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Cryptocurrency Market Stages Next Bull Run With ETH ETF Listing News
In a massive bullish revolt on June 19, the cryptocurrency market cap jumps 3.41% to reach $2.376 trillion. The sudden ballistic move in the market comes with the official announcement of the Ethereum ETF Price Next Week.
Improving broader market sentiment in a flash, the bull run accelerates in Bitcoin and major altcoins. With Bitcoin outperforming Ethereum, major altcoins are poised to end the week on a high note.
Will this surge lead to a breakout rally for Bitcoin to $84K or Ethereum to $5,000? Will major altcoins reclaim their all-time highs? Let’s find out more.
Largest Cryptocurrency Eyes $84K in Q3 2024
With a 4.29% bullish jump last night, BTC is trading at $66,516 after briefly surpassing the $67K level. After bottoming out at $56K, the largest cryptocurrency with a market cap of $1.313 trillion is up 20%.
The uptrend breaks out above the short-term resistance trendline, the 50-day EMA and the 50% Fibonacci retracement level at $64,766. With such a high momentum rally, resistances above are failing to stop the massive BTC price rally.
Approaching the overhead resistance trend line, the breakout rally and the 4.29% bullish engulfing candle tease a jump to $72K. Based on Fib levels, the cryptocurrency price could reach the $84,696 mark.
Ethereum Reemerges Above $3.5K
Jumping 7.92% this week after last week’s 10.77% increase, the ETH Price The stock teases a double bottom reversal on the 1W chart. After the bounce from the 50-day EMA, the cryptocurrency bull cycle inside the 50% and 78.60% Fibonacci levels accelerates.
With the latest news about the Ethereum ETF listing on July 22, ETH price may break above $3,859 or the 78.60% Fib level. Based on the trend-based Fib levels, the cryptocurrency bullish trend may break above the psychological level of $5,000 to reach $5,402.
Solana’s Resurgence Predicts New All-Time High
With a recovery as the broader market recovers, the Price SOL hits the $170 mark and is up 15% this week. After last week’s 12% jump, Solana’s rebound foreshadows a surge above the psychological $200 mark.
Heading to reclaim the 23.60% Fibonacci level, the bullish crossover in the MACD and signal lines reinforces the bullish cycle. If the uptrend continues, the Fibonacci levels paint a target near the psychological $400 milestone for a new all-time high.
The Return of the Undervalued Cryptocurrency: XRP
The trend reversal in XRP price breaks above the upper trend line and the 23.60% Fibonacci level. With a jump of 15% this week and 24% last week, the XRP Price is heading towards reconquering the psychological level of 1 dollar.
With a bullish crossover in the MACD and signal lines, the breakout rally in XRP reignites the bull run. If the uptrend gains momentum, the cryptocurrency price could reach the $1.56 mark.
Read also: Top Layer-2 Tokens Set to Hit $3: Will Polygon (MATIC) Join the List?