Could Cryptocurrencies recover losses this summer?

On Tuesday, Bitcoin trades at $21,000 as optimism is encouraging more transactions on the Volume Profile indicator. Investors are now looking to participate in the discounted Bitcoin price should consider reading last week’s outlook for an in-depth analysis and precise invalidation level.

Finally; the crypto market is showing signs of a decent recovery. It may be too early to touch the bottom, but multiple signals point to that possibility. Bitcoin price is currently up 20% since the fear-triggering selloffs that brought the digital currency back into the mid-17,000 territory, which Bitcoin has not reached since 2020.

Bitcoin price now targets a $25,700 area but is still submerged under the 200-week moving average at $22,500. Investors expect turbulence amid the latest optimistic recovery rally. A break and retest above $22,500 could produce enough momentum to push the Bitcoin price back to $25,000.

Invalidation for the recovery rally is a breach of $17,592. If this were to occur, $16,000 would be the next target resulting in a 24% decrease from the current Bitcoin price.

Ethereum price currently trades at $1,170 as the bulls continue gaining traction following the ground-shaking selloff that occurred over the weekend when Ethereum price struck $881 for a short period. The Relative Strength Index shows double bottom signals on a historical indicator low, which warrants the idea that a strong counter-trend rally will occur.

Ethereum price hovers just $30 below the 200-week moving average. A breach above this resistance, followed by a retest, could be the catalyst to induce the highly anticipated recovery rally. Conventional targets lie in the $1,700 level, with FOMO targets at $2,700 for up to a 200% increase from the current price.

Ethereum is a riskier digital asset because it has not breached the parallel channel and hovers nearly 70% above the bullish macro invalidation level at $388. If the bullish macro level were to get breached, the ETH price could fall as low as $100 for a 90% decline from the current Ethereum price.

Ripple price could be setting up for the final move south as the mid-$0.30 territory is providing resistance once again. The choppy price action comes as no surprise as the XRP community continues the continuing argument against the US Securities and Exchange Commission.

Ripple price currently trades at $0.33 amidst the legal dispute. This week the SEC drew the first sword, filing a request to prevent Ripple from sealing essential documents pertaining to “exhibit 0”. The objection filed justifies the current market behavior as bulls are unsure how their portfolio will perform in such a volatile new correlated market. If market conditions persist, a $0.25 target still has a high probability of getting breached.

Ripple price must hurdle the $0.38 level to confidently call a local bottom. If $0.38 were to get breached, the bulls could aim for $0.64, resulting in a 100% increase from the current XRP price.