The cryptocurrency market starts its last trading day with Bitcoin $103,870 lingering around $105,600, and despite minor declines among altcoins, missiles are still flying with no concrete steps toward resolution. Positive news regarding tariffs and the war is eagerly awaited. Amidst the busy news cycle, a popular analyst turns the spotlight on Solana
$142 (SOL) for potential opportunities.
Solana (SOL)
Solana, one of the largest altcoins by market value, is gaining serious attention due to its high speed and low transaction fees. However, delayed interest rate cuts and the anxiety caused by the war are putting downward pressure on its price, similar to other cryptocurrencies. An analyst under the pseudonym Phoenix believes in Solana’s long-term potential but warns of possible short-term losses.
“I remain optimistic about SOL in the long run, but short-term bearish trends persist. How can this be overcome? Easily break the top, disrupt the bearish market structure combined with a breakout above the 200 EMA (4-hour). Then stay above this level and await the next leg.
It will take some time.”
Ethereum (ETH) and Bitcoin (BTC)
Ethereum’s journey towards a $3,000 target was interrupted by the shadow of war, but there was no major crash. Trump intends to make a decision within two weeks, and if tensions are not escalated, Iran appears open to an agreement. Significant developments are expected within two weeks that will guide the direction of cryptocurrencies. Equally important as the war is the tariff deadline on July 9.
Bob Loukas expresses hope, asserting that the bullish trend for Ethereum $2,440 persists.
“I haven’t been this optimistic about $ETH in a while. The narratives are swiftly evolving, the flows are high, sentiment is low, and with favorable price actions and our position in the crypto cycle aligning, everything seems very positive. Frankly, a rise to $4,000 in six weeks wouldn’t surprise me.”
Jelle shares a Bitcoin chart, indicating that the bullish trend continues despite the challenges.
“The trend is your friend. The 50-day MA/EMA cluster is stable, and the price is hovering above previous all-time highs. New peaks are on the horizon.”