Trump Boosts Crypto Market
Release: 2024/07/17 00:11 Reading: 455
Trump Boosts Crypto Market
Bitcoin (BTC) has consistently traded above $60,000, supporting altcoins in their recovery from oversold positions. This upward trend is likely to continue due to upcoming elections and former President Donald Trump's upcoming speeches. Moreover, Trump's selection of a crypto-friendly Senator as his Vice President may positively impact the market.
Shiba Coin (SHIB) Price Increase
SHIB has witnessed a 6% price increase, partially attributed to Trump's positive stance on cryptocurrencies. Next week is expected to be eventful with the launch of the ETH ETF and MTGOX beginning refunds. These developments could stimulate buyer interest, leading to a strong final quarter for SHIB.
Technically, SHIB is recovering from a dip below $0.0000128 and faces resistance at $0.0000209. A breakout above $0.0000185 could set the stage for further gains towards $0.0000262 and $0.0000294.
PEPE Coin's Potential for a New ATH
PEPE Coin requires continued closures above $0.0000111 to establish a trajectory towards a new all-time high. At $0.0000119, it is well-positioned to rally further if Bitcoin remains stable. $0.0000134, $0.00001576, and $0.0000172 are potential targets. The excitement surrounding the November elections presents an opportunity for quick profits for new investors.
Chiliz (CHZ) Coin's Outlook
CHZ has recovered to $0.07, finding support at the middle line of its parallel channel. It is tracking its expected path, and if BTC avoids major setbacks, a new peak in the range of $0.0848 to $0.0951 could be achievable by weekend.
Key Takeaways for Investors
- SHIB has a near-term target of $0.0000209.
- PEPE Coin is poised for a new ATH with continued strength above $0.0000111.
- CHZ may reach peaks between $0.0848 and $0.0951 if BTC remains stable.
Overall, the market sentiment remains optimistic, driven by upcoming events and political endorsements. Investors should monitor these key levels and potential market movements closely.
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