Welcome to our latest crypto market outlook for June 24th!
The crypto market has been going crazy since yesterday after Trump announced that Israel and Iran have agreed to a ceasefire. Here are 5 interesting altcoins in my shopping cart this week: ARB, HBAR, MKR, SUSHI, and ZRO.
Today, we will cover the following topics:
– BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
BTC analysis
After rejecting the $100,000 level, BTC surged by over 5% within a couple of hours, shifting the entire short-term momentum back to bullish.
As long as $100,000 holds, the bulls will have the upper hand—especially if the upper red trendline is broken to the upside.
As mentioned in our last roundup article, the bulls will take over on BTC if the last high marked in blue at $103,000 is broken to the upside.
As long as BTC trades above the $100,000–$103,000 support zone, we will be looking for trend-following longs on every bearish correction.
5 Altcoins Analysis
As per our last ARB analysis, it rejected the $0.25 support level perfectly and has been trading higher since.
As long as $0.25 holds, the bulls are expected to remain in control and push ARB toward the upper bound of the blue falling channel.
After breaking above the last minor high in orange at $0.238, the bulls took over the short-term momentum yesterday.
Currently, ARB is approaching the $0.30 round number. If broken to the upside, further movement toward $0.38 would be expected.
HBAR has finally rejected the demand zone and the $0.15 round number.
As long as the demand zone holds, the only direction from here is up.
For the bulls to fully shift the momentum in their favor, HBAR needs to break above the upper red trendline and the last major high marked in red at $0.1635.
MKR has been one of the best performers this month, holding strong around the $2,000 round number while many altcoins were making lower lows.
If $2,000 is broken back to the upside on the daily timeframe, a new bullish wave toward $3,000 could begin.
Meanwhile, as it retests the lower bound of the rising orange channel, we’ll be looking for short-term trend-following longs.
History is repeating itself on SUSHI. The last time it rejected the $0.50 round number, it surged all the way up to the $0.90 mark.
This time is no different. As long as the $0.50 level holds as support, we expect a bullish correction toward the $0.75 resistance level as the first target.
As per our last market outlook, ZRO rejected the lower bound of the support at $1.50.
As long as the $1.50 level holds, we expect a strong bullish wave toward the $3 resistance level.
ZRO has been bearish in the medium term, trading within the falling channel marked in orange.
For the momentum to fully shift to bullish, a break above the last major high in orange at $1.95 is needed.
Quotes / Advices
Trading is very competitive and you have to be able to handle getting your butt kicked.
~ Paul Tudor Jones
Closing Remarks
In summary, Following Trump’s announcement of a ceasefire between Israel and Iran, the crypto market witnessed a sharp surge in momentum, with BTC bouncing over 5% after rejecting the $100,000 support level.
As long as BTC holds above the $100,000–$103,000 range, the bias remains bullish.
Meanwhile, five altcoins caught our attention this week:
ARB bounced from $0.25 and is aiming for $0.30 and potentially $0.38.
HBAR is holding the $0.15 demand zone and may push higher if $0.1635 is broken.
MKR continues to outperform, maintaining strength at $2,000 and eyeing a move to $3,000.
SUSHI is showing signs of repeating a historical bounce from $0.50, targeting $0.75 next.
ZRO is stabilizing above $1.50 support and could head toward $3 if it breaks $1.95.
The overall outlook favors bullish momentum across key altcoins, provided critical support levels continue to hold.
