Crypto Price Today: Crypto Markets Remain Immobile as Bitcoin, Ethereum & other Altcoins Consolidate!

Key Takeaways

• Bitcoin price fails to gain the levels above the interim resistance at $30,500 as the strength of the rally appears to have diminished. 
• Besides, the majority of the altcoins are also swinging within a narrow range and displaying minimal variation.

Crypto Market Today at a Glance

The previous close was not favorable for the bulls, as a notable pullback caused minor losses. Despite this, the levels were maintained above the interim support and triggered a decent rebound during the early trading hours. However, the volume continues to remain lower, which may compel the prices of the major cryptos to trade within a narrow range. Besides, the current trade setup also suggests the markets have a possibility to maintain a consolidated trend until the end of the month. 

At the time of writing, Bitcoin price hovers just below $30.500 while Ethereum is around $1872.78. The other cryptos within the top 10 ranks, like XRP (XRP), Cardano (ADA), Dogecoin (DOGE), and Solana (SOL), have dropped by 0.54%, 2.07%, 1.02%, and 1.45% respectively. While Binance Coin (BNB) and Tron (TRX) have maintained a decent upswing of 0.56% and 2.23%, respectively. Bitcoin Cash (BCH) leads the top gainers with a 13.92% jump, followed by Arbitrum (ARB) with 10.36% and Injective (INJ) with 9.54%.

*As of 27-June-2023, 09:15 am

Bitcoin Prices Maintain Sluggish Trend, Rise Marginally by 0.29%

Source: Tradingview

After hovering within a narrow range, the BTC price soared, peaking above $30,259 in the short term and reaching close to $31,500. Since then, the trend has flipped and has maintained a bearish action but has managed to sustain above $30,000. Presently, the price is approaching the edge of the descending triangle, which is considered bearish and hence poised for a rejection from the interim support at $30,200. Hence, the BTC technical analysis suggests a drop to $29,905 for a while, which could trigger a notable rebound soon.

In the long term, the Bitcoin price forecast is fairly bullish as it continues to hold the lower support. Although the volume and volatility have diminished, the trend remains under bullish influence. The price has formed a bull flag in the daily chart; hence appears to be due for a massive breakout to reach highs above $31,500 very soon. Hence, the Bitcoin (BTC) price prediction for the month is around $30,800 to $31,200. 

Read more: Bitcoin Price Prediction 2023

Ethereum Price is Gaining Strength, May Regain $1900 Soon.

Source: Tradingview

Ethereum technical analysis in the short term suggests the token is displaying acute strength and is self-assured of a massive upswing ahead. The price is trading within an ascending triangle after the recent drop toward the lows of around $1632. It is heading toward the apex of the consolidation, and hence a giant price action is expected to go above $1930 initially and later head toward $2000. However, until the ETH price does not secure levels above $2017, the fear of rejection may persist.

In the long term, the ETH price continues to be bullish, as it is trading along an ascending trend line since the beginning of 2023. Even though the bears have dragged the price lower multiple times, bulls have maintained significant strength. Therefore, the price may maintain an ascending consolidation to reach the edge of ascending triangle and trigger a bullish breakout. The Ethereum (ETH) price prediction for the week is between $1,912 to $2,008.

Read more: Ethereum Price Prediction 2023

Latest Updates of the Crypto Market

• In a recent tweet, the founder of Shiba Inu, Ryoshi, hinted towards a new use case for Shiboshi in partnership with the Kanpai agency and tech project Bad Idea AI.
• Hong Kong’s banking giant HSBC offers their customers Bitcoin and Ethereum ETF products.
• A dormant Ethereum whale moved millions of ETH after six long years, worth more than $15 million, raising speculation of a move price action very soon.

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Read more: Top Altcoins 2023