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BTC price reached $66,750 in the last 24 hours, pushing ETH price past $3,000. However, it did not last long. In the following hours, we saw a short-term downtrend in cryptocurrencies again. However, LINK Coin, which we warned about today, continues the day with a 6% increase. So, what are the current price predictions for SHIB, BONK, and ETH?
Ethereum (ETH)
Although Ether, the largest altcoin by market cap, surpassed the 20-day EMA, it struggles to maintain the region due to BTC price fluctuations. Social sentiment for ETH is positive, albeit at a low level above the neutral zone. Being at this level on the eve of ETF rejection is relatively good.
The Elder-Ray Index, which measures the strength of buyers and sellers, also gives a positive signal. This indicates that buyers are in a relatively good position. So, what will the price be? On the daily chart, ETH price is trading within a descending triangle, which is generally a bearish signal. This structure, resulting from weakening prices with lower highs, has the potential to see a strong downward break at $2,864.
However, if the upper trend line of the triangle can be surpassed, ETH may target peaks at $3,100 and above again. Next week, the SEC will make its decision on the spot ETH ETF applications. In this context, even the difference between the SEC rejecting all applications or just two applications can have different results on the price. However, we have seen that the rejection decision has been largely priced in for weeks.
BONK Coin Commentary
Investors maintained the support at $0.00002241, and attempts to reach $0.0000250 have not yet succeeded. If BTC price is supportive, BONK Coin may surpass this level and test $0.0000296. Although the mentioned price is one of the strongest barriers before ATH, BONK Coin has been moving sideways since April 24.
In a bearish scenario, losing the support could target $0.0000149.
Shiba Coin Commentary
SHIB did not respond well to the BTC fluctuations that have been ongoing for a few hours and started to decline. Shiba Coin has been stuck between $0.0000214 and $0.0000267 for a very long time. It needs to see a breakout. The upward target is the $0.0000295 resistance, and the downward support is at $0.0000167.
