If Bitcoin clears $68,000, ETH, TONE, UNI and XMR may rally.

This week, Bitcoin (BTC) is down more than 4%, which indicates that the bears are active near $70,000. However, Bitcoin investors seem to be seeing the dips as a buying opportunity. According to market data firm Sentiment in a post on X, Bitcoin's decline to $66,600 showed an increase in buying amid selling interest.

While Bitcoin is trying to find a short-term bottom, Ether (ETH) is trying to regain its recent decline below $3,400 on June 14. Strong demand at low levels may be due to the anticipated launch of the spot ether exchange-traded funds (ETFs). Bloomberg ETF analyst Eric Balchunas expects the Ether ETF to start trading as soon as July 2.

Bitcoin's recent weakness has increased selling pressure in many altcoins, which have fallen near or below their recent support levels. However, if Bitcoin is able to make a comeback, select altcoins are likely to witness strong buying at lower levels.

Could Bitcoin's Relief Rally Boost Crypto Markets? Let's take a look at the five major currencies that look strong on the charts.

Bitcoin price analysis

Bitcoin slipped below its 50-day moving average ($66,147) on June 14, but the bulls could not sustain the lows. This shows that buyers are trying to defend the 50-day SMA.

The 20-day exponential moving average ($67,863) has started to decline, and the relative strength index (RSI) is in negative territory, indicating that the bears have an edge. If the BTC/USDT pair declines from the current level or the 20-day EMA and breaks below the 50-day SMA, it suggests the start of a deeper correction towards $60,000.

If buyers want to pull back, they should quickly push the price above the 20-day EMA. That clears the way for a rally to $72,000 where the bears could mount a strong challenge again.

The pair is range-bound between $64,602 and $72,000 for the time being. Buyers are trying to start a recovery from the $65,000 level, which may face selling at the moving average. If buyers break this barrier, the pair could jump to $70,000.

Contrary to this assumption, if the price is reduced from the moving averages, it shows that the sentiment is negative and the bears are selling at each rally. The pair could drop to $64,602. This is an important level to watch because a break below could initiate a decline to $60,000.

Ether price analysis

Ether bounced back sharply from the 50-day SMA (3,415) on June 14, suggesting that lower levels are attracting buyers.

The 20-day EMA ($3,612) is an important level to pay attention to. If buyers push the price above the 20-day EMA, it suggests that the correction may be over. The ETH/USDT pair will try to rise to $3,730 and later to $3,977.

If the price declines below the 20-day EMA and breaks below the 50-day SMA, this optimism is worthless in the near term. That could start to decline toward critical support at $2,850.

The pair has risen above the 50-SMA, indicating that the selling pressure is diminishing. If the bulls put the price above the 50-SMA, it indicates the start of a strong recovery. The pair may rise to $3,730, which is expected to act as resistance. If the price breaks above the resistance above but recovers the 20-EMA, it will add a break above $3,730. The pair could raise about $3,887.

Conversely, if the price falls below $3,362, it indicates that the bears have sold the rally aggressively. ETH price may slide towards $3,000.

Token price analysis

Toncoin (TON) has completed a silver ascending triangle pattern after breaking above $7.67 on June 13. The price fell from $8.29 on June 15 to retest the $7.67 breakout level, which could set up a fierce battle between bulls and bears. .

If the price recovers from $7.67, it indicates that the bulls have reversed the level to support. Then buyers will try to push the price above $8.29. If they succeed, the TON/USDT pair could start its journey towards $10.

Instead, if the price is below $7.67, it indicates that the markets have declined. The pair could slide to the upper line, which is an important step for the bulls to defend against. If the price breaks above the uptrend, the bulls will try to continue the rally. But if the level is broken, the sale can be strengthened, and the price of a ton can go down to $ 6.

The price has fallen from the 20-EMA, which indicates that the bulls will continue to buy the dips. The bulls will try to push the price to the higher resistance at $8.29. This level can act as a strong barrier, but if the bulls lose, the pair could start the next leg of the uptrend.

Conversely, if the price declines and breaks below $7.67, it suggests that the bulls are losing their grip. The pair can go down to the 50-SMA and then to the upper line, buyers are expected to enter.

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Uniswap price analysis

Uniswap (UNI) broke off the 50-day SMA ($9) on June 12 and reached the $12 resistance on June 15.

Bears are expected to strongly defend the $12 level as they acted as formidable resistance on May 26 and June 4. However, the 20-day EMA ($10.24) has started to turn, and the RSI is in the positive zone, indicating an upward path with minimal resistance. If buyers push the price above $12, the UNI/USDT pair could rally to $13.34 and then to $15.

If the bears want to prevent an upside, they need to lower the price below the 20-day EMA. That could sink the pair to the 50-day SMA.

The 4-hour chart shows that the price is consolidating near the overhang resistance, indicating that the bulls are not in a hurry to book profits as they expect another leg up. An upward 20-EMA and an RSI in the positive zone indicate that bulls are in command. The pair may rise above $12 and reach $13.34.

Alternatively, if the price drops below $12 and breaks below the 20-EMA, it suggests that the bulls are rushing to the exit. That could push the price down to the 50-SMA.

Monero price analysis

Monero (XMR) had been rising for several days but the buying accelerated after the price rose above the $153 resistance.

The bears are trying to stop the rally at $180, but the bulls are not letting the price drop below the 20-day EMA ($163). This indicates that the bulls are buying on minor dips, which increases the possibility of a break above $180. If that happens, the XMR/USDT pair could rally towards a strong overhead resistance of $190.

This bearish view will be rejected in the near term if the price declines significantly and dips below the 20-day EMA. The pair may continue to decline before finding support at $153.

The 4-hour chart shows that the pair is trading in a descending channel pattern. If the price rises from the moving averages, the bulls will again try to drive the pair above the channel. If you do this, your chances of finding a rally above $180 will improve.

Conversely, if the price breaks below the moving averages, bulls are discouraged. That could pull the price to $169 and then to the support line. A break below the channel indicates that the bears are in control.

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.