Crypto Market Analysis Today [2024.06.26]: BTC to 50K?

Hi, Welcome to Crypto Market Analysis Today!

• Bitcoin (BTC): Trading just above $60,000 after breaking key support. If it drops below $60,000 again, it may fall to $58,000.
• Ethereum (ETH): Dropping, with support around $2,800 and resistance around $4,000. It bounced from $3,240 to $3,440 and is now falling.
• Binance Coin (BNB): In a downtrend, currently dropping after breaking support at $635. Next support is around $508.

Watch for potential breakouts and market shifts today!

Key Events Today

These events encompass important global news, macroeconomic reports, and economic indicators. For more details, you can check the CoinMarketCal & Crypto Craft.

There are no major economic events that could affect crypto market today!

BTC

Looking at Bitcoin (BTC), it has broken the key support around the $60,000 level and is now trading just above that point.

Looking at the 1-hour chart, the price of Bitcoin (BTC) fell below the $60,000 support and bounced back from around $58,000. It then rose to $62,000 and met resistance there. This suggests strong selling pressure. If the price drops below $60,000 again, we can expect it to fall further, possibly to at least $58,000.

ETH

Looking at Ethereum (ETH), it is also dropping like Bitcoin (BTC). The major support is around the $2,800 level, and the major resistance is around the $4,000 level.

Now, if you look at the 1-hour chart, you’ll see the price of Ethereum (ETH) bounced back from $3,240 and found resistance around $3,440. It is now dropping from that level. This suggests the price may continue to fall to the next support level.

BNB

Looking at Binance Coin (BNB), it is also in a downtrend. After reaching the $720 level, it broke the support around $635 and is now dropping. The next support is around $508.

Looking at the 1-hour chart, you can clearly see the downtrend. We can expect the price to rise to the trendline, pull back from there, reach the resistance, and then start dropping again. Keep in mind, if the price breaks below the trendline, it may fall even faster.

Conclusion & Disclaimer

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These analyses are here to help you understand how to analyze the market. They’re not about giving buy or sell signals. It’s simply about observing market behavior. I don’t recommend when to buy or sell because trading doesn’t work that way. You need a strategy to guide your decisions about when to enter or exit positions. That’s the key to making consistent profits in the financial markets over time.

The information provided in this market analysis is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any securities or investments.

All investments involve risk, and past performance is not indicative of future results. The analysis provided may not be suitable for all investors and should be used at their own discretion.

Readers are encouraged to conduct their own research.

Trading and investing in financial markets carry inherent risks, including the risk of losing invested capital. It is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

GOOD LUCK!!!