looks less likely to have a significant breakout on Saturday. It reacted to the bullish fundamentals on Friday, printing a doji. The coin continues its trend of low volatility, marking its fourth day seeing such a trend.

ETH has remained relatively stable since the start of the day. The largest altcoin is struggling to register any significant moves as trading volume has declined. The relative strength index is stable in reaction to the latest trend.

The bollinger bands on the 1-day chart are stretching apart, indicative of no impending massive shift.

Nonetheless, the bands on the 2-hour chart tell a different story. It is constricting as the asset registers less volatility on this scale. While the lower timeframe prints such a signal, it may be a slight price change that may barely affect prices.

The bulls may stage a surge to $2,500—however, the largest altcoin risks retracing to $2,380.

XRP/USD

XRP edges closer to seeing its second day of consistent uptick. It rebounded at $2.06 on Friday and surged to a high of $2.15. The session ended with gains of almost 2%.

Like SOL, it resumed its uphill movement on Saturday, edging closer to $2.20. The relative strength index is climbing, indicating notable buying volume. This may be the catalyst for breaking above the highlighted mark. 

XRP may continue to rise, retesting its seven-day high of $2.23. While several attempts to flip the level failed, this time may be different. The coin built up notable buying pressure below bollinger’s middle SMA before retesting the mark. Nonetheless, it must first flip $2.20.

BNB/USD

Binance Coin printed a green candle on Friday. However, it marked no significant shift in prices as the asset ended the session almost at the price it started.

It continues its trend of reduced volatility on Saturday. It prints a red candle, slightly declining. The asset remained above $640 over the last three days; the current session may not be any different.

However, it is important to note that the 2-hour chart indicates an impending breakout. A constricting Bollinger band, due to low volatility, suggests a surge to its seven-day high while it risks slipping below $640.

SOL/USD

SOL is experiencing its second consecutive day of increases. It ended the previous intraday session with gains exceeding 2% after surging to a high of $145 and closing at $142.

The altcoin is edging closer to Friday’s high and may flip it. Trading action this week shows that the highlighted will break, and SOL will continue upward, retesting bollinger’s SMA at $148. The rising RSI reveals that the asset is experiencing notable buying volume.

However, the 2-hour chart paints a grimmer picture. SOL is trading close to bollinger’s upper band. It rarely breaks out on this timeframe, but surges out of the mark are met by selloffs. The trend may repeat on Saturday.

DOGE/USD 

Like SOL, the largest memecoin is experiencing a slight uptick. This marks its first green after two days of consistent declines. 

DOGE trades above $0.161 while shaping up for further upward movement. The relative strength index is rising as buying pressure slightly. Bollinger bands suggest an impending surge to the middle band at $0.17.

The 2-hour chart displays the same signal, indicating a potential rise to $0.162. However, the asset is losing momentum. It previously printed a longer candle but printed a tiny one at the time of writing as the bulls struggled to continue the uptrend.

ADA/USD

Cardano shows signs of recovery after three days of consistent price declines. The asset dropped to a low of $0.54 from $0.58.

It prints its first green candle at the time of writing. However, the candle suggests that the uptick may be shortlived as the asset trades slightly lower than its high. 

Previous price movement indicates the likelihood of the asset retesting $0.58. It also points to chances of a drop to $0.54. Nonetheless, rising RSI increases the probability of an upside breakout.

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