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The global crypto market cap increased 0.31% over the past 24 hours according to CoinMarketcap – taking the total to around $1.2 trillion at press time. As the new month begins, Ethereum Classic (ETC), Solana (SOL), Chainlink (LINK), Synthetic (SNX), Filecoin (FIL), Litecoin (LTC), Curve DAO (CRV) and Injective (INJ) have the potential to soar this July.
Ethereum Classic (ETC)
While the crypto market has been up-and-down over the past weekend, Ethereum Classic (ETC) was one of the many cryptos that saw its price drop over this time. According to CoinMarketCap, ETC was trading hands at $20.27 after a 6.43% price decline throughout the past day of trading. The crypto’s weekly performance was, however, still up by more than 7%.
ETC’s price was able to break above the 9-day, 20-day and 50-day EMA lines over the past 2 weeks, and continued to trade above the 3 technical indicators at press time. Furthermore, significant medium-term technical flags triggered on the altcoin’s daily chart.
The 9-day EMA line had crossed bullishly above the 20-day EMA line, which suggested that ETC was in a short-term bullish cycle. Notably, however, the 20-day and 9-day EMA lines had crossed above the 50-day EMA line, which is a major bullish flag for the crypto’s price. If this bullish flag is validated, ETC could climb to as high as $$26.54 in the coming few weeks.
Litecoin (LTC)
Litecoin’s (LTC) great performance over the past seven days scored it a spot on CoinMarketCap’s (CMC) trending list. At press time, LTC’s weekly performance was up by over 23%. Unfortunately, the altcoin’s price saw a slight 0.76% decline over the past 24 hours. This left it trading at $110.36.
Similar to ETC, LTC’s price was also able to break above the 9,20 and 50 EMA lines over the past couple of weeks, and continued to trade above the 3 technical indicators at press time. As a result, LTC’s price was looking to challenge the key resistance level at $116.13 at press time.
If it successfully breaks above this barrier, it will have a clear path to rise to $143.99 over the course of the next 2 weeks. On the other hand, a rejection from the $116.43 mark may lead to LTC retracing to the $96.67.
Filecoin (FIL)
Filecoin’s (FIL) price was able to climb by just over 1% throughout the past day, which left the crypto trading at $4.02. This meant that FIL was trading much closer to its daily low of $3.98 than its 24 hour high of $4.23.
FIL’s price crossed above the 9 and 20 EMA lines on the daily chart over the past 48 hours. In addition to this, the two EMA lines crossed bullishly – signaling that FIL was in a short-term bullish cycle and its price would continue to rise in the next few days.
Investors and traders will want to keep an eye on the resistance level at around $4.3, which is also the same level as the 50-day EMA line. Should FIL’s price break above this level in the next 24-48 hours, it will have a clear path to rise to the next major resistance level at $5.150 in the following days.
Injective (INJ)
Injective (INJ) was another crypto that claimed a spot on CMC’s trending list after the crypto saw a more than 18% price increase over the past week. INJ’s price was also able to climb by 0.62% over the past 24 hours of trading. The crypto’s 24 hour trading volume also saw a 8.32% increase, which left it standing at around $73 million at press time.
INJ successfully broke above the resistance level at $8.250 over the past 24 hours and flipped the level into support. Technical indicators suggested that INJ’s price would continue to rise in the next week as the 9-day EMA line was positioned above the 20-day EMA line and the 20-day EMA line was positioned above the 50-day EMA line.
Should the buy support for INJ continue, it will look to challenge the minor resistance level at $9.294 before potentially making a move towards $9.915 in the coming week. On the other hand, a break below $8.250 will invalidate the bullish thesis and INJ will be at risk of dropping to $7.826.
Curve DAO (CRV)
Curve DAO Token (CRV) saw its price drop ever so slightly by 0.02% over the past day. As a result, CRV was worth about $0.7606. Despite its slight price loss, CRV’s weekly performance was still up by more than 3%. Meanwhile, CRV’s 24 hour trading volume dove by 46.96%, which left it standing at around $33 million.
CRV flipped the resistance level at $0.750 into support over the past 3 days. As a result, the altcoin’s price has a clear path to rise to the next major resistance level at $0.883 in the coming week. On the other hand, if its price drops below the $0.750 mark in the next 48 hours, the bullish thesis will be invalidated and CRV could fall to $0.710.
Synthetix (SNX)
Another crypto in the red heading into the new month was Synthetix (SNX). The crypto was trading at $2.26 after a slight 0.58% price drop over the past day. This pushed the crypto;s weekly performance even further into the red at -3.30%. Since reaching its all-time high (ATH) of $28.77 in February of 2021, SNX’s price has slipped by more than 92%.
SNX’s price was resting on the support at around $2.27 after it had overcome the level over the past 48 hours. A daily candle close today above this level may result in the altcoin climbing to $2.560 in the coming week. On the other hand, if SNX’s price closes today below the level then it will be at risk of falling to $2.079 in the next 48 hours.
Solana (SOL)
Solana (SOL) boasted a 3.57% price increase at press time. As a result, the Ethereum-killer was trading hands at $19.10 at press time. SOL’s 24 hour success also led to its weekly performance being firmly set in the green zone at +10.66%.
SOL’s price was also able to overcome a major resistance level in the past 48 hours, as the altcoin had flipped the level at $18.64 into support during this period. As a result, the altcoin may look to challenge the next major support level at $20.18 in the coming few days.
On the other hand, a daily close below $18.64 will put the altcoin at risk of retesting a crucial support level. In this scenario, SOL may drop to the key support level at $17.00.
Chainlink (LINK)
Chainlink (LINK) was another crypto that came out on top of the weekend’s trading with a more than 3% price increase over the past day. At press time, LINK was worth $6.41, which is much closer to its daily high of $6.51 than its daily low of $6.19. LINK’s price has slipped by more than 87% since reaching its ATH in May of 2021.
Lastly, LINK may look to rise to $6.810 in the coming week after it broke above $6.928 in the past 24 hours. However, before the crypto’s price can rise to $6.928, it will need to overcome the minor resistance level at $6.663 first.
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