Bitcoin inches toward resistance as bulls test the waters

Key market insights

• Breakouts, rotations and a market warming up: Crypto markets wrapped up the week with momentum on their side.
• Bitcoin inches toward resistance as bulls test the waters: Printing a bullish candle with a tight upper wick, indicating buyer strength into the close.
• Ethereum gains ground and hints at altcoin rotation: Outpacing Bitcoin last week, gaining 12.23% and closing at US$2,500.
• XRP benefits from legal clarity and renewed ETF speculation: Surged 9.36%, to close the week at US$2.20 after Ripple officially dropped its cross-appeal against the SEC.
• Solana leads the majors as breakout momentum builds: Climbing 16.41% to close the week at US$153.32, testing key resistance at US$158. 

The weekly trading stats as of Monday, June 30that 10:00 am AEST, based on data from TradingView in USD.

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Breakouts, rotations and a market warming up

Crypto markets wrapped up the week with momentum on their side. Traders leaned risk-on, and the charts backed them up, majors closed strong, resistance levels were tested, and altcoins showed signs of life. It wasn’t just optimism, it was follow-through.

Bitcoin inches toward resistance as bulls test the waters

Bitcoin closed the week at US$108,356.93 up 7.32%. It printed a bullish candle with a tight upper wick, indicating buyer strength into the close and minimal profit-taking at the highs. That kind of structure is typically what traders look for in a continuation of trend.

Immediate resistance remains at US$109,300. A confirmed breakout above that level could trigger a move toward US$112,500. If BTC struggles to break above that ceiling, expect pullbacks to the US$105,000 and US$102,700 levels, both structurally important zones to watch this week.

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Ethereum gains ground and hints at altcoin rotation

Ethereum outpaced Bitcoin last week, gaining 12.23% and closing at US$2,500. Technically, ETH is looking strong with support sitting at US$2,380, then US$2,250. A close above US$2,550 would set up a push toward US$2,670 and potentially reignite the broader altcoin rally.

More importantly for market watchers: the ETH/BTC pair is ticking higher. This suggests capital rotation from Bitcoin into Ethereum and the altcoin complex, a key signal for traders keeping an eye on sector strength.

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XRP benefits from legal clarity and renewed ETF speculation

XRP surged 9.36%, closing at US$2.20 after Ripple officially dropped its cross-appeal against the SEC. The resolution, while technical in nature, effectively puts a long-standing legal overhang to rest. Traders welcomed the news, as did speculators eyeing a future XRP ETF.

Support now sits at US$2.15, and the next key resistance levels are US$2.25 and US$2.40. Price is pressing into the top end of its recent range, so traders should watch for breakout attempts, or a sharp rejection, which could turn into a fade opportunity.

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Solana leads the majors as breakout momentum builds

Solana was a standout performer, climbing 16.41% to close the week at US$153.32. It’s now testing key resistance at US$158. If price can break and hold above that level, the next target is US$174. Support sits at US$148, with more structural demand around US$136. Volume came in heavy on the move, supporting the idea that Solana isn’t just along for the ride, it’s leading it.

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Key levels to watch in the week ahead

For Bitcoin, the level to watch remains US$109,300. A confirmed break above that line could set the stage for trend continuation. If price is rejected there, a return to the mid-range around US$105,000 is likely.

Ethereum’s strength is keeping altcoin momentum alive. A close above US$2,550 could invite another wave of capital rotation into higher-beta names. XRP has legal clarity on its side, and Solana is knocking on the door of a breakout.

The bottom line for traders

Risk appetite is returning, but structure comes first. Experienced traders like to wait for confirmation before chasing momentum. Price above key levels, supported by rising volume and stable funding, is where the conviction trades live.

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