The total crypto marketplace capitalization has been stuck roughly between $240 billion and $280 billion for most two months. This range-jump activeness suggests that cryptocurrencies are waiting for a trigger to propel the market place cap higher. As the saying goes, the longer the consolidation, the stronger  the eventual breakout from information technology volition exist.

Daily cryptocurrency market performance

Daily cryptocurrency market functioning. Source: Coin360

Researchers responsible for the recently published Crypto Research Report accept projected a long-term target of $397,727 for Bitcoin (BTC) by 2030. For 2022, the study forecasts a target of $nineteen,044.

The researchers believe that the top-ranked asset on CoinMarketCap has penetrated merely a fraction of its full addressable market, and over the side by side few years as the penetration increases, Bitcoin's price is likely to surge. The written report also projected bullish targets for several altcoins based on the same metric.

BTC/USD

Bitcoin (BTC) broke below the trendline of the ascending triangle on June 27. This has invalidated the bullish setup, which is a bearish sign. The bears are currently defending the trendline that has flipped from beingness a support to a resistance.

BTC/USD daily chart

BTC/USD daily chart. Source: Tradingview

If the BTC/USD pair turns down from the trendline, the bears volition endeavour to sink the price beneath $8,825. If the bears succeed, at that place is a minor back up at $eight,638.79 and if this level breaks down, a decline to $8,130.58 is possible.

The moving averages have completed a bearish crossover for the first time since mid-April, and the relative forcefulness alphabetize is in the negative zone, which suggests that bears are at an advantage.

This surly view volition be invalidated if the pair breaks above the moving averages. Such a motility volition suggest strong buying at lower levels.

ETH/USD

Ether (ETH) broke below the $225.783 support on June 27. In doing so, the biggest altcoin as well broke and airtight (UTC fourth dimension) below the 50-day uncomplicated moving boilerplate ($224) for the starting time fourth dimension since Apr 16.

ETH/USD daily chart

ETH/USD daily nautical chart. Source: Tradingview

The bulls are currently attempting to push the second-ranked cryptocurrency on CoinMarketCap dorsum to a higher place $225.783. The xx-day exponential moving average ($230) is merely in a higher place this resistance.

If the bulls can propel the price above the 20-day EMA, the pair might attempt to rally to $253.556.

Conversely, if the toll turns down from either resistance, the bears volition effort to sink the ETH/USD pair below $216.006. If successful, a driblet to $200 and then to $176.112 is possible.

XRP/USD

XRP is currently trading inside a descending channel, and both moving averages are sloping down, and the RSI is close to the oversold zone. This suggests that bears have the upper hand.

XRP/USD daily chart

XRP/USD daily chart. Source: Tradingview

Although the bulls purchased the dip to the support line of the channel on June 27, they are struggling to carry the cost to the resistance line of the channel, which is a surly sign.

If the 4th-ranked cryptocurrency on CoinMarketCap turns down from the electric current levels or from the resistance line of the aqueduct, the bears will try to resume the downwards move.

A interruption beneath the support line of the aqueduct will intensify selling, and the outset strong support on the downside is at $0.14. If this support breaks down, the decline can extend to $0.124412, which is the pattern target of the breakdown from the triangle.

Contrary to the assumption, if the bulls tin can push the price above the aqueduct, then this could signal the start of a trend change.

BCH/USD

Bitcoin Cash (BCH) bankrupt below the immediate support at $217.55 on June 27 and fell to a low of $204.93. The bulls purchased this dip and pushed the price back in a higher place $217.55 on June 28, which suggests need at lower levels.

BCH/USD daily chart

BCH/USD daily chart. Source: Tradingview

Even so, the bears are not allowing the bulls to have it piece of cake. The downsloping 20-solar day EMA ($233) and the RSI beneath 40 level suggests that bears have the upper mitt. They will once again try to sink the fifth-ranked cryptocurrency on CoinMarketCap below $200.

If successful, a new downtrend is probable. The first support on the downside is at $180, and if that cracks, the side by side level to watch out for is $140.

If the BCH/USD pair rebounds off $200 once more, it volition increase the possibility of a move to $240.

BSV/USD

Bitcoin SV (BSV) plummeted to $135 on June 27 and currently, both moving averages are sloping down as the RSI is shut to oversold levels. This suggests that the trend favors the bears.

BSV/USD daily chart

BSV/USD daily chart. Source: Tradingview

The bulls are currently attempting a pullback, which is probable to face stiff resistance at the breakdown level of $170. If the sixth-ranked cryptocurrency on CoinMarketCap turns down from this level, the bears will try to resume the downtrend and sink the price to $110.

Another possibility is that the BSV/USD pair turns downward from $170 merely stays above $135. In such a case, a few days of range-bound action is likely. The bearish view will be negated if the pair rises and sustains to a higher place $170.

LTC/USD

Litecoin (LTC) plunged below $41 and hit a depression of $39.1843 on June 27. Currently, both moving averages are sloping down, and the RSI is close to the forty level, which suggests that bears accept the upper paw.

LTC/USD daily chart

LTC/USD daily chart. Source: Tradingview

Although the seventh-ranked cryptocurrency on CoinMarketCap bounced sharply from $39.1843, the bulls are struggling to sustain the price to a higher place $41. This suggests a lack of buyers at college levels.

If the LTC/USD pair does not interruption out of the xx-day EMA ($43.26) within the adjacent few days, the bears are likely to make another endeavor to interruption beneath the $39 support. If they succeed, the price could drop to $34.

This surly view volition be invalidated if the pair bounces off the current levels and rises above the moving averages. This will open up up the possibility of a rally back to $51.

BNB/USD

Binance Coin (BNB) bankrupt below the immediate support of $15.72 on June 27 and cruel to a low of $xiv.80. The bulls purchased this dip, but they are struggling to push the price back above the breakdown level of $xv.72.

BNB/USD daily chart

BNB/USD daily chart. Source: Tradingview

This suggests a lack of buyers at college levels. If the 8th-ranked crypto-asset on CoinMarketCap turns downwardly from $xv.72, the bears will try to extend the reject to $xiii.65.

The downsloping twenty-day EMA ($16) and RSI below 40 level suggests that bears have the upper manus. This surly view volition be invalidated if the bulls push the toll above the moving averages.

EOS/USD

EOS broke below the disquisitional support at $2.3314 on June 27, only the bulls purchased this dip and pushed the price back into the $2.3314–$2.8319 range. However, the rebound lacks strength, suggesting that demand dries up at college levels.

EOS/USD daily chart

EOS/USD daily chart. Source: Tradingview

The 20-day EMA continues to slope down, and the RSI is close to the oversold levels, which shows that bears have the upper mitt.

If the bulls fail to push button the price above the xx-mean solar day EMA ($2.51), the bears volition make another endeavor to sink the ninth-ranked cryptocurrency on CoinMarketCap beneath the $2.3314–$2.1926 back up. If this zone cracks, a decline to $ane.80 is probable.

This bearish view volition be invalidated if the EOS/USD pair rebounds off the electric current levels and rises above the moving averages.

CRO/USD

Crypto.com Money (CRO) bounced off the xx-twenty-four hour period EMA ($0.114) on June 28, suggesting that the bulls continue to view dips every bit buying opportunities. The upsloping moving averages also show that the trend favors the bulls.

CRO/USD daily chart

CRO/USD daily nautical chart. Source: Tradingview

The tenth-ranked cryptocurrency on CoinMarketCap has risen above the firsthand resistance of $0.118234 and is now probable to retest the highs at $0.126245. A breakout of the highs can consequence in a rally to $0.135202 and so to $0.15306.

The only negative development on the chart is the surly divergence on the RSI. This suggests that the uptrend is weakening. If the bulls fail to sustain new highs, it could result in a pullback below $0.11. Therefore, traders should exercise circumspection.

ADA/USD

Cardano (ADA) has formed a symmetrical triangle. The 20-twenty-four hour period EMA ($0.0797) is gradually moving higher, and the RSI has bounced off the fifty level, which suggests that bulls are at a slight advantage.

ADA/USD daily chart

ADA/USD daily chart. Source: Tradingview

The first sign of forcefulness will be a breakout and close (UTC time) in a higher place the resistance line of the triangle. If the momentum tin carry the 11th-ranked cryptocurrency on CoinMarketCap above $0.0901373, the uptrend is likely to resume.

The next target on the upside is $0.10 and above it $0.10686, which is the pattern target of the breakout from the triangle.

Conversely, if the bears sink the ADA/USD pair below the support line of the symmetrical triangle, a drop to $0.069488 is possible. Beneath this level, the decline can extend to $0.0549, which is the blueprint target of the breakdown from the triangle.

The views and opinions expressed here are solely those of the author and exercise not necessarily reflect the views of Cointelegraph. Every investment and trading motility involves risk. You should behave your own research when making a decision.

Marketplace information is provided by HitBTC commutation.