While Bitcoin's price has dipped below $60,000, it is showing signs of a potential recovery. Bitcoin bulls are currently trying to push the price above $62,500, which could trigger a breakout and lead to a potential rally to $70,000. However, if the price falls below $60,000, it could plummet to $56,552.
Meanwhile, several altcoins have also experienced weakness, but some, like TON, AVAX, KAS, and XMR, are showing signs of strength and potential for upward movement.
Toncoin (TON) is currently trying to stay above $7.67. If it manages to break through this resistance level, it could rise to $8.29 and potentially reach $10. However, a sharp decline below $6.60 could lead to a bearish head-and-shoulders pattern, resulting in a drop to $4.91.
Avalanche (AVAX) is attempting to break through the $29 overhead resistance level. A successful breakout could push the price to the 50-day SMA at $32.78. However, if the price falls from the current level, it could retest the June 24 low of $23.51.
Kaspa (KAS) has recently closed above the $0.19 resistance level, completing a cup-and-handle pattern. If it can maintain its position above this level, it could climb to $0.24 and reach the pattern target of $0.28. However, a sharp decline below $0.19 could indicate a bull trap and pull the price down to the 20-day EMA at $0.16.
Monero (XMR) is trying to rebound from the 20-day EMA at $165. If it manages to break above $172, it could rally to the $180 resistance and potentially reach $190. However, a break below the 20-day EMA could signal a continuation of the bear market and drop the price to the 50-day SMA at $155.
Key Points:
Bitcoin is trying to recover, with bulls aiming for a price break above $62,500, which could lead to a rally towards $70,000.
TON is showing signs of strength and could reach $10 if it breaks above $7.67.
AVAX is attempting to break through the $29 resistance level, which could lead to a rise to the 50-day SMA at $32.78.
KAS has recently completed a cup-and-handle pattern and could rise to $0.28 if it maintains its position above $0.19.
XMR is trying to bounce off the 20-day EMA and could rally to $190 if it breaks above $172.
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