Resistance levels under the microscope this week as the cryptocurrency majors stumbled at established barriers. Bitcoin price retracted from crucial $35,500 level, Ethereum price stalled at the 50% Fibonacci retracement level at $2,237 and XRP price strength was paralyzed by the 200-day simple moving average (SMA) at $0.733. The constructive technical developments of last week have not released the momentum to confidently bust through higher resistance levels, putting attempts to disentangle from the recent churn on hold.
VeChain price stuck in tight range, VET will go sideways for the rest of the summer
VeChain price has not been able to go higher after the recovery from $0.04 towards $0.16. VET corrected further down and is looking for support from buyers. The area around $0.1 is forming a heavy cap on the possible further upside for Vechain. VeChain price looks to be in a difficult spot with upside potential very limited, but even for sellers, it doesn’t look appealing to go short VET.
Shiba Inu Price Prediction: SHIB investors need their eyes on the prize as 30% rally awaits
Shiba Inu price activated the inverse head-and-shoulders pattern on June 28. Nonetheless, the breakout was short-lived, and SHIB has fallen into a consolidation, releasing the overbought conditions on the lower timeframes. If the rookie cryptocurrency can sustain a rally above the declining 50-day SMA, it could rally 33% before striking meaningful resistance.