Macro Overview
- US Federal Funds Rate: The US Federal Reserve kept the Federal Funds Rate unchanged, a move that was widely expected and is considered neutral for the crypto market. As a result, there was no significant reaction from major cryptocurrencies, with prices remaining largely stable following the announcement.
- US Unemployment Claims: The latest US Unemployment Claims data came in in line with expectations, resulting in a neutral impact on the market. Crypto and traditional markets showed no major reaction, as the data reflected stability in the labor market without surprising investors.
Crypto Markets Overview
Top Altcoins Update
- EigenLayer Launches EigenCloud, Secures $70M Investment from A16z: EigenLayer has introduced EigenCloud, a new developer platform designed to bring trust and verifiability to both onchain and offchain applications, alongside a $70 million investment in EIGEN tokens from venture capital firm A16z. Built on Autonomous Verifiable Services, the platform includes new tools like EigenVerify and EigenCompute, aimed at making verifiability a programmable cloud service. EigenCloud’s goal is to power Web2 applications with blockchain-grade trust, targeting major sectors such as AI (LLMs), healthcare records, and media for enhanced transparency and accountability.
- Solana ETF Approval Odds Climb to 76%, Boosting Investor Confidence: According to prediction market data shared by SolanaFloor on X, Polymarket now estimates a 76% chance that the SEC will approve Solana ETF S-1 filings by July 31. The rising probability reflects growing optimism among investors, suggesting increasing confidence in the regulatory path ahead for Solana-based exchange-traded funds.
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Jun-26 | 6:00 PM | US Final GDP q/q | Actual’ less than ‘Forecast’ is good for crypto |
| Jun-26 | 6:00 PM | US Unemployment Claims | Actual’ greater than ‘Forecast’ is good for crypto |
| Jun-27 | 6:00 PM | US Core PCE Price Index m/m | Actual’ less than ‘Forecast’ is good for crypto |
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Neutral.
- Bitcoin has remained sideways, as mentioned in our last weekly report. Still, the price action is mixed and uncertain. We expect it to continue for a few more days.
- Key support levels to consider are around $101,400 and $99,100. On the upside, resistance level is at $110,000 and $111,700.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Neutral.
- ETH attempted a breakout this week but failed to sustain momentum. It continues to hold above key range support. While global tensions are adding uncertainty to the market, our technical view remains unchanged from last week. If strength returns, a breakout remains likely in the coming days.
- Significant support levels include $2466, $2380 and $2275, while resistance levels to watch are at $2680 and $2821.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
Solana Technical Analysis
Summary:
- The current sentiment around SOL is Neutral.
- SOL continued to decline following the ETF news but is now sitting at a key support level. Considering the broader market uncertainty, we expect SOL to remain range-bound for now.
- Key support levels to consider are around $144 and $125. On the upside, resistance level is at $160 and $187
It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent. - For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
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