The recent rejection of ETF applications by the SEC had an initial impact on the market. However, the subsequent resilience shown by Bitcoin and other altcoins in the face of this news indicates that there is strong buying interest at lower levels.

The cryptocurrency market has experienced some fluctuations, with Bitcoin leading the way. As of July 1st, let’s take a closer look at the price analysis of several major cryptocurrencies:

Bitcoin (BTC)

Bitcoin experienced a shallow fall due to the SEC’s decision regarding ETF applications. However, the buyers quickly stepped in, indicating strong support at lower levels. The immediate resistance is near the $36,670 level, and if BTC manages to break through, it could gain momentum towards $40,000.

Ethereum (ETH)

ETH has been consolidating above the support level of $2,000. The bulls have been defending this level, which shows positive signs. If Ethereum remains above $2,000, it could attempt a move towards the $2,246 resistance level. On the downside, a break below $2,000 could lead to further losses.

Ripple (XRP)

XRP has been trending downward, and it recently broke below the $0.650 support level. The next major support is near $0.600, and if the price fails to stay above this level, there could be more downsides towards $0.550. On the upside, the $0.650 level may act as a resistance.

Other Major Cryptocurrencies

Several other cryptocurrencies have also experienced price fluctuations:

• Cardano (ADA) is holding above the $1.30 support level and could see a move towards the $1.40 resistance.
• Dogecoin (DOGE) is showing signs of consolidation near the $0.240 support. If it breaks above $0.260, it could rally towards $0.280.
• Solana (SOL) has been trading within a range between $30 and $35. A break above $35 could open the doors for a move towards $40.
• Litecoin (LTC) is struggling to stay above the $130 support level. If it fails, there is a risk of more downsides towards $120.
• Polygon (MATIC) is currently consolidating above the $1.10 support. It must break above $1.20 to start a fresh increase.
• Polkadot (DOT) is holding above the $14.50 support level. If there is a fresh increase, the bulls could aim for a test of the $16.50 resistance.

FAQs

What caused the recent fluctuations in the cryptocurrency market?

The recent fluctuations in the cryptocurrency market were caused by the rejection of ETF applications by the SEC.

Is there a buying interest at lower levels in the market?

Yes, the shallow fall in Bitcoin and other altcoins after the SEC’s decision suggests that there is strong buying interest at lower levels.

What are the main resistance and support levels for Bitcoin?

The immediate resistance for Bitcoin is near the $36,670 level, while the support level is near $36,000. If BTC breaks through the resistance, it could gain momentum towards $40,000.

What are the key levels to watch for Ethereum?

Ethereum’s key support level is $2,000, and if it remains above this level, it could attempt a move towards the $2,246 resistance level.

What are the price levels for XRP?

XRP recently broke below the $0.650 support level and is now nearing the $0.600 support. On the upside, the $0.650 level may act as a resistance.