Price analysis 7/6: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, LTC – BTC Ethereum Crypto Currency Blog

Altcoins continue to move higher as Bitcoin trades in a predictable range but it’s still too early to know if the market is flashing any strong buy signals.

The weekend rally in cryptocurrencies was led by Bitcoin (BTC) but this move was not supported by huge trading volumes. According to on-chain analysts at CryptoQuant, the low trading volume suggests that “whales are staying low without much action.”

However, Bitcoin has successfully held the $30,000 support for two weeks, which suggests that accumulation is taking place at lower levels. The Crypto Fear and Greed Index rose to 29 on July 5, its highest level in about three weeks. This suggests that aggressive investors may have started bottom fishing.

Daily cryptocurrency market performance. Source: Coin360

If bulls successfully hold the $30,000 level in Bitcoin for a few more days, trading interest is likely to increase further. Institutional investors usually do not buy in a falling market and wait until prices stabilize. Once that happens, the volume is likely to pick up and a stronger recovery may be expected.

However, if support levels crack, the sentiment will sour further and institutions may prefer to remain on the sidelines until a bottom is confirmed. Let’s analyze the charts of the top-10 cryptocurrencies and spot the critical support levels on the downside.