GT-Protocol Blog Friday opens at support, will it hold?

Friday opens at support, will it hold?

07.07.2023

Dear traders,

The crypto market dropped to the support channel and now needs to hold above it, or the next low is in play.

Jake
TOP Trader

BTC continues to drop to support at $29,800 and is losing momentum now. It is still in slow consolidation before the next big move. Significant liquidity can be found around $27,000 to $26,000, which the market may target.

ETH hit support at $1,830 and made a small bounce up but is still showing weakness for a bigger push up. It is still in danger before the next leg down.

XRP touched support at $0.46 and now needs to break above it to continue the push. To break above and continue the upward momentum, a substantial increase in volume is required.

LINK hit strong support at $6 and needs to hold above it for a bigger push up and bullish continuation. Nevertheless, it presents a good opportunity for spot buying and holding.

SOL is hitting strongly at $20 resistance and trying to break above for a bigger push up. However, it still remains a favorable option for long-term investment.

EOS has encountered strong resistance as predicted and continues to decline towards $0.7, a major support level. Despite this, it remains a viable option for long-term spot buying.

LTC is slow in its push and dropped strongly to $95. The next support target is $90, and it needs to hold it. Additionally, in 30 days, LTC will undergo a halving event, which is expected to result in a notable price increase due to a reduction in mining supply. This presents an excellent long-term investment opportunity!

DXY is at a big support level at 103 and needs to hold it for a bigger push up.

Crypto/stock daily news:

BLACKROCK CEO: “BITCOIN IS DIGITIZED GOLD”

Check it out.

Larry Fink (CEO of BlackRock) did an interview on Fox Business yesterday.

Here’s what the man running a multi-trillion dollar empire (~$9T AUM) had to say about Bitcoin:

It could revolutionize finance

It’s “digitizing gold”

It’s an alternative hedge against inflation or devaluation of fiat currencies

It’s an international asset

Crazy, I know. Larry Fink is like the Darth Vader of Crypto – evil for years but then finds the Light Side.

Better late than never. (And that’s one less person on my list…)

FAST NEWS:

The total value locked on Solana’s liquid staking protocols is up 91% since the start of 2023. Solana over here reaping the benefits of Ethereum’s Shapella upgrade.

Crypto trading volume across all centralized exchanges rose in June (+14%) for the first time in 3 months Everyone’s pumped about Bitcoin ETF mania…

3AC cofounder Kyle Davies said some of the earnings from his and Su Zhu’s new crypto exchange will be donated to creditors for good “karma.” They have to be early supporters of the exchange though… ?

Binance suspended several altcoins tied to the bridge platform Multichain after a May incident stopped processing transactions. This is what happens when a CEO peaces out without a word.