The virtual currency market was booming in May, and the total market capitalization also showed signs of growth. However, this momentum was short-lived and the market has not been able to surpass the $2.3 trillion level.
Negative sentiment has increased this week, with capital outflows dominating the market and pushing prices down.
It has not yet regained its footing. After failing in its attempt to break through the $65,000 resistance level, Bitcoin is currently stuck in a sideways trading pattern.
On the other hand, it didn't go so well. Rejected at $3,200, Ethereum retreated into the support zone that has been under pressure since April.
Although the overall trend remains bearish, there are some bright spots. And it continues to resist broader market weakness and exhibit unique price movements.
RNDR and TON challenge broad market direction
RNDR has been on an upward trend throughout the year, but only experienced a short correction from March to April. Demand surged in May, helping RNDR pull out of this recent dip. 
Technically, RNDR found support near $7.5 during the recent decline. It quickly broke above the $9 resistance level, but is now struggling to break out of the second resistance near $10.7.
Indicators suggest that RNDR may be overbought in the short term, but it remains oversold on a weekly basis. This suggests a possible pullback toward $9, followed by renewed buying pressure and increased trading volume.
If RNDR can sustain above $9, it could break through the resistance at $10.7 and move towards its previous high of $13.6, possibly reaching $15-17. However, a daily close below $9 could trigger a decline to the $6 support level.
Overall, RNDR offers a unique opportunity in this bear market. A sustain above $9 could complete the current uptrend and reach new heights. Investors should be aware of the potential short-term pullback and downside risk if support levels are broken.
Toncoin (TON)
Telegram Open Network (TON) also bucked the bearish trend plaguing the crypto market. Fueled by the popular messaging app Telegram, TON's strong momentum stems from several factors.
This includes expanding the usage space within Telegram, growing the ecosystem of projects on the TON blockchain network, adding support, and more.
TON hit a record high of $7.66 last month, but saw a correction as investors cashed out, sending the price down to $4.8. However, May brought new strength to TON and the price is currently facing resistance at $6.
Technically, if the closing price of the day is above $6, TON could head towards the $6.7 to $7.4 or even $8 resistance zone. If the price falls below $5.7, the current bullish momentum could weaken and limit the chances of a recovery.
In case of further decline, TON could test the $4.6 support level, which corresponds to the 3-month EMA.
Overall, TON's resilience in a bear market is impressive. Further gains could be made above $6, but investors should be mindful of the potential pullback and downside risk if the support level is broken.
Meanwhile, Ethereum is still stuck in a triangle pattern
Ethereum remains stuck in a descending triangle pattern, raising concerns about a potential price decline. The cryptocurrency found temporary support last week at $2,930, but failed to break above $3,200 and started the week lower. 
If the coin falls below $2,900, it could signal a bearish breakout from the pattern and Ethereum could fall to $2,600. Technical indicators also indicate selling pressure. It is important for the price to maintain above $2,900 to prevent further sharp decline.
The $3,100 to $3,150 range remains a key resistance level for Ethereum. A decision regarding the Spot Ethereum ETF is expected to be made this month. The SEC currently appears hesitant to approve them, but a surprise approval could send prices soaring towards $3,600-$3,800.
In the absence of positive news, the Ethereum market may remain dominated by sellers for some time. Ethereum is at a critical moment. It is important to maintain support above $2,900 to avoid further declines. Positive developments or unexpected ETF approvals could trigger an upside break, but the current outlook leans bearish unless key support levels hold.
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