Crypto Price Update: Bitcoin Price fails to hold above $30,800 & other Altcoins face Bearish Actions

Key Takeaways

• Bitcoin continues to hover within the same narrow regions after facing rejection from the interim highs at $31,000
• The majority of altcoins also experience marginal losses but continue to hold above the gains.

Crypto Market Today at a Glance

The bitcoin price has received a significant bullish push as the price just before the day’s close soared high to reach levels close to $31,000. Besides, the altcoins also jumped into action and maintained a decent upswing.  After closing the day’s trade on a bullish note, it was believed that the markets could maintain a notable rise. Unfortunately, the BTC price faced rejection and slid below $30,500. It is currently trading at $30,430.45 with a minor surge of 0.08%. 

Meanwhile, Ethereum is on its way to recovering the losses incurred during the early trading hours and trades at $1,863.72 with a drop of 0.42%. The other tokens within the top 10, like Binance Coin (BNB), Cardano (ADA), Dogecoin (DOGE), Tron (TRX), & Solana (SOL), drop by 1.64%, 0.78%, 0.78%, 0.29%, and 0.30%, respectively, while XRP shows some strength and rises by 0.07%. Bitcoin Cash (BCH) continues to lead the top gainers with a 5.31% jump, followed by VeChain (VET) with 4.36% and Woo Network (WOO) with 3.11%.

*As of 28-June-2023, 09:25 am

Bitcoin Price fail to hold above $30,800 but records Marginal Rise of 0.15%

Source: Tradingview

• Bitcoin, in the short term, is appearing to carry significant strength as the prices continue to hover above the major support. 
• Although the price is trading within a decisive symmetric triangle, the apex may be reached during the first week of July, and till then, the BTC price may carry a sluggish trade.
• The RSI displayed a bullish divergence and as the ADX is bearish, the price may follow a stagnant trend for a while without any major price variations.
• However, in the long-term, the price appears to be bullish, which may hold the rally in times of extended bearish trend.

Read more: BTC Price Prediction 2023

Ethereum Price attempts for a Rebound while the Bulls remain Unresponsive

Source: Tradingview

• Ethereum price has been trading within a parallel channel for more than a week, failing to slice through the upper resistance at $1931
• The recent pullback had dragged the price below support but soon underwent a recovery and entered back into the channel.
• Presently, the bears have dominated the rally and attempting to drag the price lower, but the strength of the rally, ADX, is bullish, which signifies the price will remain within the bullish zone.
• Unfortunately, the selling pressure is still at its peak, but the MACD is flashing the possibility of undertaking a bullish crossover soon, lifting the price towards the major resistance at $1880.

Read more: ETH Price Prediction 2023

Latest Updates of the Crypto Market

• Ripple recently announced that the Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger is available on a new version of Devnet (v2) for testing and development.
• One of the most popular exchanges in the US, Robinhood, is set to lay off 7% of its full-time employees, or about 150 people.
• Algorand blockchain underwent a crucial upgrade aiming to process faster transactions, offering developers well-equipped tools.
• Shiabrium beta version achieves a huge milestone of surpassing the total number of transactions above $24 million.

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The contest has already begun on June 22, 2023, and will end on August 6, 2023, at 11:59 pm. So, download the CoinDCX app and register to participate in the contest. 

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