Bitcoin price loses ground as TON, PEPE, KAS and JASMY attract traders’ attention.

Bitcoin (BTC) extended its decline of more than 3% this week as bears maintained their selling pressure. Although the price fell below the short-term Owner's Guaranteed Price (STH-RP) of $64,230, the bears failed to extend the correction. This indicates that the bulls are trying to protect STH-RP, the basis of the total cost of Bitcoin owners – wallets that store Bitcoin for 155 days or less.

According to Farside Investors, Bitcoin's weakness has led to a continuous outflow of funds traded on Bitcoin exchanges since June 13.

Independent analyst Willie Wu said in an article on X that Bitcoin's recovery will begin after “the weak miners die” and the hashrate recovers. In the year In 2020, the patient recovered within 8 days. In 2017, the recovery took 24 days. Wu added that mining is taking longer this year after the second half, possibly due to “profit-enhancing casual articles.”

If Bitcoin starts trading above $64,602, it could attract buying in select altcoins. Let's study the top 5 currencies that look strong on the charts.

Bitcoin price analysis

Bitcoin broke below the $64,602 support on June 21, but the bears were unable to build on their gains. This indicates that selling will dry up at low levels.

The bulls should drive the price above the moving averages to trap aggressive bears. If they do, the BTC/USDT pair could rally to $70,000 and then to $72,000. The bears are expected to mount a strong resistance in the zone between $72,000 and $73,777.

Conversely, if the price falls below the current level or the moving average price, it indicates that the sentiment is negative and traders are selling in rallies. That adds up to about $60,000 for a deeper correction.

The 4-hour chart shows that the bulls are trying to recover, facing a sell at the 20-EMA. If the price continues lower, the bears will try to bring the pair below $63,379 and continue the downward movement. If they do, the pair could drop to $60,000.

However, a positive divergence on the Relative Strength Index (RSI) suggests that the selling pressure may decrease. The bulls find strength at the break and close above the 50-easy moving average. The pair can go up to $67,000 and then to $70,000.

Token price analysis

The bulls did not allow Toncoin (Ton) to slip below the 50-day SMA ($6.83), indicating strong buying at lower levels.

The bulls are trying to increase the price resistance above $7.67. If they can pull through, the TON/USDT pair could rally to $8.29. This level can serve as strong resistance, but if the bulls win, the pair could begin its journey to $10.

Contrary to this assumption, if the price declines from the current level and breaks below $6.60, it will complete the head and shoulders pattern. That could start a downward move towards the $4.91 pattern target.

The bears repeatedly pulled the price below the high line but failed to start a downward trend. This indicates that bulls will buy aggressively at lower levels. The $7.67 to $8.29 zone may witness strong selling by the bears, but if the bulls prevail, the pair may move towards $10.

The first support to watch on the downside is the 20-EMA. If this level gives way, it indicates that the pair may fluctuate between $6.60 and $7.67 for some time. The bears gain the upper hand at the break and close below $6.77.

Pepe price analysis

Pepe (PEPE) has been correcting for the past few days, but the breakout from $0.000010 shows that the bulls are trying to pull back.

Buyers need to push the price above the lower line and moving averages to signal the start of a sustained recovery. The PEPE/USDT pair may rise to $0.000014 and then to $0.000016.

On the contrary, if the price drops from the lower line or the moving average, it indicates that the bears will continue to sell in rallies. A break below $0.000010 could open the doors to a fall to $0.000008.

The 20-EMA is laid out on the 4-hour chart, and the RSI is below the midpoint, which indicates the balance between supply and demand. If buyers drive the price above the lower line, the pair can reach $0.000014. This level could act as a minor hurdle, but if cleared, the pair could extend the rally to $0.000016.

If the reversal line breaks, the advantage is tilted to the bears. That could pull the price to a strong support zone between $0.000009 and $0.000010.

Related: Bitcoin Prepping Breakout With ‘$90K+' BTC Price Target – New Analysis

Caspa cost analysis

Caspa (KAS) rose above the 50-day SMA ($0.14) on June 18, indicating buy lows. The bulls continued their buying and pushed the price above the 20-day EMA ($0.15) on June 23.

If buyers maintain momentum and drive the price above the lower line, it suggests that the correction may be completed. The KAS/USDT pair may attempt a strong upside rally at $0.19.

An important support to watch on the downside is the 50-day SMA. A break and close below this level would signal the start of a sharp correction to $0.10. The bulls try to hold the decline at $0.10.

The moving averages on the 4-hour chart are on the verge of a crossover, and the RSI is in positive territory, indicating that the bulls are trying to make a comeback. A break and close above $0.16 clears the way for the rally to $0.18.

On the other hand, if the price is below the moving average, the bears will again try to sink the pair below $0.14. If this level holds, the pair could consolidate between $0.14 and $0.16 for some time. If the $0.14 level is breached, the pair may fall to $0.13.

JasmyCoin price analysis

JasmyCoin (JASMY) retook the 50-day SMA ($0.03) on June 21, indicating that lower levels are attracting buyers.

The 20-day EMA ($0.03) is flat, and the RSI is near the midpoint, indicating that selling pressure is easing. If buyers overcome the resistance at the 20-day EMA, the JASMY/USDT pair could rally to $0.04.

Alternatively, if the price breaks below the 20-day EMA, it indicates that the bears have not given up and will continue to sell in a rally. The pair may spend some time oscillating between moving averages. A break and close below the 50-day SMA could initiate a deep decline to $0.02.

The 4-hour chart shows that the bulls are trying to start a rally, which is facing resistance in the zone between the 50-SMA and the lower line. A critical support to watch on the downside is the 20-EMA. If the price recovers from the 20-EMA, it will improve the break above the lower line. If that happens, the pair could rise to $0.04.

Contrary to this assumption, a fall below the 20-EMA suggests that the bears are maintaining their pressure. The sale may strengthen on a break below the channel. The pair may drop to $0.02.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.