The cryptocurrency market is experiencing mixed signals as Bitcoin remains steady around $118,000, while many altcoins face significant downturns.
BNB's Struggles
BNB has recently set a new record at $810 after overcoming the $770 resistance level. However, should Ethereum weaken further, BNB may face losses and revisit the $745 level. Increased selling pressure might drive its price down to between $722 and $686.
AVAX's Challenges
This year has been tough for AVAX as it struggles to surpass $27, lagging behind its previous highs. The coin is currently eyeing the $22.5-22 range, and if it continues to fall, it may reach $19.7. Issues stem from DOJ-related news tied to Trump's presence in Epstein files, potentially harming crypto sentiment.
The Situation with Solana and Dogecoin
After surpassing the $203 resistance, Solana has not managed to turn it into stable support, largely due to Ethereum's instability. If Solana fails to hold its current critical support at $189, potential declines to $177 and $165 may occur. Similarly, Dogecoin, which weakened by 8% to $0.243, needs to break above $0.4 for recovery, but any failure could lead to drops to $0.18 and $0.145 by early August.
Uncertainties persist in cryptocurrency markets. While Bitcoin stabilizes, altcoins are battling against a wave of unfavorable conditions. Observers continue to monitor performance, hoping for rallies that might shift the current trajectory.
