- Investors are preparing for significant volatility in the cryptocurrency market next week, driven by crucial developments.
- Recent reports suggest that key changes are on the horizon, particularly influenced by upcoming inflation data on Thursday.
- If the inflation numbers are lower than expected, this could prompt the Federal Reserve to consider rate cuts, whereas disappointing data could dampen the optimism generated by recent employment figures.
Explore the likely fluctuations in the cryptocurrency market for the coming week and prepare for notable developments with our expert analysis.
Expectations for Toncoin (TON)
Toncoin (TON) has experienced pressure since it peaked at $8.17 on July 3rd. The cryptocurrency faced strong market resistance, exacerbated by a bearish sentiment among investors. Despite dropping to $6.77, the downward momentum was arrested, and a close above $7.09 might see it retest higher resistance levels. However, if TON falls below $6.77, it could aim for $5.25, indicating a potential double top formation.
Performance Predictions for ADA Coin
The value of ADA Coin has been under duress after breaching the $0.35 support level. Should the selling pressure persist, ADA could target $0.25 upon dropping below $0.30, potentially stabilizing after an intense selling phase. For a short-term rebound, ADA must reclaim the $0.35 mark and surpass the EMA20 benchmark of $0.39.
Avalanche (AVAX) Price Movement
On July 5th, Avalanche (AVAX) dipped below $23.5, attracting buyers at these lower levels. A recovery could push prices toward $29, particularly if the price moves above the EMA20 level of $27.7. Nevertheless, if BTC continues its decline, AVAX might follow suit, potentially dropping to $19 after reaching $21.8.
Future Trajectory of SHIBA Coin
Shiba Inu’s value fell under the $0.000016 support on July 4th, breaking free from a narrow trading band. Although it briefly lost the $0.000014 support on Friday, it managed to recover. If this support level fails again, the price could tumble to $0.00001. Conversely, reclaiming the EMA20 level of $0.000017 seems plausible, especially if BTC shows signs of recovery.
Conclusion
As the cryptocurrency market approaches a week of potential volatility, investors should remain vigilant and informed. Monitoring key metrics like Thursday’s inflation data will be crucial. For example, watch for TON Coin’s closure above $7.09 to assess resistance levels, ADA Coin’s recovery in reclaiming $0.35 and EMA20 at $0.39, AVAX surpassing the EMA20 level of $27.7, and SHIBA Coin holding its $0.000014 support. These insights could be vital for navigating the anticipated market shifts.
