LTC has defended the $75 low, forming a double bottom in the process.
The coin could rally towards the next liquidity level at $95 soon.
LTC defends the $75 low, surges to $85
Litecoin’s LTC is recovering nicely from its recent slump and looks set to rally higher in the near term. The cryptocurrency is up 1% in the last 24 hours and now trades above $85 per coin.
The positive performance comes amid a strong recovery from the broader cryptocurrency market. The ceasefire deal between Iran and Israel saw over $200 billion added to the crypto market, with Bitcoin now trading above $107k.
Litecoin’s medium-term rally could also be boosted by the possible approval of a Litecoin ETF. Several firms have already filed for spot Litecoin ETFs with the SEC, and any news of an approval could serve as a big boost for LTC.
LTC targets $95 amid bullish technicals
The LTC/USD 4-hour chart is bullish but inefficient. The inefficiency means that LTC could likely retest a lower liquidity level before rallying higher. LTC could retest the $82 level over the next few hours before it resumes its upward movement.
The MACD lines currently read 0.72 after crossing into the positive zone earlier this week. The RSI of 58 also shows that buyers are regaining control of the market. If the bullish trend grows stronger, LTC could rally towards the $95 mark.
However, Litecoin will need backing from the broader cryptocurrency market if it intends to surpass the $107 transactional liquidity level.
LTC’s rally depends on the fundamentals of the broader market. If bears regain control on the back of another conflict in the Middle East, then LTC could retest the $75 low or even drop to the next support level at $66.
The price level marks a continuation of the range-bound movement XRP has hovered around since mid-April.
The prolonged consolidation comes as broader market volatility eases and investors await catalysts that could define price action in the third quarter.
Technical and on-chain indicators, however, suggest that XRP may be on the verge of a trend reversal.
With key metrics such as the MVRV Z-score signalling undervaluation, and whale sell-offs slowing to a standstill, market dynamics appear to be shifting.
If these developments persist, XRP could break its sideways trend and move towards retesting its previous highs from January.
Undervalued status based on MVRV Z-score
XRP’s current Market Value to Realised Value (MVRV) Z-score is at 2.13.
Historically, XRP has reached overbought levels when this metric moves between 3.45 and 6.72.
In January, for example, the Z-score stood at 6.65 when the token hit $3.25, followed by a price rejection and eventual correction.
Similarly, a failed recovery attempt in March also coincided with a relatively high Z-score.
These instances contributed to the token’s recent consolidation.
However, the current reading suggests XRP remains undervalued based on market conditions, and that the downward pressure from previous overvaluation periods may be easing.
If accumulation begins to build, a new rally could follow.
Whale activity hits zero as selling pauses
Large-scale holders, often referred to as whales, have historically played a major role in XRP’s price movements.
According to recent data from CryptoQuant, Whale-to-Exchange Transactions have dropped to zero.
Just two days earlier, there were 2,716 such transactions, indicating active selling pressure.
The drop to zero suggests that whales are no longer moving their holdings to exchanges, likely opting to hold instead of liquidating.
This pause in sell-offs could help stabilise XRP around the $2.17 level and position the cryptocurrency for potential upside.
Some of the sentiment shift may be attributed to macroeconomic expectations, particularly around monetary policy.
With speculation growing that the Federal Reserve may introduce interest rate cuts between July and September, investors are reassessing their exposure to risk assets.
If borrowing costs decrease, capital could flow back into the crypto market, including XRP.
Technical indicators support bullish setup
The daily price chart presents several technical signals that align with the bullish on-chain data.
The Chaikin Money Flow (CMF), an indicator of buying and selling pressure, has crossed above the zero line and is now approaching the upper boundary of a falling wedge pattern.
A breakout from this structure could confirm the beginning of a new uptrend.
The Moving Average Convergence Divergence (MACD) indicator has also flipped bullish, showing a crossover that supports upward momentum.
If this trend holds, XRP may surpass the resistance at $2.25 and move towards $2.69, which corresponds to the 0.236 Fibonacci retracement level.
Beyond that, if sustained volume supports the rally, XRP could attempt a retest of its January peak at $3.40 before the end of the next quarter. Should momentum continue, a new all-time high may be within reach.
However, a reversal remains possible if whale activity resumes or broader market demand softens.
In such a case, XRP could decline to the $1.54 level, aligned with the 0.618 Fibonacci support.
Cardano’s ADA is the worst performer among the top 10 cryptocurrencies this week, down 5%.
ADA could retest the $0.5111 low if the bearish trend continues.
ADA underperforms despite market recovery
ADA, the native coin of the Cardano blockchain, is the worst performer among the top 10 cryptocurrencies by market cap so far this week. The coin has lost nearly 6% of its value in the last seven days and looks set to dip further over the next few hours or days.
At press time, the price of ADA stands at $0.5662, down 2% in the last 24 hours. The bearish performance comes despite Bitcoin, Ether, and other major cryptocurrencies staging a recovery following last weekend’s dump.
The broader crypto market added nearly $200 billion to its market cap since Monday, with Bitcoin hitting the $108k level. However, ADA is yet to embark on a significant recovery, with the price action still bearish.
ADA to retest the $0.5111 low with bears still in control
The ADA/USD 4-hour chart is bearish and efficient, indicating a strong bearish bias on higher and lower timeframes. The technical indicators are also negative, showing that sellers are currently in control.
The MACD line has dropped into the negative territory while the RSI of 44 shows selling pressure. Both indicators are signs that ADA is currently bearish and could face further downward movements in the near term.
With the sellers navigating the ADA/USD pair, ADA could test the $0.5111 low soon. In the event of an extended bearish run, ADA will likely drop to the $0.4590 support level for the first time since November 2024.
However, the broader market is bullish, and this could rub off on ADA. If that happens, ADA could retest the previous week’s high of $0.6580. It would take a massive rally for ADA to surge towards the monthly high price of $0.7500.
Ether is trading at $2,500 and could rally to the $3k level soon.
The positive performance comes amid increased retail investment in cryptocurrencies.
ETH recovers the $2,500 level, could surge higher soon
Ether (ETH), the native coin of the Ethereum blockchain, has hit the $2,500 mark and could rally higher. This latest development comes following a bearish weekend that saw ETH’s price dip to the $2,100 region.
At press time, the price of ETH stands at $2,501 and could rally higher if the market conditions remain bullish. The positive performance comes as more retail investors increase their exposure to cryptocurrencies.
According to recent data by eToro, U.S. retail investors are increasing crypto exposure amid a weakening dollar and rising global uncertainty. eToro revealed that 58% of U.S. retail investors are rebalancing their portfolios to favor digital assets.
ETH could surge to the $3k resistance level soon
The ETH/USD 4-hour chart is extremely bullish and efficient, indicating that Ether’s price could surge higher in the near term. Ether has taken out the inducement liquidity (ILQ) at $2,378 yesterday and could rally towards the next resistance level.
If the bullish momentum persists, ETH could take out the monthly high price of $2,877 and rally to $3k, its highest level since February. In the event of an extended rally, ETH could seek out the fair value gap (FVG) around $3,200.
The relative strength index (RSI) of 62 shows that buyers are in control. If the RSI goes higher, then the ETH/USD pair will enter the overbought territory. The MACD lines are also in the positive region, indicating a bullish bias.
While the market remains bullish, the bears could still regain control. If that happens, ETH could retest the $2,100 lows.
BaFin has ordered a 42-day USDe redemption, ending Ethena GmbH operations.
ENA price is struggling to hold the support near $0.26 amid consolidation.
A break above $0.2700 could trigger short-term upside targets, while a break below could trigger a further decline.
The price of Ethena (ENA) is under pressure as traders digest a major regulatory move by BaFin, Germany’s financial regulator, which has ordered the shutdown of Ethena GmbH and introduced a 42-day redemption window for USDe stablecoin holders in the European Union.
The announcement has added a fresh layer of uncertainty around Ethena’s operations in the region, while simultaneously raising critical questions about the future of its stablecoin and its broader compliance strategy.
In line with the regulatory headwinds, ENA is holding a key support level, sparking cautious optimism among some market participants who are watching for the next move.
BaFin ends Ethena GmbH probe with redemption deal
On June 25, BaFin and Ethena GmbH reached a formal agreement to close their months-long regulatory standoff through a supervised redemption process for USDe holders within the EU and EEA.
This decision follows a crackdown that began in March, when BaFin blocked Ethena GmbH from distributing its USDe stablecoin and froze its reserve assets due to violations of the Markets in Crypto-Assets Regulation (MiCA).
Then, on April 15, Ethena announced it was winding down its operations in Germany.
BaFin argued that sUSDe, a yield-bearing version of USDe, qualified as an unregistered security under EU law, triggering the enforcement actions that eventually forced Ethena Labs to retreat from Germany.
Under the agreed terms, USDe holders in the EU have until August 6 to submit redemption claims directly with Ethena GmbH.
After the deadline, any unresolved claims will have to be filed with Ethena’s offshore entity in the British Virgin Islands, effectively ending the company’s regulated operations within the EU framework.
Ethena Labs stated that once the redemption process concludes, it will have no outstanding issues related to its German entity, though it did not clarify whether it plans to return to the EU market in the future.
ENA token struggles but shows resilience
Amid this regulatory backdrop, ENA’s price is showing signs of consolidation, with buyers defending a critical support zone near $0.26.
Although the token has lost over 30% in the past month and more than 55% over the last year, price action indicates that a potential reversal could be forming, provided bullish momentum builds above the $0.2700 level.
Currently, ENA is trading at $0.2613 after a modest intraday decline of 3.2%.
It remains within a narrow range between $0.2602 and $0.2757 over the past 24 hours.
Analysts note that if ENA can reclaim the $0.2700 resistance level with strong volume, a short-term breakout toward $0.2735 and possibly $0.2768 could follow.
However, if the token closes below $0.26, the setup would be invalidated, increasing downside risks and possibly inviting further selling pressure.
