Greener Candles Crypto Market Analysis - 16/06/25
Happy Monday, traders!
The war FUD seems to have faded a bit (at least for now), and we've seen BTC bouncing back up while $HYPE made an even bigger jump to its new all-time high.
The top 100 coins all look green, but don't let it fool you; most of these have come down quite a lot, and despite the green, they are still downtrending if we zoom out.
Let's start the analysis with the king.
BTC
Bitcoin is starting to look pretty good to me. Even though the Israel/Iran conflict created some major FUD, the BTC price held up surprisingly well, bouncing from $103k support, creating a long wick and a higher low.
The price then made a long bullish wick and crossed the 107k resistance, which it is now trying to hold as support. This also aligns with the 50 moving average.
ETH
Similar to Bitcoin, ETH is also holding above the moving averages.
After deviating to the upside from the month-long range, and bouncing back up from the range lows, we could expect ETH to climb back to the top of the range at least and hopefully make an attempt to break free at last. Higher lows here look good, so ETH would need to create a higher high above $2,865 next and turn that into a new support.
SOL
Most of the altcoins don't look as good as BTC and ETH. While ETH is clearly ranging, SOL is still in a downtrend.
SOL made a nice jump above the 50MA but is struggling with resistance at $158. If it gets rejected here and the downtrend continues, we could see Solana price testing the $136 support next. On the upside, the next hurdle is near $165. Turn that into support, and things start to look much more bullish again.
GRIFFAIN
While looking at my altcoin watchlist, I can see many of them are up double digits in the past 24 hours, but like I mentioned, we shouldn't let this fool us, as most of them have dropped so much and are still deep in a downtrend.
On the very top of my list is $GRIFFAIN, which I happen to hold a tiny bit of. Despite the recent gains, GRIFFAIN has only created a lower high so far, so we cannot jump to any conclusion yet, but instead, assume the downtrend continues until proven otherwise. In this case, it would mean creating a higher high above $0.065.
There are so many tokens on my watchlists with charts looking exactly like this. No point in touching these until we begin to see higher highs and ETH perhaps breaking out of that range.
HYPE
When we zoom out on most alts, the charts look terrible, but there are exceptions.
I've been charting $HYPE for quite a while now, and it's repeating this same pattern over and over again on a different scale, though. Seen here in the picture below, after surging, $HYPE creates this descending wedge or flag pattern, which then breaks to the upside.
Catching these bottoms is easier said than done, as you can see by looking at my buys (green flags) on the chart. Therefore, I've come up with something else that seems to be working pretty well so far:
Concentrated liquidity pools on HyperEVM
I opened HYPE/stablecoin positions on HyperSwap and KittenSwap, which means the price must stay within a certain range for me the continue earning swap fees. If it goes out of the range, we'll have to wait or re-position the LP.
The APRs are pretty good in tighter ranges, but I like to have some room, as I don't want to be re-positioning all the time. Still, the earnings are quite ok and the position value also grows if HYPE surges. On top of that, we also earn protocol points on both platforms that eventually count toward airdrops.
I also like to draw the position range on TradingView so easier to monitor the positions in one single place.
That's all for today, have a great rest of the week and don't forget to like, comment and follow! 🟢🙏
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