Significant price movements are projected for the upcoming week in the cryptocurrency market with crucial developments on the horizon. Recent announcements have set the stage for potential market fluctuations in the days ahead. The outcome of Thursday's inflation report could have a profound impact, potentially leading the Federal Reserve to consider multiple rate cuts in the coming months. Conversely, if the data defies expectations, the positive sentiment stemming from recent employment figures might diminish.
TON Coin Performance
TON Coin (TON) witnessed a decline starting from $8.17 on July 3rd amidst a challenging resistance level and a prevailing negative market sentiment. Despite the drop below $6.77, the bears struggled to drive TON Coin to lower depths. The coin might aim to challenge the resistance level once more by closing above $7.09.
In a bearish scenario, TON Coin could face levels of $6.36 and $5.25, with closures below $6.77 indicating a potential descent to $5.25 supported by a double top formation.
ADA Coin Analysis
The ADA Coin price saw a decline after losing the $0.35 support, potentially targeting a range below $0.30 with continued selling pressure. A probable reversal would entail reclaiming $0.35 alongside the EMA20 level at $0.39 for short-term recovery.
Avalanche (AVAX) Insights
Despite a temporary drop below $23.5 on July 5th, AVAX witnessed buyers stepping in at lower levels, hinting at a prospective recovery towards $29, following the EMA20 level at $27.7. A break above $56,600 in BTC price could trigger interest from early investors.
However, if BTC's decline persists with on-chain activities, AVAX might plummet to $19, targeting $21.8 thereafter.
SHIBA Coin Outlook
Shiba Inu faced a setback as it breached the $0.000016 support on July 4th, leading to a bearish breakout from a tight range. Although the $0.000014 level was compromised momentarily, it was later reclaimed. Further breach of this support could result in a drop to $0.00001. Conversely, a potential recovery would involve regaining the EMA20 level at $0.000017, especially with BTC showing signs of recovery.
The crypto market awaits significant movements next week, driven by evolving market dynamics and key economic indicators.
