Bitcoin’s price is demonstrating unprecedented resilience as it continues its skyrocketing trend beyond the $123,000 mark. The predictions by crypto analyst Mr. Wall Street suggest a new short-term target of between $135,000 and $140,000.

According to the analyst’s chart report, BTC has convincingly emerged out of a Broadening Wedge pattern after nearly two months of consolidation between a descending support and horizontal resistance. This significant breakout above the $112,000 resistance confirms the analyst’s previous bullish predictions.

Initially, the analyst proposed two potential scenarios: A surge above $112,000 leading straight to a rally between $117,000 and $120,000, or a slight dip to $92,000 to fill the CME gap before continuing its upward trajectory. Recent price movements show that Bitcoin has opted for the first scenario, highlighting its robust bullish momentum and indicating that short-term Fear, Uncertainty, and Doubt (FUD) have had minimal impact. With the second scenario no longer a possibility, BTC’s price trajectory appears to be clearer and higher.

The recent surge beyond $123,000 has also brought attention to the next major liquidity pool between $135,000 and $140,000. The chart indicates that reaching this zone would result in the liquidation of over $45 billion in short positions, with the next target zone between $160,000 and $170,000 potentially causing another $70 billion in short liquidations.

Mr. Wall Street’s bullish outlook for Bitcoin is further reinforced by macroeconomic factors and key chart indicators. The analyst highlighted the recent approval by US President Donald Trump of a bill to raise the country’s debt ceiling—a move that indicates accelerated debt growth. This is expected to expand the M2 money supply, which historically has a positive correlation with the rising prices of assets like Bitcoin.

Furthermore, Bitcoin’s Moving Average Convergence Divergence (MACD) remains solid across all time frames, and the Market Value to Realized Value (MVRV) ratio is still well below historic top levels. The Relative Strength Index (RSI) has yet to enter overbought territory, confirming that Bitcoin is far from a macro top and making the $135,000 to $140,000 range a plausible target.

In the future, Mr. Wall Street emphasizes that Bitcoin has entered a supercycle—a phase characterized by price discovery. Despite the possibility of a short-term retest of the $112,000 level before continuing upward, the analyst insists that, regardless of minor setbacks, the price action from this point is likely to be swift and assertive.

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1. Pressure on Key Resistance

Yesterday, XRP buyers were able to push the price up to the key resistance level of $2.3, but sellers promptly stepped in to prevent a breakout. At present, the price is experiencing a pullback, but this is not necessarily a bad sign. It suggests that buyers are regaining their footing and if this bullish momentum continues to build, we could see $2.3 breached, followed by a trial of $2.6.

2. Return of Optimism

With the price showing a clear intent to make higher highs, there is a renewed sense of optimism surrounding this cryptocurrency. This sentiment is reflected in the volume profile, where buyers have been dominating over the past few days. A successful break above $2.3 is expected to cause a surge in volume, potentially driving the price to new heights.

3. MACD Indicator Turns Bullish

After the daily MACD flipped to positive territory last week, the 2-day MACD has followed suit today. This indicates the buying momentum is gradually permeating into higher timeframes, which should instill confidence in the price action and entice more buyers. Given this positive feedback cycle, there’s a good chance XRP could reach $2.6 or even higher in July.

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Key Support and Resistance Levels

The support level for XRP currently stands at $2, with resistance levels at $2.3, $2.6, and $3. The bulls made a robust comeback at the $2 mark, propelling XRP into an upward trend. However, the bull run hit a snag at the $2.2 milestone, allowing the bears to regain control and trigger a price pullback.

Positive Momentum

Despite XRP not hitting a new high, momentum markers on the day-to-day timeline have turned bullish in recent days. This could be an indication of a potential breach of the $2.3 resistance level, irrespective of the current pullback.

MACD Indicates Higher Peaks

While XRP’s price needs more time to reach new heights, the daily MACD histogram has already flipped to bullish and is making higher peaks. This is a positive sign that the price might follow the MACD’s trajectory in the near future. Unless there’s a sudden surge in selling, XRP stands a chance to challenge the $2.3 or even the $2.6 levels.

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1. Increased Buyer Interest

From the chart analysis, it’s clear that the $2.3 resistance level has faced multiple tests in recent weeks. Despite sellers managing to stave off a breakout so far, an upward shift seems inevitable if buying pressure persists. The conversion of the $2.3 resistance level into a support level could potentially propel XRP to reach $2.6.

2. Bullish Momentum

Signs of a bullish trend are evident in the momentum indicators – the daily MACD (Moving Average Convergence Divergence) and RSI (Relative Strength Index) are both showing an upward curve with distinct higher lows. If XRP breaks past the $2.3 mark, it is likely to reach new highs. However, this upward bias will only be confirmed if the $2.3 resistance level is successfully breached by buyers.

3. MACD Bullish Cross

The daily MACD has recorded a bullish cross, indicating that XRP is set for a surge. If the momentum continues in the coming days, there’s a possibility of a sustained rally that could challenge the $2.6 resistance level, or even reach $3, unless sellers step in to halt the upward trend.

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After failing to exceed $2,650, Ethereum commenced a new drop, similar to Bitcoin’s movement. The price of ETH fell past support levels of $2,565 and $2,550. Furthermore, it broke through a significant rising channel with a support level of $2,610 as shown on the hourly chart of ETH/USD (data sourced from Kraken).

The ETH/USD pair might see an extension in losses if it dips below the $2,400 support zone in the near future. After dipping below the $2,500 support level, a low was established at $2,394, with the price now in a consolidation phase.

Resistance near the $2,460 level could be faced on the upside. It is proximate to the 23.6% Fib retracement level of the downward movement from the $2,680 high to the $2,394 low. The first noteworthy resistance is near the $2,540 level, which is close to the 50% Fib retracement level of the same downward movement. A definite move above this resistance could propel the price towards the $2,600 resistance.

If Ethereum fails to clear the $2,500 hurdle, it could commence a new decline. The first significant support is near the $2,380 zone. Should the price fall below this support, it may be pushed towards the $2,350 support. Further losses might see the price nearing the $2,320 support level in the near future. The next crucial support sits at $2,250.

Technical Indicators suggest that the MACD for ETH/USD is gaining momentum in the bearish zone, while the RSI for ETH/USD is now below the 50 zone.

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As the price of XRP compresses further within the channel, it indicates that a significant move might be imminent. The question that remains critical is whether the bulls can gather enough power to reverse the trend or if the bears will prolong their reign.

At present, XRP displays signs of a possible bearish movement after facing substantial resistance near the upper edge of its descending channel on the daily chart. This upper trendline has served as a robust barrier, stopping recent bullish attempts and reinforcing the overall downtrend.

The rejection at this level alludes to the sellers still commanding the market. If the bearish momentum intensifies, the altcoin might revisit lower support levels within the channel, potentially retesting the lower boundary of the descending channel.

In addition, the Moving Average Convergence Divergence (MACD) indicator is nearing a potential bullish crossover. This looming intersection between the MACD line and the signal line has drawn traders’ attention, particularly as it forms near a vital technical zone. A confirmed crossover could signal a possible trend reversal, suggesting an increase in bullish strength after a period of downside pressure.

However, given the recent market instability and past failed breakouts, a sense of skepticism remains. Previous attempts in similar situations have resulted in fakeouts, temporary movements that quickly died down. Therefore, confirmed price action and volume are recommended before becoming too aggressive in positioning. If a breakout from nearby resistance accompanies this cross, it could herald the start of a more vigorous upward move. Otherwise, it risks being just another false alarm in a turbulent market.

Currently, XRP is at a pivotal point as it heads towards the lower boundary of its descending channel. This area has acted as a dependable support level in recent weeks, staving off deeper losses and providing a base for minor rebounds. As the price action heads towards this zone, traders are keenly observing whether buyers can defend it once more, or if the bears will enforce a decisive breakdown.

A steady hold above this support zone could set the stage for a short-term bounce, aiming for mid-channel resistance levels. However, a clean break below this lower boundary might trigger downside pressure, exposing XRP to new multi-week lows such as $0.9353. Given the current fragile sentiment, this support test could be crucial in determining XRP’s next trend.

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The present price activity might not be dramatic, but it embodies the characteristics of a market silently gaining power step by step. This emerging momentum implies that bulls are slowly regaining their footing with renewed assurance.

While the broader crypto market continues to tread with caution, ADA’s measured pace might actually indicate strength rather than vulnerability. Instead of hastily stepping into overbought territory, the cryptocurrency is setting a solid groundwork that might back a more sustainable rally.

In a recent update, crypto analyst Gemxbt highlighted that Cardano presents a bullish configuration, with the price trending steadily above the 5, 10, and 20-hour moving averages. This arrangement of short-term moving averages usually signifies ongoing buying pressure and escalating bullish momentum in the market. It also insinuates that bulls are holding the reins in the short term, keeping Cardano on a consistent upward trajectory.

According to Gemxbt, ADA’s recent price activity isn’t merely a fleeting surge but an indication of solidifying technical underpinnings. When prices remain persistently above key moving averages, it usually denotes heightened trader confidence and a conducive environment for further upward movement.

Gemxbt also pointed out that a significant resistance level is situated around the $0.62 mark, which could pose a near-term challenge for ADA’s price progression. On the flip side, robust support has taken shape near the $0.56 level, offering a buffer against potential downturns. These levels are pivotal in determining the next directional shift, as a surge above resistance could instigate additional gains, while a decline below support might indicate short-term frailty.

The analyst further highlighted that the Moving Average Convergence Divergence (MACD) indicator is currently surpassing the signal line, indicating escalating buying interest. This crossover typically signifies the onset of a momentum switch favoring the bulls, enhancing the chances of continued price appreciation.

Should Cardano persist in its upward swing and successfully surpass the $0.68 resistance level, it could pave the way for additional gains. The subsequent key levels to monitor are at $0.81 and $0.90, where the price may face extra selling pressure. A surge above these levels would propel ADA toward even higher goals, such as $1.17 and $1.58.

However, if ADA fails to penetrate the $0.68 level and recoils, the initial support to watch would be around $0.56 to $0.52, which has historically acted as a strong base. A fall below these levels could signify a shift in market sentiment and trigger a deeper pullback.

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BTC displayed a notable recovery, pushing past the $83,500 zone. It’s being traded over $83,000 and above the 100-hourly Simple Moving Average. A supporting bullish trend line is being formed with a base at $84,500 on the hourly chart of the BTC/USD pair (data procured from Kraken).

As per the current scenario, Bitcoin could witness another surge if it retains its position above the $83,500 zone. Bitcoin managed to stay above the $82,000 support zone, forming a base and initiating a recovery wave surpassing the $82,500 resistance zone.

The bull market successfully pushed the price past the $83,500 and $84,200 resistance levels. The value even surpassed the $85,000 resistance, reaching a peak at $85,487. Bitcoin is now consolidating its gains above the 23.6% Fib retracement level from the upward move from $81,320 to $85,487.

Bitcoin’s price is now trading above $83,500 and the 100 hourly Simple Moving Average. A supporting bullish trend line is being formed with a base at $84,550 on the hourly chart of the BTC/USD pair.

On the upside, the immediate resistance is at the $85,200 level. The primary key resistance is located at the $85,500 level. The subsequent key resistance could be $85,850. If it closes above the $85,850 resistance, it could propel the price even higher, potentially testing the $86,650 resistance level. Any further gains could steer the price toward the $88,000 level, or possibly $88,500.

However, if Bitcoin fails to surpass the $85,500 resistance zone, it could initiate a new decline. Immediate support on the downside is near the $84,500 level and the trend line. The first significant support is near the $83,500 level and the 50% Fib retracement level of the upward move from $81,320 to $85,487.

The subsequent support is currently near the $82,850 zone. Any further losses could steer the price toward the $82,000 support in the near term. The main support is stationed at $80,500.

Technical indicators:

• Hourly MACD – The MACD is now losing pace in the bullish zone.
• Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
• Major Support Levels – $84,500, followed by $83,500.
• Major Resistance Levels – $85,200 and $85,500.

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The failure to overcome this resistance indicates that bears still hold sway, keeping Ethereum’s price under continuous strain. As the momentum wanes and the market sentiment turns wary, traders are keeping a close watch on key support zones to anticipate the next move.

Bearish Pressure Intensifies: What’s in Store for Ethereum?

Facing mounting downward pressure, Ethereum’s latest recovery effort was thwarted at the $2,160 resistance level. This unsuccessful breakout has strengthened bearish sentiment, with key technical indicators signaling weakness. If the buyers do not intervene, a further dip in ETH’s value may be imminent.

One alarming sign is the waning volume during the recovery attempt. A robust breakout often necessitates significant buying interest, but the lack of momentum in Ethereum’s rally made it easy for sellers to regain the upper hand. This lack of determination among bulls implies that the upward move was not sustainable, enabling bears to drive prices lower.

Moreover, the Relative Strength Index (RSI) has plummeted, falling below crucial thresholds that denote weakening bullish strength. The currently declining RSI signifies that buying pressure is fading, posing a challenge for Ethereum to build upward momentum. If the RSI continues its downward trend, it could further validate a prolonged bearish phase.

The Moving Average Convergence Divergence (MACD) has also taken a negative turn, with a break below the signal line and an expanding gap between the MACD and its moving average. This crossover indicates that bearish momentum is gathering pace, diminishing the chances of an immediate recovery. The MACD breakdown, when coupled with other bearish signs, further bolsters the case for continued downside.

Looking ahead, ETH might retest crucial support zones. However, a strong rebound from lower levels could give bulls another opportunity to regain lost ground. As of now, the charts imply that Ethereum remains susceptible to further declines.

Support Levels To Monitor: Can Bulls Avert Further Decline?

With focus now shifting to crucial support levels, the first significant support to monitor is around $1,523, a level that previously served as a short-term demand zone. If Ethereum maintains above this zone, it could provide bulls with a base for another rebound attempt. However, a break below this level could signify growing bearish dominance, elevating the risk of deeper losses.

Below $1,523, the next critical support is at $902, coinciding with previous price reactions and serving as a psychological level for traders. A failure to hold here could intensify selling pressure, driving ETH towards other lower support levels.

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Significantly, Bitcoin managed a robust recovery wave that took its price higher than the $87,000 zone. The cryptocurrency is currently trading above $86,800, backed by the 100-hourly simple moving average. An encouraging bullish trend line is also forming, showing support at $87,400 on the hourly BTC/USD chart, based on the data from Kraken.

This pair could potentially trigger another surge if it breaks through the resistance levels at $88,000 and $88,800.

Bitcoin has held firm above the $84,200 threshold, forming a solid base before initiating a recovery wave that broke through the $86,500 resistance. The bulls managed to push the price past the $88,000 resistance level, but were met with resistance from the bears around the $88,800 mark.

After the price dipped below the $88,000 mark, it tested the 50% Fibonacci retracement level of the upward swing from the $86,306 low to the $88,500 high. The Bitcoin price is currently trading higher than $86,500, and the 100 hourly Simple moving average, showing a bullish trend line forming with support at $87,400 on the hourly BTC/USD chart.

On the upside, the immediate resistance is around the $88,000 level. The first significant resistance is near the $88,500 level, followed by a possible resistance at $88,800. If the price manages to close above the $88,800 resistance, we could see a further upward trend, potentially testing the $89,500 resistance level. Any additional gains could propel the price towards the $90,000, or even $90,500 mark.

However, if Bitcoin fails to break through the $88,000 resistance zone, it might trigger a fresh decline. The immediate support on the downside is near the $87,400 level and the trend line. The first major support is around the $87,150 level or the 61.8% Fibonacci retracement level of the upward swing from the $86,306 low to the $88,500 high.

The next support is near the $86,500 zone. Any further losses might drive the price towards the $85,000 support in the near term, with the main support sitting at $84,500.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $87,400, followed by $87,150.

Major Resistance Levels – $88,000 and $88,800.

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