BTC continues to hover around $56,000, and most popular altcoins, except for SOL Coin, have turned red. SOL Coin saw a 0.3% increase in the last 24 hours, recovering its losses. Is the risk over? No, the risk has not disappeared, and sudden sales are likely as on-chain alarms sound. So, what are the predictions for ETH, BNB, and SOL Coin?
Ethereum (ETH)
Altcoin bears found strong support for the king and normalized the ETH price below $3,000 with MTGOX. ETH fell to $2,850. RSI is at the oversold point. Since there are no continuous declines in crypto, a relief rally can be expected from here. However, there is still a risk of $8.5 billion in sales from Germany’s 40,000 BTC and MTGOX. If these on-chain alarms continue to flash red, abnormal pricing can occur under abnormal conditions.
If the price turns up from the current level, a recovery to $3,373 can be seen. In the opposite scenario, if the decline continues, sales can reach $2,200 with closures below $2,850. This would be the bottom point in an abnormal environment.
Soon, S-1 form approvals for ETH ETF will come, and the final forms must reach the SEC by July 8. The listing date can be finalized within a few days afterward.
BNB Coin Analysis
With the loss of the $536 level, BNB Coin could drop to $495 and below, as we mentioned earlier. Our warning this week was accurate. BNB Coin, which peaked at $700, is now trading at $496. The reclaiming of key support is quite positive, and if recovery starts, the levels of $536 and then $570 can be reclaimed.
If the decline continues, the risk of sales continuing to $400 will emerge.
Solana (SOL)
SOL Coin bulls had a key level at the SMA50 point of $154, but sales began with the general market decline as this level could not be surpassed. Fortunately, the $116 support was not lost due to SOL Coin ETF applications that have not yet been fully priced in. The price did not recover quickly and is now hovering at $136. If the EMA20 at $141 can be surpassed, $154 can be targeted again.
Otherwise, a drop to $100 and below is possible.
