Crypto Price Today: BTC Price is Up by 6.19%, ETH Price is by 3.75%, SOL Price by 4.49%

Key Takeaways:

• The bulls have completely dominated the crypto space as the flagship token, Bitcoin, surges beyond one of its major resistances.
• Most of the altcoins follow the trend and undergo a marginal bounce but continue to flash the possibility of a bearish pullback.

CRYPTO MARKET TODAY AT A GLANCE 

The crypto space is undergoing a roller-coaster ride ever since the Bitcoin price marked monthly lows below $25,000. The regulatory uncertainty that led to this downfall also compelled the altcoins to hover within a narrow range. Moreover, some of them witnessed a steep downfall due to enhanced regulatory actions. However, the markets appear to have risen above the odds as Bitcoin is approaching crucial levels at $29,000. 

The BTC dominance is also soaring, approaching 50%, indicating the price may soon trigger a significant upswing, but the altcoins may continue with a narrow consolidation. One of the largest asset management companies, Blackrock, which filed a Bitcoin ETF, is said to be the major catalyst for the recent surge. Besides, Fidelity also joins the race with more adoption, which is further speculated to raise the BTC price beyond crucial resistance at $32,000.

*As of 21-June-2023, 07:15 am

Bitcoin Prices Surge by 7% to Reach Beyond $28,700

Source: Tradingview

The Bitcoin price was stuck within a descending trend after facing rejection from the yearly highs at $31,000 and the lows below $25,000.While the lows at $21,000 were expected to be tested, a significant rebound kicked in, lifting the price close to $29,000 at the moment. The Bollinger bands have just begun to expand, which signifies that the price may maintain an upward trajectory as the RSI is bullish. Therefore, Bitcoin’s technical analysis is bullish, aiming to secure levels above $29,000 before the daily close. 

With the quarterly close on the horizon, the volatility of the markets is believed to intensify, and the recent upswing substantiates the same. The bears are failing to restrict the price below the crucial resistance, while the bulls have begun to utilize their accumulated strength. Hence, the upcoming price action could be fairly biased towards the upper targets, withstanding a couple of pullbacks. Therefore, the Bitcoin price prediction for the rest of 2023 is largely bullish, with targets close to $50,000. 

Read More: Can Bitcoin Price Reach $100,000 in 2024?

Ethereum Price Rises Above $1800 with a Jump of 4.20%

Source: Tradingview

The Ethereum price has maintained a consistent trend above $1600 since the beginning of 2023. Although the bearish action dragged the price lower, it managed to remain within the bullish range. Unfortunately, the recent inverse price action has dragged the ETH price below the crucial trend line, which has been acting as strong support since the beginning of 2023. While the price is attempting to reclaim the levels, the extended bearish influence is making it a tedious job. Hence, the Ethereum (ETH) technical analysis for the day could be largely consolidated. 

As seen in the above chart, the Bolinger bands have begun to squeeze, indicating a bullish strength drop. Besides, the RSI remains incremental but flashes the possibility of a bearish divergence. Additionally, after testing the 50-day MA at $1822, the price is facing a minor pullback, which is not validated as long as it remains above $1800. Therefore, rising above these levels and entering the ascending triangle is extremely crucial to keeping up the bullish trend. Hence, the Ethereum price prediction for 2023 is largely bullish, aiming to reach $2000 at the earliest. 

Additional Read: Ethereum Cancun -Deneb Upgrade

Latest Updates of the Crypto Market 

• The investors appear to be excited over Blackrock and Fidelity Investments applying for spot BTC ETF.
• The US dollar index (DXY) has been cooling drastically, due to which the crypto space is experiencing a significant upward movement.
• Deutsche Bank has applied for regulatory permission to operate custody services for digital currencies such as cryptos.
• A crypto exchange, EDX Markets (EDX), will be launched, backed by Fidelity Digital Assets, Charles Schwab, and Citadel Securities, with additional investors.
• Mastercard files a trademark application to develop crypto and blockchain software.

What’s Happening at CoinDCX Crypto Exchange 

CoinDCX is hosting the biggest futures battle, ‘Traders Premier League 2023’, a 45 days event of Crypto Future Trading. Here, all the participants will be divided into 10 teams, and these teams will be competing against each other to win the ultimate prize pool. 

Registrations started on June 15, 2023, and the competitions will begin on June 22, 2023.