Bitcoin is back on track, after a relatively slow couple of months, from April until mid-June.
Over the last two months, the cryptocurrency took a hit from the bears and plunged from $31,000 to around $25,500.
As it now appears, Bitcoin and the rest of the crypto market are on their way to recovery. And now more than ever, Bitcoin is showing real signs of a $35,000 rally.
If you didn't know, a few hours after Bitcoin scaled the $30,000 mark, the global crypto market got hit by massive short liquidations, of more than $260 million in the first 24 hours alone.
From this, it is clear that Bitcoin is doing well.
But how about the rest of the crypto market? What should you expect this week, from the altcoin market?
We have gone through the top altcoins available on the market, and have picked out five of the cryptocurrencies with the most interesting price actions.
And over the next few sections, we will discuss what is going on with these altcoins, and exactly what you should expect as an investor, trader or simple enthusiast.
Without further Ado, our first crypto is:
Despite the ongoing battle between Ripple Labs (issuers of XRP) and the US Securities and Exchange Commission, XRP has shown remarkable resistance to the market's turbulence.
This cryptocurrency has also maintained relatively strong price action and has even shown bullish strength, even when the market is completely red, on several occasions.
XRP is first on the list because analysts still believe strongly in it.
The first of whom is the crypto analyst on Twitter, Crypto Michael. Crypto Michael, in early June, predicted in a tweet that XRP was approaching a major resistance around $0.56, which has held on for an entire year.
He went further to say that if XRP "successfully clears this level", the price action of the cryptocurrency would result in a "parabolic pump".
However, sometime on 14 June, a false breakout showed up, and XRP declined further down to $0.45.
In another tweet, Crypto Michael mentioned that while this is an extremely strong resistance (that has held on for a whole year), it is not unbreakable.
According to the analyst, if XRP breaks clean above this resistance line, the said parabolic move is bound to occur.
How high up XRP can go after a breakout remains to be seen. However, XRP is a perfect candidate for our watchlist.
Because if the cryptocurrency breaks through this zone, the next stop would be a 62% rally to $0.77 at least.
Elon Musk's favourite cryptocurrency also deserves a spot on the high table.
This week, Dogecoin, along with the rest of the crypto market also became bullish with a 6.5% price rise over the weekly timeframe.
Before this, Dogecoin was strongly bearish and was even on a descending trendline.
However, after hitting the $0.054 zone, the general bullish rally brought an end to the negative trend and provided much-needed relief to the bulls.
Dogecoin has now entered a rebound and has successfully cleared the $0.066 resistance.
At the moment, Dogecoin is in a retest of this zone and could have a real chance of rallying further upwards to the next resistance around $0.079.
Aave has had a really busy week, and some of the signs are good indeed.
This week, within 30 minutes, two addresses suspected to be from the same individual or business withdrew 108,961 AAVE tokens, equal to about $8.22 million, from Binance.
This large-scale withdrawal might have several consequences for AAVE tokens. For example, it may mean that the individual or entity behind these withdrawals has high hopes for the token's long-term potential.
This is without mentioning that AAVE was one of the top gainers, during the last crypto market rally.
The cryptocurrency cleared the $65 resistance in a 28% move to the upside. It hit the $76 resistance and has since reversed for a retest of the $65 zone.
The question now, is "Will AAVE rebound?"
This week, it may be worthwhile to keep an eye out for AAVE, in case a rebound from $65 happens, and the cryptocurrency makes another attempt for $75, $85 or beyond.
The NEAR protocol has also been up to some pretty big things, over the last few weeks, in terms of fundamentals.
The NEAR Foundation, a non-profit organization responsible for the NEAR protocol's development, has teamed with Alibaba Cloud to accelerate Web3 adoption in Asia and the Middle East.
As expected, $NEAR reacted positively to the crypto market's bullish momentum.
NEAR was heavily bearish, to begin with, and was facing fresh lows at $1.15. However, the cryptocurrency has risen 42% over the last two weeks and is facing a possible breakout from the $1.55 zone.
If this is the week that NEAR breaks through this resistance, then we might be looking at a potential 42% rally to $2.2.
It is safe to say that Monero was one of the market leaders in the last crypto explosion.
The cryptocurrency registered gain of a 26.7% in less than 10 days, and now appears to have reclaimed its place above the ascending trendline it lost its footing on, sometime at the start of June.
Monero is now facing resistance somewhere around the $163 zone.
However, the cryptocurrency is worth watching out for, because if a breakout from this point occurs, we could see Monero rally straight upwards by 15%, to the $186 zone.
It might be a good idea to wait for a confirmation signal though, because Monero is currently overbought (74%) and may need some time to recover and cool off.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.