Bitcoin price gathers strength as SOL, AVAX, FIL and EOS prep for a breakout

Nonfarm payrolls rose by 209,000 in June, below economists’ expectations of an addition of 240,000 jobs. Despite the cooling labor market, market observers remained concerned as the average hourly earnings growth held steady at 0.4% from May and 4.4% from a year ago. This did not alter expectations of a 25 basis point rate hike by the United States Federal Reserve in the next meeting, according to the FedWatch Tool. This kept the U.S. equities markets under pressure, with all three major indices falling for the week. The S&P 500 was down 1.16% and the Nasdaq was lower by 0.92%.


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markets also had a minor negative in the form of a report by JPMorgan managing director Nikolaos Panigirtzoglou, which said that a spot Bitcoin (BTC) exchange-traded fund (ETF) may not prove to be a game changer for the crypto space. Panigirtzoglou cites lackluster interest in the spot Bitcoin ETFs in Canada and Europe as the reason for a possible low impact even in the U.S.

Could bulls regroup and kick Bitcoin above the overhead resistance? If they do, select altcoins like

AVAX Crypto


Cronos Crypto


Cosmos Crypto


Helium Crypto


Shiba Inu Crypto

could join the march higher. Let’s analyze the charts of top-5 cryptocurrencies that are showing signs of moving up.

Bitcoin price analysis

The price of Bitcoin is currently stuck between the 20-day exponential moving average ($29,854) and the overhead resistance at $31,000, indicating that bulls and bears are uncertain about the future direction of the cryptocurrency. On July 7, the BTC/USDT pair bounced off the 20-day EMA, showing that the bulls are defending this level. Buyers will attempt to push the pair above $31,500, and if successful, the pair may surge towards $32,400 and then to $40,000.

However, the bears may try to protect the overhead resistance and push the price below the $29,500 support. If this happens, the stops of several short-term bulls may be triggered, causing the pair to drop to the 50-day simple moving average ($28,101).

On the 4-hour chart, the pair is trading between $29,500 and $31,500. It is difficult to predict the direction of the breakout, so it is better to wait for the price to escape the range before investing in cryptocurrencies like Avax, Cronos,, Algo, Cosmos, Helium, Shiba Inu, Crypto Live and ICP Crypto.

If the price breaks above the 50-SMA, the bulls will aim to drive the pair above $31,500. If they succeed, the pair may start a new up-move. Conversely, a tumble below $29,500 could start a correction towards $27,500.

Solana price analysis

Solana (SOL) has been trading in a wide range between $15.28 and $27.12 for the past few months. The bulls’ attempt to break above the support of the range triggered an up-move that has now surpassed the downtrend line.

The moving averages have formed a bullish crossover and the RSI is close to the overbought area, suggesting that the path of least resistance is to the upside. There is a minor resistance at $22, but if this level is breached, the SOL/USDT pair may climb to $24 and eventually to the formidable overhead resistance of $27.12.

On the downside, $18.70 is the key support to watch. A breakdown and close below this point could lead to a possible drop to the strong support zone between $16.18 and $15.28.

Both MAs are trending up and the RSI is in the positive zone on the 4-hour chart. This indicates that the bulls are in control. However, the bears have not yet given up and have pushed the price back to the 20-EMA.

If the price bounces off the 20-EMA with strength, the bulls will make one more attempt to break the obstacle at $22. If they succeed, the pair may surge towards $24.

The first sign of weakness will be a decline below the 20-EMA. That will show that the short-term bulls are taking profits. The pair may then slide to the 50-SMA.

Avalanche price analysis

After struggling near the 50-day SMA ($12.99) for several days, Avalanche (AVAX) finally managed to break through on July 8.

The moving averages are close to forming a bullish crossover and the RSI has entered the positive zone. This suggests that bulls have the upper hand. The AVAX/USDT pair could rise to $16, where bears may attempt to defend the level.

If subsequent corrections find support at the 20-day EMA ($13), it could signal the start of an uptrend towards $18. The important support level to watch out for on the downside is $12. A break below this level could push the price to the key support at $10.52.

The 4-hour chart shows that the price has risen above the symmetrical triangle pattern, indicating that bulls are attempting to take control. The up-move may face selling pressure near the strong overhead resistance of $15 but bulls are likely to buy the dips to the 20-EMA. If this support holds, the chances of a rally above $15 increases.

If bears want to prevent further upside, they will have to quickly push the price below the moving averages. This may trap the aggressive bulls, leading to long liquidation. The pair may then drop to the support line of the triangle.

Filecoin price analysis

Filecoin (FIL) is attempting to form an inverse head and shoulders pattern that could be completed if the price breaks and closes above the neckline near $5.

The moving averages are close to generating a bullish crossover and the RSI is in the positive territory, which indicates that bulls have a slight advantage. The bulls are attempting to push the price to the neckline of the reversal pattern. If they manage to do so, the FIL/USDT pair may begin a new uptrend with a pattern target of $7.30.

This optimistic outlook could be invalidated in the short term if the price drops below the moving averages. This could cause the pair to plunge to $3.5 and subsequently to $3.

The 4-hour chart shows that the pair is in a corrective phase, but the buyers are trying to push the price above the moving averages. If they succeed, it could signal that the correction is over, and the pair may gradually climb toward the overhead resistance near $5.

Alternatively, if the price turns down from the moving averages and falls below $4.20, it could suggest that the short-term sentiment remains negative and traders are selling on rallies. This could pull the price to $4 and then to $3.60.

EOS price analysis

EOS (EOS) has been forming a higher high and higher low pattern, suggesting a potential trend change in the near term. The 20-day EMA ($0.73) has flattened out and the RSI is near the midpoint, indicating that the selling pressure is reducing. today buyers will have to propel the price above the overhead resistance at $0.79 to indicate that the downtrend may be ending. The EOS/USDT pair could then surge toward $0.93.

Alternatively, if the price turns down from the overhead resistance, it will suggest that bears remain active at higher levels. That could keep the pair range-bound between $0.60 and $0.79 for some more time.

The 4-hour chart shows that the pair has been gradually moving up. If buyers kick the price above the 50-SMA, the pair may retest the overhead resistance at $0.79. If bulls overcome this barrier, the pair could soar to $0.83 and eventually to $0.90.

Contrary to this assumption, if the price turns down and breaks below the uptrend line, it will suggest that the bears are back in the driver’s seat. The pair may then slump to $0.67 and later to $0.64.

The complete web developer course 3.0, Avax crypto, Cronos crypto, Algo crypto, Cosmos crypto, Helium crypto, Crypto ”Shiba Inu and ICP crypto are some of the popular cryptocurrencies that are actively traded. As such, traders should keep an eye on these assets to gauge the direction of the EOS/USDT pair.

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