ETHEREUM (ETH)
ETH price: $1,840 USD
Market cap: $221.16 billion USD
Rank: #2
Ethereum is the largest altcoin based on market capitalization. The ETH conference in Barcelona will be held from July 5th to July 7th. Following that, a hackathon will take place from July 7th to July 9th. The event is regarded as one of the largest conferences in Europe and aims to explore how blockchain technology can build a sustainable and promising world.
The price of Ethereum has experienced a week of price increase since it surged on June 15th and broke out of the descending resistance line on June 21st. This indicates that the previous correction has been completed, and a new upward movement has begun.
If the prediction is correct, the price of ETH is expected to break out of the $2,000 resistance level and move towards $2,500.
However, if the price of ETH experiences a short-term decline, altcoins may revisit the descending resistance line and confirm it as support. At the time of writing, ETH is trading at $1,750 USD.
Internet Computer(ICP)
ICP price: $4.08 USD
Market cap: $1.782 billion USD
Rank: #30
ICP will hold a global R&D meeting on June 28th. They will discuss various feature updates, test SNS, and also conduct a live demo for attendees.
Although the price of ICP experienced a new yearly low on June 10th, the altcoin has since seen a strong recovery, forming a long lower shadow candlestick in the process.
Buyers have taken control and caused the price to confirm the horizontal area around $3.50 USD as support.
If the upward momentum continues, the price of ICP may reach the long-term resistance level at $5.20 USD. However, in the event of a short-term price reversal, a potential decline to the nearest support level around $3.50 USD could occur.
RADIX (XRD)
XRD price: $0.062 USD
Market cap: $639 million USD
Rank: #210
The Radix Babylon upgrade is set to launch on July 31st. Although delayed by a month, the upgrade is expected to significantly improve user experience and developer experience. The RCnet test network will be released a few weeks prior to the upgrade.
It could be due to the anticipation of this upgrade that the price of XRD has experienced a significant increase since June 15th, resulting in a 43% gain. This increase has led to a breakout from the descending resistance line.
XRD failed to reach the resistance level at $0.094 USD. Instead, it was rejected before reaching the resistance and experienced a sharp decline to the previous breakout support level at $0.056 USD.
If XRD continues to move downwards, a decline to $0.035 USD could occur. However, if XRD bounces back, the altcoin could rise towards the resistance level at $0.093 USD.
OSMOSIS (OSMO)
OSMO price: $0.49 USD
Market cap: $240 million USD
Rank: #114
Osmocon 2023 will be held on July 21st in France. Osmocon is a forum for discussing the topic of cross-chain connectivity. It is a positive event taking place at an opportune time for OSMO. This comes after OSMO previously reached its all-time low (ATL) price of $0.44 USD on June 10th.
As OSMO started a short-term reversal on the same day, it can be speculated that the forum could potentially push the price towards the long-term descending resistance line at $0.6 USD.
However, a decline to $0.32 USD could occur if OSMO loses the ATL level. This would represent a new all-time low price.
SYSCOIN (SYS)
SYS price: $0.13 USD
Market cap: $94 million USD
Rank: #191
Syscoin will release its public Rollux mainnet on June 28th. Rollux is a composite EVM that inherits the security of the Bitcoin mining network and combines it with the data availability of Syscoin. The mainnet will operate as a layer 2 for Syscoin, enhancing its scalability capabilities.
SYS has experienced a significant increase in price since June 10th. Currently, SYS has reached the descending resistance line of 138 days. Although the altcoin was rejected in its initial breakout attempt, SYS may soon establish a new price level.
If SYS experiences a breakout, the altcoin could reach the resistance zone at $0.19 USD. However, a decline to $0.11 USD could occur if SYS faces rejection once again.
see more : The top 3 altcoins being closely watched by whales in July