June has been a turbulent month for the cryptocurrency markets, as many of the leading digital currencies have experienced significant declines. Bitcoin (BTC) attracted considerable attention in the final week of trading, dropping rapidly from its stable levels around $66,000 to approximately $60,000. Concerns about potential actions by the German government or Mt. Gox have contributed to the fear of further price collapse.
Similarly, Solana (SOL), the token associated with one of the most active blockchains in the industry, has been the subject of rumors. Some have speculated that a significant issue with the token will soon be exposed as it plummeted from about $180 to less than $130.
However, technical analysis conducted on June 25 by crypto expert Ali Martinez suggests that the downward trend may be coming to an end. The TD Sequential, a respected technical analysis tool, has indicated buy signals for several cryptocurrencies, including Bitcoin, Solana, Cardano (ADA), and Shiba Inu (SHIB). This tool analyzes an asset’s past performance to predict a potential reversal and to identify when it might occur.
While SHIB and ADA did not experience as steep of a decline as Bitcoin and Solana in the last 7 days of trading, both cryptocurrencies have seen significant decreases over the past 30 days. Shiba Inu is down 31%, while Cardano has dropped by 15.91%.
Furthermore, the rally is evident in the 24-hour charts for three of the four cryptocurrencies, with the exception of Bitcoin. The altcoins have seen significant increases in value over the course of the day’s trading. Although Bitcoin has avoided a more severe price collapse for now, its 24-hour chart remains largely negative, and its expected rally is far from confirmed, with the current price standing at $60,627.
It’s important to note that the content on this site should not be taken as investment advice, as investing in cryptocurrencies carries inherent risks.
