Bitcoin Price Analysis: Following Massive $4000 Rebound, Is BTC Still In Danger?

The Bitcoin rollercoaster continues after the price dropped by a precipitous 14% from today’s high of $33,250 to reach as low as $28,600. After hitting this level, the cryptocurrency quickly rebounded back above $32,000 liquidating a huge amount of long then short positions.

Yesterday, it seemed like the critical support of $31.7K was holding, however, earlier today Bitcoin broke the ascending trend line (started forming on May 19), losing the $30k support, but, as of now, the price bounced back above.

So far, the past 7 days have been a nightmare for Bitcoin, as the primary cryptocurrency touched $41.3K just last Tuesday. Keeping in mind today’s current low of $28.6K, the price dropped over 30%, before slightly recovering. $28,600 is a 5-month low for Bitcoin. The last time it was trading below $30K was during January 2021.

Moving forward, Bitcoin is still in danger, however, two things might light a bit of positiveness on the market:

– The fact that Bitcoin price quickly rebounded over $4k after plunging below $30k shows that there is very strong demand, especially below $30k.

– The consolidation zone between $30k and $42k, which lasted since May 19, is still intact.

Despite the above, the situation is very fragile, as volatility is expected to continue for the next few days at least.

In addition, the bounce allowed Bitcoin to remain inside the descending price channel as shown on the short-term chart below and buyers defended $31,185 support, and the candle did not close beneath it.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $31,700, $31K, $30,000, $28,600, $27,740.

Key Resistance Levels: $32,465, $33,520, $34,760, $36,440, $37,500.

Looking ahead, the first support now lies at $31,700 (yesterday’s low and the ascending trend-line). This is followed by ~$31k – $31,185 (downside 1.618 Fib Extension), $30,000, and $28,600 (today’s low). Additional support lies at $27,740 (Jan 2021 lows), $26,840 (downside 1.414 Fib Extension), and $25,000.

On the other side, the first resistance lies at $32,465. This is followed by $33,520, $34,760, $36,440 (20-day MA), $37,500, and $39,490 (early-June highs).

The daily RSI is well within the bearish territory and is still not yet oversold. It is starting to push higher, which indicates that the bearish momentum might be easing up a little. Aside from that, a bullish divergence signal has also appeared on the LTF charts, such as the 4-hour’s.

Bitstamp BTC/USD Daily Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD Daily Chart. Source: TradingView.

Cardano Price Analysis: ADA Bears Take Control, Will $1 Hold?

ADA/USD – ADA Plummets Beneath The 100-day MA

Key Support Levels: $1.07, $1.00, $0.913.
Key Resistance Levels: $1.20, $1.30, $1.42.

ADA fell beneath the 100-day MA at $1.42 over the weekend and has since plummetted as low as $1 today.

The cryptocurrency was trading inside a symmetrical triangle pattern and broke toward the downside of the consolidation on Saturday. Yesterday, ADA slipped from the 100-day MA and fell beneath $1.20.

It continued today as ADA broke support at $1.12 (long-term .618 Fib) and dropped into $1 (short-term .886 Fib).

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ADA/USD Daily Chart. Source: TradingView.

ADA-USD Short Term Price Prediction

Looking ahead, if the bears break $1.07, the first major support lies at $1.00 (200-day MA). This is followed by support at $0.913 (May lows), $0.847 (downside 1.272 Fib Extension), $0.8, and $0.75 (.786 Fib).

On the other side, the first resistance lies at $1.20. This is followed by $1.30 (bearish .236 Fib & falling trend line), $1.42 (100-day MA), and $1.50 (bearish .382 Fib).

The daily RSI reached extremely oversold conditions today, indicating that the sellers must be reaching exhaustion soon. The RSI is now the most oversold since September 2020.

ADA/BTC – ADA Loses 50-day MA and Drops To .5 Fib Support

Key Support Levels: 3440 SAT, 3200 SAT, 3070 SAT.
Key Resistance Levels: 3600 SAT, 3800 SAT, 4000 SAT.

ADA also lost crucial support at 3820 SAT (.382 Fib) this week. It had established this support in June and managed to close each daily candle above it through the month. ADA bounced higher from it over the weekend and climbed above the 50-day MA.

Unfortunately, it was unable to close above the 50-day MA at 4000 SAT and dropped lower from there yesterday as it fell beneath 3820 SAT (.382 Fib). Today, it continued until added support was found at 3440 SAT (.5 Fib).

ADA/BTC Daily Chart. Source: TradingView.

ADA-BTC Short Term Price Prediction

Moving forward, the first support lies at 3440 SAT (.5 Fib). This is followed by 3200 SAT, 3070 SAT (.618 Fib & 100-day MA), and 3000 SAT.

On the other side, the first resistance lies at 3600 SAT. This is followed by 3800 SAT, 4000 SAT (50-day MA), and 4190 SAT (20-day MA).

The RSI is in bearish territory and is still not oversold. This indicates that there might be some more selling pressure on the way.

Ripple Price Analysis: Following a 35% Weekly Crash, XRP Testing Support at 2019 Highs

XRP/USD – XRP Falls Beneath 200-day MA.

Key Support Levels: $0.56, $0.5, $0.478.
Key Resistance Levels: $0.61, $0.71, $0.8282.

XRP was doing well to hold the support at the 2020 high at around $0.82 throughout June. However, the bears finally managed to penetrate beneath the support over the weekend after testing it numerous times.

Yesterday, XRP fell beneath the 200-day MA level at around $0.72 and plummeted into support at $0.61 (downside 1.618 Fib Extension). Today, the selling continued as XRP fell toward the 2019 highs at around $0.56. The support there is further bolstered by a long-term trend line that extends back to early February.

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XRP/USD Daily Chart. Source: TradingView.

XRP-USD Short Term Price Prediction

Looking ahead, if the sellers break $0.56, the first support lies at $0.5. This is followed by $0.478, $0.435 (downside 1.272 Fib Extension), $0.4, and $0.25 (Feb 2020 highs).

On the other side, the first resistance lies at $0.61. This is followed by $0.71 (200-day MA), $0.8282 (2020 High & 20-day MA), and $0.9.

The daily RSI is extremely oversold and is showing the most bearish momentum since December 2020. This shows that the bears should be overextended, and a reversal could be expected soon.

XRP/BTC – Bears Head Beneath 2000 SAT.

Key Support Levels: 1820 SAT, 1700 SAT, 1660 SAT.
Key Resistance Levels: 1900 SAT, 2000 SAT, 2200 SAT.

Against BTC, XRP broke the support at the 100-day MA yesterday as it fell from 2150 SAT and broke beneath 2000 SAT to hit the July 2020 lows at 1900 SAT.

It continued to drop today as it fell into support at 1820 SAT (downside 1.414 Fib Extension).

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XRP/BTC Daily Chart. Source: TradingView.

XRP-BTC Short Term Price Prediction

Looking ahead, if the sellers break 1820 SAT, the first support lies at 1700 SAT (200-day MA). This is followed by 1660 SAT (downside 1.618 Fib Extension), 1600 SAT, and 1550 SAT (November 2020 lows).

On the other side, the first resistance lies at 1900 SAT (July 20’ lows). This is followed by 2000 SAT, 2200 SAT (100-day MA), and 2300 SAT (20-day MA).

Likewise, the RSI is now showing extremely oversold conditions as it sits at levels not seen since December 2020. This indicates that the bears should be a little overextended now.

Bitcoin Price Analysis: BTC Down 24% Weekly, Reaching Crucial Support Now

As a continuation to its nightmare’s week, Bitcoin dropped another 8% from today’s $35,600 opening price and recorded a current low of $31,700, according to Bitstamp.

The primary cryptocurrency has been in a downtrend since reaching a weekly high of above $41.3K on Tuesday, and so far had seen a drop of 24% in just six days.

After another Death Cross that took place on Saturday, where the 50-day MA crossed below the 200-day MA, the bulls are now attempting to defend a critical support line around $32K. Failing to close today’s candle above it, could rapidly result in retesting of the lowest BTC price recorded since January – $30K (on May-19).

As can be seen on the following daily chart, today’s current low of $31.7K is an ascending supporting trend-line that was tested on three occasions – May 19, June 8’s low of $31K, and today.

In the short term, as can be seen on the following 4-hour chart, the bears are in full control where bitcoin is trading inside a descending price channel and is currently testing its lower boundary.

Overall, BTC had seen better days, as the nonstop news coming from China, along with a bearish technical event (Death Cross) put a threat upon the ongoing rally of 2021.

One sign that supports the idea of a possible (even temp) correction is the bullish divergence clearly seen on the lower time-frames, such as the 1-hour and 4-hour charts (on the daily chart – subject to today’s close).

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $32,465, $31,700, $31,000, $30,600, $30,000, $28,650.

Key Resistance Levels: $33,520, $34,000, $35,000 $36,750, $38,420.

Looking ahead, the first support lies at current trading levels of around $32K, as mentioned above. This includes today’s current low of $31.7K.

A bit below lies $31K – which is June’s lowest price level. This is followed by $30,600 (downside 1.618 Fib Extension), and $30,000 (lowest since January 2021). Beneath $30K, support is expected at $28,650 and $27,750 (Jan 2021 lows).

On the other side, the first resistance lies at $33,520. This is followed by $34,000 (price channel’s upper angle), $35,000, $36,750 (20-day MA), and $38,420 (early-June highs).

The daily RSI produced a fresh low for June today as the bearish momentum increases. However, as discussed above, the 1 and 4-hour RSI is showing hints of bullish divergence emerging. This might help the market rebound in the short term and help to defend the current $32,460 support.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Ethereum Price Analysis: ETH Crashes 20% Weekly, Will $2,000 Support Hold?

ETH/USD – Ether Breaks Consolidation & Hits $2000.

Key Support Levels: $2000, $1925, $1888.
Key Resistance Levels: $2200, $2340, $2400.

Ethereum is now down a sharp 20% on the week as the cryptocurrency crashes into the $2000 support. It had been trading inside a symmetrical triangle pattern over the past three weeks but ended up breaking this consolidation on Friday as it dropped to $2200.

Yesterday, ETH showed signs of weakness after spiking into the Feb 2021 highs at $2036. It rebounded to close the daily candle for around $2245. Today, however, the sellers retook control and pushed ETH as low as $1975.

It has found support at $2000, a round psychological number bolstered by a .786 Fib Retracement. A break beneath here could send ETH much lower over the coming weeks.

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ETH/USD Daily Chart. Source: TradingView.
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ETH/USD 4-Hour Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, if the bears break $2000, the first support lies at $1925 (May 23rd 4-HR rebound). This is followed by $1888 (.886 Fib & 200-day MA), $1800, and $1625 (downside 1.272 Fib Extension).

On the other side, the first resistance lies at $2200. This is followed by $2340, $2400, and $2500 (20-day & 50-day MA).

The daily RSI is now the lowest level since the May price capitulation and looks to be heading lower, indicating the bearish momentum is increasing. There is some hope on the 4HR chart as a hint of bullish divergence is emerging.

ETH/BTC – ETH Bearish Trend Continues To Develop With 0.06 BTC Critical Support

Key Support Levels: 0.06 BTC, 0.0585 BTC, 0.056 BTC.
Key Resistance Levels: 0.063 BTC, 0.065 BTC, 0.068 BTC.

Against BTC, the buyers are attempting to defend the support at 0.06 BTC. The sellers had penetrated support at 0.0628 BTC last week, but the buyers established 0.061 BTC as the next support.

With the increased bearish momentum in the market, it is not likely that this support will hold, and ETH is potentially heading beneath 0.06 BTC toward the late-May lows at 0.056 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Beneath 0.061 BTC, the first support lies at 0.06 BTC. This is followed by 0.0585 BTC (downside 1.272 Fib Extension), 0.056 BTC, 0.0541 BTC (April 2018 lows), and 0.0529 BTC (100-day MA).

On the other side, the first resistance lies at 0.063 BTC. This is followed by 0.065 BTC, 0.068 BTC (50-day MA), and 0.07 BTC.

The RSI is also well within the bearish territory but is slowly starting to rise. This could be the first signal that the bearish momentum is beginning to ease up a little. However, it could also indicate that the bears are taking a short break before increasing their selling pressure. Only time will tell if the RSI breaks beneath the highlighted rising support trend.

Bitcoin Price Analysis: BTC At 11-Day Low, is $30K Retest Incoming?

Bitcoin is down by a sharp 5% today as the primary cryptocurrency violently breaking down support at $35K. As of now, bitcoin is trading at its lowest price range since June 9.

Just five days after things started to look short-term bullish, as BTC surged above the 20-day MA to reach resistance located at $40,760 (bearish .382 Fib), Bitcoin about to conclude another bearish week.

The bigger picture hadn’t changed – since the May-19 huge liquidation crash, Bitcoin price is trading inside a choppy zone between $30K and $42K. Tuesday’s daily candle, which recorded a high of $41.3k, had quickly turned into a bull trap. Since then, BTC’s price lost almost $8K.

Looking at the smaller timeframe, BTC could not break above the upper boundary of the range ($42K) and quickly lost momentum. On Friday, it broke beneath the 20-day moving average line and then headed beneath $36,000. In doing so, BTC also broke down the lower angle of a rising wedge pattern (mostly textbook bearish) that we were tracking over the past week, and can be clearly seen on the following short-term’s 4-hour chart.

Since breaking beneath the wedge, the bulls attempted to defend the $35,000 support. However, this level couldn’t resist, as of writing these lines, and BTC is trading close to $33k.

What is important to note is that the recent price drops are occurring on lower trading volumes compared to May’s trading volume levels.

According to data from leading exchanges as can be seen below, the commutative volume has steadily remained beneath 50K BTC since the start of June. This is much lower than the ~150K BTC levels that were common around the mid-May capitulation. Low volume – no interest and market that can easily shift.

BTC Cumulative Volume. Source

 

Looking forwards, the recent breakdown beneath $34,000 might send BTC for another retest of the lower range of the mid-term trading zone, or in other words – toward $30,000.

As mentioned above, BTC has been trading inside the wide trading range between $30,000 and $42,000 for a total of 32 days so far. BTC Is likely to remain choppy until a clear breakout of this range takes place.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $33,520 – $33,120, $32,465, $31,675, $31,000, $30,000.

Key Resistance Levels: $35,000, $36,000, $36,750, $38,420, $39,500.

Looking ahead, the first support zone lies between $33,520 and $33,120, this range saw a lot of price action over the past month. Beneath $33,000, support is expected at $32,465, $31,675, $31,000, and $30,000.

On the other side, the first resistance now lies at $35,000. This is followed by $36,000, $36,750 (20-day MA), $38,420, and $39,500 (early-June Highs).

The daily RSI is in the bearish favor as it sits deep beneath 50. The momentum is now approaching the most oversold for June, and a break beneath the June low (around 30) is likely to send BTC back to $30K.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Crypto Price Analysis & Overview June 18th: Bitcoin, Ethereum, Ripple, Cardano, & Solana

The last week was rather challenging for altcoins as most of the major ones are trading in the red. Bitcoin managed to pull ahead a bit, which also resulted in an increase in its market dominance.

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Bitcoin

Bitcoin is up by a very small 2.8% over the past week as it currently trades at $37,900 – just above the 20-day MA.

The coin had provided some hope at the start of the week as it surged above $37,000 to break a falling trend line that has been in play since the mid-May market crash. After surpassing this trend line, it surged higher above $40,000 but failed to overcome resistance at $40,765 (bearish .382 Fib) and rolled over.

Since rolling over, BTC has dropped back beneath $40,000 over the past four days and recently founds support at the 20-day MA today at around $37,000.

On the short-term 4HR chart, BTC is currently trading inside a rising wedge formation but is battling to remain above the lower boundary of the wedge.

Looking ahead, if the buyers can rebound from the bottom of the wedge, the first resistance lies at $38,430. This is followed by $39,00, $39,490 (early-June highs), $40,000, and $40,763 (bearish .382 Fib). Added resistance lies at $42,000 (upper boundary of the wedge) and $43,000 (200-day & 50-day MA).

On the other side, the first support lies at $37,000 (20-day MA & lower boundary of the wedge). Beneath this, support lies at $36,750 (.786 Fib), $36,000, $34,760 (downside 1.414 Fib Extension), $34,000, $33,520, and $32,,465.

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BTC/USD Daily Chart. Source: TradingView.
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BTC/USD 4-Hour Chart. Source: TradingView.

Ethereum

Ethereum is down by a steep 6% this week as it currently trades at around $2330. The coin is inside a symmetrical triangle pattern but the bears are pressing the lower boundary of the formation today.

ETH bounced from support at $2333 (.5 Fib) at the start of the week and managed to push higher into resistance at $2600. There, it failed to overcome the 20-day MA and has since dropped lower into the lower angle of the triangle.

Looking ahead, if the sellers push beneath the triangle, the first support lies at $2200 (.618 Fib). This is followed by $2036 (Feb 2021 highs), $2,000, and $1880 (200-day MA).

On the other side, the first resistance lies at $2470 (100-day MA). This is followed by $2500 (20-day MA), $2600, and $2700 (upper angle of the triangle).

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ETH/USD Daily Chart. Source: TradingView.

ETH continues to struggle against BTC since rolling over from resistance at 0.077 BTC at the start of June. The cryptocurrency had established support at 0.0628 BTC over the past week but the sellers penetrated beneath there on Wednesday to the current 0.0616 BTC level.

Looking ahead, if the sellers push lower, the first support lies at 0.06 BTC. This is followed by 0.056 BTC, 0.0541 BTC (April 2018 lows), and 0.0522 BTC (100-day MA).

On the other side, the first resistance lies at 0.0628 BTC. This is followed by 0.065 BTC, 0.068 BTC (50-day MA), and 0.07 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

Ripple

XRP is down 4.5% this week but is doing well to maintain the $0.8282 level. The cryptocurrency had established support here, provided by the 2020 highs, at the start of June, and has maintained it ever since.

XRP did attempt to push higher this week but was unable to overcome resistance at $0.9 (20-day MA). Since then, XRP dropped lower to $0.8282.

Looking ahead, if the sellers break the $0.8282 support, the first support lies at $0.75 (.786 Fib). This is followed by $0.72 (200-day MA), $0.7, $0.671 (downside 1.414 Fib Extension), and $0.613 (downside 1.618 Fib Extension).

On the other side, the first resistance lies at $0.9 (20-day MA). This is followed by $1.00, $1.05 (bearish .382 Fib & 100-day MA), $1.15 (50-day MA), and $1.25 (Feb 2018 highs).

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XRP/USD Daily Chart. Source: TradingView.

Against bitcoin, XRP has been in a consistent downtrend since the beginning of the month after failing to break above the 20-day MA at 2800 SAT.

It fell beneath critical support at 2260 SAT (.786 Fib) at the start of the week and continued to dip until support was found at 2115 SAT (short term .886 Fib). It rebounded from there and is back above 2200 SAT today.

Looking ahead, the first resistance lies at 2415 SAT (bearish .236 Fib & 20-day MA). This is followed by 2660 SAT (bearish .382 Fib & 50-day MA), 2853 SAT (bearish .5 Fib), and 3000 SAT.

On the other side, if the sellers push lower, the first support lies at 2115 SAT (100-day MA). This is followed by 2000 SAT, 1900 SAT (Jul 2020 low), and 1750 SAT (200-day MA).

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XRP/BTC Daily Chart. Source: TradingView.

Cardano

ADA is down 3% this week as the coin currently trades at $1.46. The cryptocurrency found support at $1.40 (100-day MA) at the beginning of the week and started to push higher. Unfortunately, it could not overcome resistance at the 20-day MA at $1.60 on Wednesday and started to head lower from there.

ADA is actually trading inside a symmetrical triangle pattern and tested the lower boundary of the pattern today.

Looking ahead, the first support lies at $1.40 (lower triangle boundary, 100-day MA, & .5 Fib). Beneath this, support lies at $1.30 (.618 Fib), $1.23, and $1.20.

On the other side, the first strong resistance lies at $1.50. This is followed by $1.60 (20-day & 50-day MA), $1.71 (bearish .5 Fib & upper boundary of triangle), and $1.80.

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ADA/USD Daily Chart. Source: TradingView.

ADA is currently trading at the 50-day MA against BTC. The coin had found support last week at 3820 SAT (.382 Fib) and attempted to push higher but could never overcome the resistance at 4200 SAT.

It started to head lower from 4200 SAT this week until returning to the 3820 SAT support.

Looking ahead, the first resistance lies at 4000 SAT. This is followed by 4300 SAT (20-day MA), 4570 SAT (1.414 Fib Extension), 4800 SAT, and 4900 SAT (1.618 Fib Extension).

On the other side, the first support lies at 3820 SAT (50-day MA & .382 Fib). This is followed by 3600 SAT, 3440 SAT (.5 Fib), 3200 SAT, and 3000 SAT (200-day MA).

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ADA/BTC Daily Chart. Source: TradingView.

Solana

Solana is down by 6.5% this week as it currently trades at $38.40. The cryptocurrency rebounded from support at $36 at the beginning of the week as it started to push higher.

It did manage to spike above $40 throughout the week but could never close a daily candle above the resistance there, provided by a 50-day MA level. It has since dropped into the 20-day MA today at $38 but has since recovered above $38.33 (.236 Fib).

Looking ahead, the first resistance lies at $40 (50-day MA). This is followed by $44 (bearish .618 Fib), $48, and $50 (1.272 Fib Extension).

On the other side, the first support lies at $38.40 (.236 Fib). This is followed by $36, $34.66 (.382 Fib), $32 (100-day MA & .5 Fib), and $28.72 (.618 Fib).

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SOL/USD Daily Chart. Source: TradingView.

Against BTC SOL found support at 0.00095 BTC (.5 Fib) at the start of the week and started to push higher from there. On Wednesday, it managed to break above 0.001 BTC as it pushed above the 20-day MA.

SOL is also trading above a rising trend line as it attempts to defend it and the 20-day MA level today.

Looking ahead, the first strong resistance lies at 0.0011 BTC. This is followed by 0.0012 BTC, 0.00127 BTC (bearish .886 Fib), 0.00131 BTC (1.414 Fib Extension), and 0.00135 BTC.

On the other side, the first support lies at the rising trend line and the 20-day MA, around 0.001 BTC. Beneath this, support lies at 0.00095 BTC (.5 Fib), 0.00092 BTC (40-day MA), and 0.000873 BTC (.618 Fib).

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SOL/BTC Daily Chart. Source: TradingView.

Cardano Price Analysis: ADA Remains Indecisive Around $1.5 as Bulls Struggle With Momentum

ADA/USD – ADA Trades Inside Symmetrical Triangle

Key Support Levels: $1.50, $1.40, $1.30.
Key Resistance Levels: $1.60, $1.70, $1.80.

ADA has been consolidating for almost a month now as it trades inside a symmetrical triangle pattern. It surged higher at the end of May but found resistance at the upper boundary of the triangle at the start of June.

From there, ADA started to head lower and broke beneath the 50-day MA last week. It recently found support at the lower boundary of the symmetrical triangle as it battles to stay above $1.50.

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ADA/USD Daily Chart. Source: TradingView.

ADA-USD Short Term Price Prediction

Looking ahead, the first support lies at the lower boundary of the triangle, around $1.50. This is followed by $1.40 (.5 Fib & 100-day MA), $1.30 (.618 Fib), and $1.23 (long term .786 Fib).

On the other side, the first resistance lies at $1.60 (20-day & 50-day MA0. This is followed by $1.70 (upper boundary of the triangle & bearish .5 Fib), $1.80, and $1.90 (bearish .618 Fib).

The RSI is beneath the midline but is battling to head back toward it, indicating weak bearish momentum. It would need to break above the midline and pass the 60 level to break to the upside of the triangle.

ADA/BTC – ADA Finds Support At 50-Day MA

Key Support Levels: 3820 SAT, 3440 SAT, 3200 SAT.
Key Resistance Levels: 4000 SAT, 4400 SAT, 4570 SAT.

ADA failed to break resistance at 4900 SAT at the beginning of June. Last week, it dropped beneath the 20-day MA and continued down to 3820 SAT (.382 Fib).

Since then ADA has struggled to make ground above 4000 SAT but has done well to remain above the 3820 SAT support which is now further bolstered by the 50-day MA level.

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ADA/BTC Daily Chart. Source: TradingView.

ADA-BTC Short Term Price Prediction

Moving forward, the first resistance lies at 4000 SAT. This is followed by 4400 SAT (20-day MA), 4570 SAT (1.414 Fib Extension), 4900 SAT (1.618 Fib Extension), and 5000 SAT.

On the other side, the first support lies at 3820 SAT (.382 Fib & 50-day MA). This is followed by 3440 SAT (.5 Fib), 3200 SAT, and 3000 SAT (100-day MA).

The RSI is well beneath the midline, indicating the bears are in total control of the market momentum here. However, the Stochastic RSI is extremely oversold and should be primed for a bullish crossover signal soon.

Ethereum Price Analysis: ETH Bulls Defending a Critical Support Following a Rejection at $2.6K

ETH/USD – Ether Remains Inside Consolidaiton Pattern

Key Support Levels: $2333, $2200, $2000.
Key Resistance Levels: $2470, $2600, $2700.

Ethereum attempted to break resistance at $2600 at the beginning of this week but fell short at the 20-day MA there. It rolled over from there on Tuesday and headed toward the lower boundary of the currency symmetrical triangle pattern.

ETH has been trading inside this triangle for almost a month, and a breakout of the pattern would determine the next direction for the market.

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ETH/USD Daily Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first support lies at $2333 (.5 Fib & the triangle’s lower boundary). This is followed by $2200 (.618 Fib), $2000 (Feb 2021 highs), and $1800.

On the other side, the first resistance lies at $2470 (100-day MA). This is followed by $2600, $2700 (triangles upper boundary), and $2800.

The RSI remains beneath the midline, indicating weak bearish momentum. If it dips beneath the 40 level, the increased bearish momentum is likely to drive ETH beneath the current triangle.

ETH/BTC – ETH Continues To Bleed vs. BTC

Key Support Levels: 0.06 BTC, 0.056 BTC, 0.0541 BTC.
Key Resistance Levels: 0.0628 BTC, 0.068 BTC, 0.07 BTC.

Since testing resistance at 0.077 BTC (1.414 Fib Extension) at the start of June, ETH has been in a consistent downtrend against BTC. The coin originally attempted to defend 0.07 BTC (20-day MA) but fell beneath there last week to find support at 0.0628 BTC.

Yesterday, ETH slipped beneath the support at 0.0628 BTC and reached as low as 0.0615 BTC. The break of last week’s support hints that ETH might be heading back to 0.06 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Looking ahead, the first support lies at 0.06 BTC. This is followed by 0.056 BTC, 0.0541 BTC, and 0.052 BTC (100-day MA).

On the other side, the first resistance lies at 0.0628 BTC. This is followed by 0.068 BTC (50-day MA), 0.07 BTC, and 0.0737 BTC (bearish .618 Fib).

The daily RSI is showing signs of bullish divergence as it makes higher lows while the price makes higher highs. If this plays out, ETH could be expected to head higher from here.

Ripple Price Analysis: XRP Rangebound Around $0.85, Big Move Inbound?

XRP/USD – XRP Trades Sideways In Range

Key Support Levels: $0.828, $0.8, $0.75.
Key Resistance Levels: $0.92, $1.00, $1.05.

XRP has been inside a trading range between $1.05 and $0.8282 since the end of May. It bounced higher from $0.8282 (2020 highs) at the end of May and pushed into the $1.05 resistance (bearish .382 Fib) at the start of June.

Since then, XRP dropped beneath the 20-day MA and traded lower until support was found at $0.8282. Although the market has spiked beneath the support on numerous occasions, each daily candle in June managed to close above it.

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XRP/USD Daily Chart. Source: TradingView.

XRP-USD Short Term Price Prediction

Looking ahead, the first level of support lies at $0.8282. This is followed by $0.8, $0.75 (.786 Fib), the 200-day MA, and $0.7.

Alternatively, the first resistance lies at $0.92 (20-day MA). This is followed by $1, the 100-day MA, $1.05 (bearish .382 Fib), and $1.20 (50-day MA).

The RSI remains beneath the midline, indicating weak bearish momentum within the market. It will need to rise back toward the midline to allow XRP to return to the upper boundary of the range. It would still need to climb above 50 for a positive breakout of the current range.

XRP/BTC – Bears See Lowest Candle Close Since April

Key Support Levels: 2100 SAT, 2050 SAT, 1900 SAT.
Key Resistance Levels: 2260 SAT, 2400 SAT, 2660 SAT.

XRP continues to slowly bleed out against BTC this week after falling beneath 2260 SAT (.786 Fib) on Monday and hitting as low as 2115 SAT (short-term .886 Fib & 100-day MA) yesterday.

The daily closing price yesterday is the lowest closing price seen since late April. XRP is now approaching the 100-day MA, which hasn’t been seen since the start of April 2021.

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XRP/BTC Daily Chart. Source: TradingView.

XRP-BTC Short Term Price Prediction

Looking ahead, the first support lies at the 100-day MA, around 2100 SAT. This is followed by 2050 SAT (.886 Fib), 1900 SAT (July 2020 low), and 1750 SAT (200-day MA).

On the other side, the first resistance lies at 2260 SAT. This is followed by 2400 SAT (bearish .236 Fib) and 2660 SAT (bearish .382 Fib & 50-day MA).

The RSI is nearing extremely oversold conditions. This is the most oversold the market has been since mid-March, which could suggest the worst of the bearish momentum has passed.

BTC At Critical Decision Point As $40K Being Tested (Bitcoin Price Analysis)

Bitcoin is up by a total of 20% this week and it’s back at the $40K mark range.

Quick recap: BTC bounced from $34,760 on Sunday and surged even more on Monday to break the early June significant highs at $39,500 and even reach resistance at $40,760 (bearish .382 Fib Retracement).

The bullish momentum stalled slightly since reaching the resistance at $40,760 but manages to remain above $39,500 (early-June highs) and created a short-term tight trading range.

In addition, BTC is trading above a short-term rising trend line and is also trading inside a rising wedge formation, which is all best seen on the following 4-hour chart. Rising wedge tends to be a bearish formation, but often in bull markets we see a bullish breakout of the pattern.

Another way to look at it is the short-term rising trend line and the resistance at $40,760 are creating the formation of a short-term ascending triangle pattern.

From the bullish side, there are small hints that BTC should push higher and finally break $40,760 soon as there is hidden bullish divergence on the 4-hour RSI, with the RSI making lower lows and price action making higher lows. Despite that, Bitcoin still marks $42K zone as the next major level of resistance, which includes previous January 2021 highs and the 200-days moving average line.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $40,000, $39,500, $38,430, $36,750, $34,760.

Key Resistance Levels: $40,760, $42,000, $42,720, $43,600 – $44,000, $44,750.

Looking ahead, if the buyers break resistance at $40,760 (bearish .382 Fib), the first resistance lies at $42,000 (Jan 2021 highs). This is followed by $42,720 (1.272 Fib Extension & 200-day MA), $43,600 (1.414 Fib Extension), $44,000 (50-day MA),and $44,750. Added resistance lies at $46,000 and $47,360 (bearish .618 Fib).

On the other side, the first major support lies at $40,000. This is followed by $39,500 (early-June highs), $38,430 (4-hour’s MA-200 line), $36,750 (.786 Fib & 20-day MA), and $34,760 (downside 1.414 Fib Extension).

As mentioned, the 4-hour RSI is showing hints of hidden bullish divergence. Additionally, the RSI is now showing the highest level of bullish momentum since mid-May 2021 – before the market crash. This suggests that the buyers might be starting the recovery.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Ethereum Price Analysis: ETH Eyes $2.6K But Struggles Against Bitcoin

ETH/USD – Bulls Reclaim 20-day MA

Key Support Levels: $2470, $2400, $2333.
Key Resistance Levels: $2600, $2800, $281.

Ethereum bounced from support at $2333 (.5 Fib) over the weekend. There, it formed the lower boundary of a symmetrical triangle pattern and started to head higher. On Sunday, ETH pushed above the 100-day MA at $2470 and continued higher to reach $2600 yesterday.

Today, ETH is sitting above the 20-day MA as it looks to make ground above $2600 and head toward the upper boundary of the current consolidation pattern.

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ETH/USD Daily Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance above $2600 lies at $2700 (the upper angle of the triangle). This is followed by $2800, $2891 (bearish .382 Fib), $2950 (50-day MA), and $3000.

On the other side, the first support lies at $2470 (.382 Fib & 100-day MA). This is followed by $2400 (lower angle of the triangle), and $2333 (.5 Fib).

The RIS is now sitting above the midline as the buyers attempt to take control of the market momentum. If it can continue higher, the increased bullish momentum should allow ETH to head toward the triangle’s upper boundary.

ETH/BTC – Bulls Defend 0.0628 BTC support.

Key Support Levels: 0.0628 BTC, 0.06 BTC, 0.056 BTC.
Key Resistance Levels: 0.065 BTC, 0.067 BTC, 0.07 BTC.

ETH dropped from resistance at 0.077 BTC last week and continued to fall beneath the 50-day MA at 0.065 BTC until support was found at 0.0628 BTC.

Since then, ETH attempted to push higher but was unable to overcome resistance at the 50-day MA. It has dropped lower again but the bulls are battling to maintain the 0.0628 BTC support.

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ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Looking ahead, the first resistance lies at 0.065 BTC. This is followed by 0.067 BTC (50-day MA), 0.07 BTC (20-day MA), and 0.0737 BTC (bearish .618 Fib).

On the other side, the first support lies at 0.0628 BTC. This is followed by 0.06 BTC, 0.056 BTC (late May support), and 0.0541 BTC (April 2018 lows).

The daily RSI remains beneath the midline, indicating that the bears still control the momentum. However, it is showing hints of rising, suggesting that the bearish momentum might be starting to fade.

Ripple Price Analysis: XRP Bulls Battle To Defend 2020 Highs, These Are The Levels to Watch

XRP/USD – XRP Battling To Defend 2020 Highs

Key Support Levels: $0.828, $0.8, $0.75.
Key Resistance Levels: $0.92, $1.00, $1.05.

Last week, XRP fell beneath an ascending triangle pattern after dropping below $1.00. Over the course of the week, XRP crashed to $0.8 but has battled to close each daily candle above the 2020 high at $0.8282.

It is now struggling to break above the 20-day MA at around $0.92, and this will be the first resistance to overcome as a signal that the bulls are attempting a reversal.

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XRP/USD Daily Chart. Source: TradingView.

XRP-USD Short Term Price Prediction

Looking ahead, the first level of support lies at $0.8282. This is followed by $0.8, $0.75 (.786 Fib), and $0.7 (200-day MA).

Alternatively, the first resistance lies at $0.92 (20-day MA). This is followed by $1 (100-day MA), $1.05 (bearish .382 Fib), and $1.20 (50-day MA).

The RSI has been consistently beneath the midline throughout June 2021, indicating that the bears are in complete control of the momentum. However, it has not dipped too far beneath the 40 level, which indicates that the bears have failed to increase their momentum so far.

XRP/BTC – Bears Break Beneath May Low-day Closing Price

Key Support Levels: 2200 SAT, 2052 SAT, 1900 SAT.
Key Resistance Levels: 2260 SAT, 2415 SAT, 2500 SAT.

XRP is showing signs of weakness against BTC after breaking beneath the May low-day closing price at 2260 SAT today. A long-term .786 Fib provided this support, and the bulls attempted to defend this level over the weekend.

Since breaking beneath it, XRP dropped as low as 2200 SAT, where it founds support at a short-term .786 Fib.

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XRP/BTC Daily Chart. Source: TradingView.

XRP-BTC Short Term Price Prediction

Looking ahead, if the sellers continue beneath 2200 SAT, the first support lies at 2052 SAT (long term .886 Fib & 100-day MA). This is followed by 1900 SAT (Jul 2020 low) and 1800 SAT (200-day MA).

On the other side, the first resistance lies at 2260 SAT. This is followed by 2415 SAT (bearish .236 Fib), 2500 SAT (20-day MA), and 2662 SAT (bearish .382 Fib & 50-day MA).

The RSI is deep within the bearish territory here, indicating that the sellers are in total control of the market momentum. There is still room to continue further before the market becomes extremely oversold, suggesting prices could continue to decline from here.

Bitcoin Price Analysis: Following Today’s Spike, BTC Needs to Break This Level for Confirmed Bullish Reversal

Bitcoin is up by an impressive 13% from yesterday’s low at $34,760. The primary cryptocurrency rebounded from this support after dropping from $37,400 on Saturday. Over the past days, bitcoin was unable to break above the $36K mark, until one tweet.

Elon Musk, once again, caused the bitcoin price to fluctuate following another tweet about that Tesla could resume accepting Bitcoin.

Following the breakout, bitcoin was able to breach resistance at a descending trend line at $38,000 that suppressed the market since the mid-May market capitulation. Previously, BTC attempted to break this trendline three times and failed to do so.

Yesterday’s candle closed above the line, confirming the breakout. Today, BTC pushed to $39,840, creating a fresh high for the month of June 2021. Interestingly, this breakout came just three days after the Morning Star reversal pattern we highlighted in a previous analysis. However, it is essential to keep in mind that there is still critical resistance ahead up to $42,500, where lies the 200-day moving average line.

Today’s price increase allowed BTC to create the first higher high since the market selloff. What is now essential for the bulls, is for BTC to make a higher low above $39,200 to break the bearish trajectory of lower highs (the last of them took place at the beginning of June).

Nevertheless, all eyes are now looking between $42,000 and $42,500 as the next pivotal level for a BTC recovery.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $39,200, $38,000, $36,750, $36,000, $34,760.

Key Resistance Levels: $40,000, $40,760, $42,000 – $42,500, $44,700, $46,000.

Looking ahead, the first resistance lies at $40,000. This is followed by $40,760 (bearish .382 Fib), $42,000 (Jan 2021 highs), $42,500 (200-day MA), and $44,700 (50-day MA). Added resisatnce lies at $46,000 and $47,360 (bearish .618 Fib).

On the other side, the first support lies $39,200 (previous local high). This is followed by $38,000, $36,750, $36,000, and $34,760.

The RSI is now cleanly above the midline for the first time since May 10th – before the market capitulation. This indicates that the bulls are in the middle of regaining the market momentum. However, the 4-hour cahrt’s RSI shows that the market might be overbought and might lead to a short-term retracement.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Etheruem Price Analysis: ETH Facing Critical Decision Point, $2200 or $2500 Next?

ETH/USD – Market Falls Beneath 100-day MA

Key Support Levels: $2330, $2250, $2200.

Key Resistance Levels: $2470, $2600, $2720.

ETH failed to break the 50-day MA around $2890 at the start of June and, unlike bitcoin, ETH has been consistently dropping since. On Friday, ETH slipped beneath support at $2470 (.382 Fib) and slumped below the 100-day MA to find support around $2330 (.5 Fib).

On the short-term charts, an ascending trend line provides support for the ETH/USD market. Combined with the .5 Fib at $2330, this trend line will be critical to defending over the coming days. Failing to do so, ETH is likely to head toward $2200 again, and even further down towards the $2k mark.

ETH/USD Daily Chart. Source: TradingView.
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ETH/USD 4-Hour Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, if the sellers break the support at $2330 (.5 Fib & ascending trend line), the first support lies at $2200 – $2250 area (.618 Fib), Slightly below lies $2K, which was the Feb 2021 highs.

On the other side, the first resistance lies at $2470 (100-day MA). This is followed by $2600 (20-day MA), $2720, $2800, and $2890 (bearish .382 Fib & 50-day MA).

The daily RSI is at the lowest level seen in June, indicating that the bears are starting to gain momentum. On the other hand, looking at the 4-hour chart, the RSI rebounded from oversold conditions during this weekend and is attempting to head back toward neutral territory. If the short-term momentum can turn bullish, it should help ETH remain above the critical trend line support.

The bottom line is that ETH/USD reaching a decision point.

ETH/BTC – Bulls Battle With 50-day MA

Key Support Levels: 0.065 BTC, 0.0628 BTC, 0.06 BTC.

Key Resistance Levels: 0.07 BTC, 0.0737 BTC, 0.077 BTC.

ETH continues to struggle against BTC. It was trading as high as 0.077 BTC (1.414 Fib Extension) at the start of the week but has since dropped beneath the 20-day MA at 0.07 BTC and continued to fall into support at 0.0628 BTC this weekend before a quick rebound toward the current trading levels of 0.066 BTC (50-day MA).

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ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Looking ahead, if the bears push the market lower, the first support lies at the current level of 0.065 BTC. This is followed by 0.0628 BTC, 0.06 BTC, and 0.056 BTC (late-May low).

On the other side, the first resistance lies at 0.07 BTC (20-day MA). This is followed by 0.0737 BTC (bearish .618 Fib), 0.077 BTC (June highs), and 0.08 BTC.

The daily RSI sits beneath the midline and struggles to head back toward the neutral territory, indicating that the bears are still unwilling to relinquish control of the momentum right now.

Crypto Price Analysis & Overview June 11th: Bitcoin, Ethereum, Ripple, Polkadot, & Matic

It was a rather unfortunate week for the entire cryptocurrency market as most of the coins are trading in the red. Bitcoin is no exclusion, though it’s the one the best performer, relatively speaking, compared to major altcoins.

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Bitcoin

Bitcoin is down by a small 4% over the past week as it currently sits above the 20-day MA at $37,000. The cryptocurrency saw an interesting week after testing $39,200 last week. There, it found resistance at a falling trend line and failed to overcome it.

It rolled over from there and started to head lower as the week progressed. On Monday, it dropped beneath $36,000 and spiked as low as $31,000 on Tuesday. It quickly rebounded from this weekly low and ended up closing Tuesday’s daily candle above $33,500.

From there, BTC started to turn quite optimistic after being able to surge on Wednesday to break resistance at the 20-day MA at $37,000. Yesterday, BTC surged back above $38,000 but found resistance at the same falling trend line it struggled with last week. Nevertheless, it is still above the 20-day MA today.

Looking ahead, the first resistance lies at $38,000 (falling trend line). This is followed by $39,200 (last week’s high), $40,000, $40,763 (bearish .5 Fib), and $42,000 (July 2021 high & 200-day MA).

On the other side, the first support lies at $36,750 (.786 Fib & 20-day MA). This is followed by $36,000, $34,760 (downside 1.414 Fib Extension), $33,500, $32,465, and $31,000.

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BTC/USD Daily Chart. Source: TradingView.

Ethereum

Ethereum is down by a strong 13% this week as the cryptocurrency breaks beneath $2,500 again today. Last week, Ethereum was trading inside an ascending triangle pattern with the roof of the triangle at $2891 (bearish .382 Fib). It failed to overcome this resistance and started to head lower throughout the week.

On Monday, ETH fell beneath the previous ascending price channel and spiked as low as $2330 on Tuesday. However, it quickly bounced higher by the end of the day to close above $2470 (.382 Fib). Since then, ETH has managed to remain above this support and is battling to keep above it today.

Looking ahead, if the market drops beneath $2470, the first support lies at $2400 (100-day MA & rising trend line). This is followed by 2330 (.5 Fib), 2200 (.618 Fib), and $2035 (Feb 2021 highs).

On the other side, the first resistance lies at $2600 (20-day MA0. This is followed by $2800, $2890 (bearish .382 Fib & 50-day MA), $3000, and $3135 (bearish .5 Fib).

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ETH/USD Daily Chart. Source: TradingView.

ETH is struggling this week against BTC. The coin had set a new high for June at the start of the week as it surged into 0.077 BTC (1.414 Fib extension). Unfortunately, it rolled over from there and started to head lower. On Wednesday, ETH collapsed beneath 0.075 BTC and dropped to 0.07 BTC (20-day MA).

Over the past two days, ETH continued lower from the 20-day MA as it broke beneath 0.07 BTC to reach the current 0.066 BTC level (50-day MA).

Looking ahead, if the sellers push beneath the 50-day MA, the first support lies at 0.0641 BTC (.618 Fib). This is followed by 0.062 BTC, 0.06 BTC, and 0.056 BTC (late-May lows).

On the other side, the first strong resistance lies at 0.07 BTC (20-day MA). This is followed by 0.0737 BTC (bearish .618 Fib), 0.077 BTC (1.414 Fib Extension), and 0.08 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

Ripple

Ripple is down by a steep 17% this week as the cryptocurrency trades beneath $0.09. It was trading inside an ascending triangle pattern last week but failed to overcome the upper boundary of the pattern at $1.05.

It dropped beneath $1.00 over the weekend and continued beneath the triangle on Monday. Since then, it headed lower throughout the week but managed to establish support at $0.8282 (2020 highs).

Looking ahead, the first support lies at $0.8282. This is followed by $0.8, $0.75 (.786 Fib), $0.7 (200-day MA), and $0.671 (downside 1.414 Fib Extension).

On the other side, the first resistance lies at $0.94 (20-day MA). This is followed by $1.00, $1.05, $1.20 (50-day MA), and $1.25 (Feb 2018 highs).

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XRP/USD Daily Chart. Source: TradingView.

Against bitcoin, XRP struggled to break resistance at 2660 SAT (50-day MA) at the start of the week and started to head lower. It initially found support at 2465 SAT (.5 Fib) but continued beneath there yesterday.

The market dropped beneath 2360 SAT (.618 Fib) today as the bears continue to drive XRP back toward the May support levels around 2260 SAT.

Looking ahead, the first support lies at 2260 SAT (.786 Fib). This is followed by 2200 SAT, 200 SAT (50-day MA0, 1900 SAT (July 2020 low), and 1800 SAT (200-day MA).

On the other side, the first resistance lies at 2570 SAT (20-day MA). This is followed by 2660 SAT (50-day MA & bearish .382 Fib), 2800 SAT, 2863 SAT (bearish .5 Fib), and 3000 SAT.

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XRP/BTC Daily Chart. Source: TradingView.

Polkadot

DOT is down by a solid 16% this week as it currently trades around $22.70. The coin was also trading inside a symmetrical triangle pattern and failed to overcome the upper boundary of this pattern toward the end of last week.

As a result, DOT headed lower into the week as it broke beneath the 200-day MA at around $25. It continued lower until support was established at $21.45 (.5 Fib & lower boundary of the triangle) on Wednesday.

Looking ahead, the first support lies at the lower boundary of the triangle, around $21.50. This is followed by $20, $19.60 (.618 Fib), $17.50, and $15.80.

On the other side, the first resistance lies at $25 (the upper boundary of the triangle & 200-day MA). Above the triangle, resistance lies at $27.75 (bearish .382 Fib), $30 (100-day MA), and $32.12 (bearish .5 Fib).

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DOT/USD Daily Chart. Source: TradingView.

Against BTC, DOT was testing resistance at around 0.00069 BTC (bearish .382 Fib) last week but was unable to overcome the level. It started to head lower from there and eventually broke beneath the 100-day MA at 0.00065 BTC on Wednesday.

It continued further and is now trading at 0.000607 BTC.

Looking ahead, the first support lies at 0.000696 (2020 highs). This is followed by 0.00056 BTC (200-day MA0, 0.000544 BTC, and 0.000527 BTC. Added support lies at 0.0005 BTC.

On the other side, the first resistance lies at 0.00065 BTC (100-day MA). This is followed by 0.00069 BTC (bearish .382 Fib), 0.0007 BTC, and 0.00074 BTC (bearish .5 Fib).

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DOT/BTC Daily Chart. Source: TradingView.

Polygon

MATIC is down by a sharp 25% this week as the coin drops into support at $1.35 (.5 Fib Retracement). The coin is trading inside a very large symmetrical triangle pattern and is very close to the apex of the triangle.

With the current bearish momentum within the market, it is highly likely that MATIC is going to break toward the downside of this triangle unless some positive sentiment quickly emerges this week.

Looking ahead, the first support lies at the lower boundary of the triangle, around $1.30 (50-day MA). This is followed by $1.10 (.618 Fib), $0.96, $0.8 (100-day MA), and $0.726 (.786 Fib).

On the other side, the first resistance lies at the triangle’s upper boundary, around $1.50. This is followed by $1.70 (20-day MA &bearish .382 Fib), $1.85 (bearish .5 Fib), and $2.00 (bearish .618 Fib).

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MATIC/USD Daily Chart. Source: TradingView.

Against BTC, MATIC struggled to break resistance at around 4500 SAT at the start of the week. On Wednesday, it headed lower from this resistance and dropped to 4000 SAT.

Over the past two days, MATIC continued lower to reach the current 3690 SAT level.

Looking ahead, the first support lies at 3500 SAT (.5 Fib). This is followed by 3100 SAT (50-day MA), 3000 SAT (.618 Fib), and 2500 SAT.

On the other side, the first resistance lies at 4000 SAT. This is followed by 4500 SAT (bearish .382 Fib), 4785 SAT (bearish .5 Fib), 5000 SAT, and 5100 SAT.

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MATIC/BTC Daily Chart. Source: TradingView.

Ethereum Price Analysis: ETH Bulls Defending an Important Level, Will $2,500 Hold?

ETH/USD – ETH Falls Beneath Ascending Triangle.

Key Support Levels: $2470, $2330, $2200.
Key Resistance Levels: $2700, $2890, $3000.

ETH fell beneath an ascending triangle pattern tracking over the past fortnight after dropping to $2600 on Monday. It fell beneath the lower boundary (dashed line) and continued until support was established around the $2500 level.

The coin did spike as low as $2330 during the week but is now attempting to maintain itself above the newly formed rising trend line, which might start making a new lower boundary for the triangle.

Yesterday, ETH did rebound from this rising trend line but was unable to overcome resistance at $2600. It has since dropped back beneath this resistance today and is trading near $2560.

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ETH/USD Daily Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, if the bears push beneath the rising trend line, the first support lies at $2470 (.382 Fib). This is followed by $2330 (.5 Fib), $2200 (.618 Fib), and $2036 (Feb 2021 highs).

On the other side, the first strong resistance lies at $2700. This is followed by $2890 (bearish .382 Fib), $3000, and $3135 (bearish .5 Fib).

The daily RSI made a new lower low in June beneath the midline, indicating that the bearish momentum is starting to increase again. If the RSI drops beneath the 40 level, we can expect the increased bearish momentum to drive ETH back to $2200 at the very least.

ETH/BTC – ETH Drops 12% From June Highs

Key Support Levels: 0.0666 BTC, 0.0641 BTC, 0.062 BTC.
Key Resistance Levels: 0.07 BTC, 0.0737 BTC, 0.077 BTC.

ETH started June on a promising footing as it broke resistance at 0.0737 BTC (bearish .618 Fib) toward the end of last week. In doing so, it penetrated above an ascending triangle pattern and continued higher to meet resistance at 0.077 BTC (1.414 Fib Extension).

Unfortunately, the buyers were unable to continue beyond 0.077 BTC and rolled over from there on Tuesday. Yesterday, ETH dropped beneath the support at 0.075 BTC, and it continued beneath 0.07 BTC today to hit 0.068 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Looking ahead, if the sellers continue lower, the first support is expected at 0.0666 BTC (.5 Fib). This is followed by 0.0641 BTC (.618 Fib), 0.062 BTC, and 0.06 BTC (May support).

On the other side, the first resistance lies at 0.07 BTC. This is followed by 0.0737 BTC (bearish .618 Fib), 0.077 BTC (June highs), and 0.08 BTC.

The RSI has also plummeted beneath the midline, indicating that the bears have regained control of the market momentum.

Bitcoin Price Analysis: Following $6K Rebound, BTC Facing Critical Decision Point

Bitcoin remains up by a strong 8% over the past 24 hours of trading as it gained over $6K in less than two days, before slightly retracing from the $37.6K resistance area.

The primary cryptocurrency has seen a very interesting but volatile week after breaking beneath a symmetrical triangle pattern on Monday and sharply dropping as low as $31,000 on Tuesday. However, the rebound was even quicker, and as mentioned above, earlier today bitcoin reached resistance around $37,630, provided by a short-term bearish .786 Fib Retracement level. Roller coaster.

As of writing these lines, bitcoin is retesting the lower boundary of the triangle amid the $36k level, which became support.

As mentioned in yesterday’s analysis, the last three days of candles have formed a perfect morning start reversal pattern. This could be the first indication that bitcoin is attempting to rebound and set a temporary bottom following the severe decrease since mid-May, which resulted in a 50% loss.

Another bullish sign is coming from the decent wicks that can be seen on the daily chart. As for the four days bitcoin dropped below $33k, buyers rushed to buy and increase the price and closed the daily candle above that level which indicates strong accumulation.

Another thing to note is the “floor” forming around the $30k-$31k mark, which is so far seen as a triple bottom (bullish pattern) over the past month. This is true unless the latter breaks down.

However, it is essential to note that vitcoin is still forming a series of lower highs trajectory on the daily chart and must break the high from early June at $39,400 to indicate that this 2-month long (since current mid-April ATH) downward trend is starting to fade. Additionally, it would still need to break the strong resistance at $42,000 (200-day MA and previous January high).

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $36,100, $35,130, $34,350 – $34,000, $33,520, $33,000.

Key Resistance Levels: $37,630, $38K, $38,470, $39,400.

Looking ahead, the first support lies at $36,100 (.236 Fib). This is followed by $35,130 (.382 Fib), $34,350 (.5 Fib), $34,000, and $33,520. Added support is found at $33,000 and $32,465.

On the other side, the first resistance lie at $37,630, which is yesterday’s and today’s high as of writing these lines, along with the bearish .786 Fib level. Further above lies $38,000 (the descending trend line), followed by $38,470 (bearish .886 Fib), $39,400, and $40,765 (medium-term bearish .382 Fib).

The RSI has returned to the midline, indicating indecision within the market. On the recent rebound, it did spike above 50 but was unable to surpass the early-June peak. This indicates that the bullish momentum might have quickly faded, and the downtrend still remains intact until the RSI can produce a clear push above the 60 level.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Bitcoin Price Analysis: First Signs That BTC Found a Local Bottom Yesterday

Bitcoin is up by 12% from yesterday’s low of $31,000, according to Bitstamp, and is currently battling to climb above a descending trend line that spans the first week of June.

The primary cryptocurrency saw a turbulent week after breaking beneath the previous symmetrical triangle pattern on Monday. BTC kept sliding following the bearish breakout as it even broke the late-May support at $33,500 and continued lower yesterday to hit the low at $31,000, which was the lowest price for BTC since May 19 crash.

However, the rebound was rapid, as bitcoin found a temp bottom at $31,000 – the same level at which it rebounded on May 23. In conclusion, after another very volatile they, the market eventually closed yesterday’s candle at the same price it opened, at around $34,000.

Today, BTC continued to push higher above $34,000 and managed to get to $35,450 before running into a descending trend line that started from the early-June highs. A bearish .5 Fib further bolsters the resistance at $35,230, measured from the June high to low.

Optimistically, if today’s candle can close beyond $35,000, the market would form a morning star candlestick pattern, which is a bullish reversal pattern formed over the last three days of trading.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $34,760, $34,000, $33,520, $33,000, $32,465.

Key Resistance Levels: $35,230, $36,220, $36,750, $37,630, $38,570.

Looking ahead, the first resistance lies around $35,230 (bearish .5 Fib & descending trend line). This is followed by $36,220 (bearish .618 Fib), $36,750 (20-day moving average line), $37,630 (bearish .786 Fib), and $38,570 (bearish .886 Fib).

On the other side, the first major support is expected at $34,760. This is followed by $34,000 (late-May horizontal support), $33,520, $33,000, and $32,465. Further down lies yesterday’s low at $31K.

The daily RSI remains in the bear’s favor. However, it is starting to regain momentum, which indicates that the short-term bearish momentum is fading again. Yet, it would need to push beyond the midline and break the early-June spike above 50 to indicate any sustainable bullish momentum.

The RSI has finally spiked above the midline on the short-term chart, indicating short-term bullish momentum is showing up again. It would need to rise beyond 60 for this bullish momentum to be sustained.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Solana Price Analysis: SOL Skyrockets 40% Weekly, What’s Next?

SOL/USD – Weekly 38% Surge Sees SOL Above $40

Key Support Levels: $40, $38.33, $34.65.
Key Resistance Levels: $44, $50, $52.

SOL is the highest performing top-25 ranked coin after surging 39.5% this week. The cryptocurrency climbed by another 18% today, allowing it to break back above the $40 level and test resistance at $44.

The coin found support at $24.55 during the May capitulation and has since rebounded to trade inside a rising price channel. The surge seen over the past 24-hours allowed it to rise above the 50-day MA at $40 and hit resistance at a bearish .618 Fib.

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SOL/USD Daily Chart. Source: TradingView.

SOL-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $44 (bearish .618 Fib). This is followed by $50 (1.272 Fib Extension), $52, $54 (1.414 Fib Extension), and $58 (ATH Price). Additional resistance lies at $60 (1.618 Fib Extension) and $63.60 (1.414 Fib Extension -orange).

On the other side, the first support lies at $40 (50-day MA & lower boundary of price channel). This is followed by $38.33 (.236 Fib), $34.65 (.382 Fib & 20-day MA), $31.70 (.5 Fib), and $29.

The RSI is now above the 60 level, indicating that the bullish momentum is increasing within the market. To break the current $44 resistance, the RSI must pass the early June peak to indicate that the buying momentum is still increasing.

SOL/BTC – Bulls Head Near Previous ATH Prices

Key Support Levels: 0.0012 BTC, 0.00113 BTC, 0.0011 BTC.
Key Resistance Levels: 0.,00127 BTC, 0.00131 BTC, 0.0014 BTC.

Against bitcoin, SOL is almost trading at the previous ATH price near 0.00131 BTC. The coin found solid support at 0.000704 BTC (200-day MA) during the May capitulation and has since rebounded from there.

At the start of June, SOL surged above the 20-day MA at 0.0009 BTC and has continued higher since. It penetrated above resistance at 0.0012 BTC yesterday and reached as high as 0.00129 BTC today.

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SOL/BTC Daily Chart. Source: TradingView.

SOL-BTC Short Term Price Prediction

Moving forward, the first resistance lies at 0.00127 BTC (bearish .886 Fib). This is followed by 0.00131 BTC (1.414 Fib Extension & ATH), 0.0014 BTC, and 0.001475 BTC (1.618 Fib Extension).

On the other side, the first support lies at 0.0012 BTC. This is followed by 0.00113 BTC (.236 Fib), 0.0011 BTC, 0.00103 BTC (.382 Fib), and 0.001 BTC (rising trend line).

The RSI is approaching overbought conditions but still has room to push higher before the buyers become overextended. This indicates that the bulls should have sufficient momentum to be able to crack the ATH in the coming days.

Ripple Price Analysis: XRP Tumbles 9% Daily But Is The Selling Over?

XRP/USD – XRP Spikes Into 2020 Highs

Key Support Levels: $0.828, $0.8, $0.75.
Key Resistance Levels: $0.9, $1.00, $1.05.

XRP dropped by a sharp 9% over the past 24 hours as it falls beneath a rising trend line and spikes as low as $0.82 (2020 highs) today.

The cryptocurrency started the month of June off by battling resistance at $1.05 (bearish .382). Unfortunately, this level actually formed the upper boundary of an ascending triangle pattern, and the buyers were unable to overcome it.

XRP fell beneath $1.00 last week and continued to slide into the lower boundary of the triangle. Yesterday, after another failed attempt to break $1, XRP fell beneath the rising trend line to fall into the 2020 highs. It has since bounced to trade around $0.86.

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XRP/USD Daily Chart. Source: TradingView.

XRP-USD Short Term Price Prediction

Looking ahead, if the sellers continue lower, the first support lies at $0.828 (2020 highs). This is followed by $0.8, $0.75 (.786 Fib), $0.7 (200-day MA), and $0.671 (downside 1.414 Fib Extension).

On the other side, the first resistance lies at $0.9. This is followed by $1 (100-day MA), $1.05 (bearish .382 Fib), and $1.25 (50-day MA and Feb 2018 Highs).

The RSI is making lower lows beneath the midline, indicating that the bearish momentum is increasing. However, it still has room to continue lower before becoming oversold, meaning that the selling might be far from over.

XRP/BTC – Bulls Battle With 50-day MA

Key Support Levels: 2570 SAT, 2465 SAT, 2360 SAT.
Key Resistance Levels: 2660 SAT, 2800 SAT, 2863 SAT.

Against BTC, XRP has struggled to break the 50-day MA level over the past five days. A bearish .382 Fib further bolsters the resistance at 2660 SAT.

XRP started June off above 2800 SAT but since headed lower. It found support at 2570 SAT 9.382 Fib) yesterday and is battling to remain above there today. XRP will need to break the resistance at the 50-day MA to attempt the May highs again.

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XRP/BTC Daily Chart. Source: TradingView.

XRP-BTC Short Term Price Prediction

Looking ahead, if the bulls break 2660 SAT (bearish .382 Fib & 50-day MA), the first resistance lies at 2800 SAT. This is followed by 2863 SAT (bearish .5 Fib), 3058 SAT (bearish .618 Fib), and 3360 SAT (Feb 2020 highs).

On the other side, the first support lies at 2570 SAT (.382 Fib). This is followed by 2465 SAT (.5 Fib), 2360 SAT (.618 Fib), and 2260 SAT (long-term .786 Fib).

The RSI is at the midline, indicating indecision within the market. To break above the 50-day MA and head higher, the RSI must pass above 50 and rise beyond 60 to show increased bullish momentum within the market.

Bitcoin Price Analysis: BTC Breaks Beneath Symmetrical Triangle – Is $30K Incoming?

Bitcoin fell by a sharp 10% today as it lost over $5000 over the past 48 hours. The primary cryptocurrency was trading inside a symmetrical triangle pattern since the market capitulation took place in mid-May when BTC fell by 50% from a high of $59,600 to a low of $30,000 in just nine days.

Since then, BTC traded inside the consolidation phase for a total of eighteen days until it broke the lower boundary of the triangle yesterday. This can be clearly seen on the following daily chart. BTC then closed yesterday’s candle at $33,520 (bearish close below the triangle’s boundary around $35k) and continued lower today to reach $32,190 (as of now).

The decline also caused BTC to spike beneath crucial support is at $32.5K (as of writing these lines BTC rebounded). This level provided both strong support and resistance during January. A daily close beneath it is likely to drive BTC lower into the $30,000 region next.

One critical indicator to note is the 4-hour RSI which is currently at extremely oversold levels that have not been seen since before the market capitulation in May. This could suggest a possible temporary correction or relief following the recent bloodbath. However, the market is not showing any signs of reversal so far, so we can expect the bearish action to continue.

The key level is $30K, which is also May’s lowest recorded on May 19.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $32.5K, $31,900, $31,185, $30,000, $28,650.

Key Resistance Levels: $33,520, $34,000, $34,760, $36,000, $36,750.

Looking ahead, the first support lies at the mentioned $32.5K support. This is followed by $31,900 (short term downside 1.618 Fib Extension), $31,185 (downside 1.618 Fib Extension & late May support), $30,000, and $28,650.

On the other side, the first resistance now lies at $33,520. This is followed by $34,000, $34,760, $36,000, $36,750 (20-day MA), and $38,000.

As mentioned, the 4-hour RSI is extremely oversold. However, the daily RSI is not near oversold conditions, indicating that the sellers still have room to push BTC lower toward $30,000 before becoming exhausted.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Bitcoin Price Analysis: Consolidation Continues, is a Huge BTC Move Imminent?

Bitcoin’s consolidation continues as it’s trading exactly where it was a week ago. It had made a push higher toward the end of last week but got heavily rejected by the $38-40k zone, where it met resistance at the upper boundary of a symmetrical triangle pattern (as shown below).

From there, BTC headed lower over the weekend, reaching $34,850 on Bitstamp, where it found support at the lower boundary of the same symmetrical triangle pattern. It has since bounced higher and it attempts to reclaim $36,000.

Looking at the short-term chart, bitcoin has penetrated above a short-term symmetrical triangle pattern last week and started to head higher inside an ascending price channel, which turned into a false breakout.

BTC is back beneath this price channel over the weekend but is battling to maintain itself above the longer-term symmetrical triangle. It has been in a phase of consolidation between $32,000 and $40,000 since the market capitulation seen in mid-May. It’s still unclear where BTC would head toward next, but the breakout direction would clarify this.

A breakout above the triangle should allow BTC to face one of the previous all-time highs which turned into solid resistance at $42k. Further above lies the $50,000 milestone.

On the other hand, a breakout below the triangle would see BTC heading toward $30,000, and potentially $27-28k next.

The apex is set for June 14th, and a breakout is likely to take place before it is reached – possibly this week.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $35,700, $35,000, $34,760, $34,000, $33,520.
Key Resistance Levels: $36,750, $38,500, $39,000, $40,000, $40,765.

Looking ahead, the first support lies at the lower boundary of the triangle at around $35,700. This is followed by support at $35,000, $34,760 (downside 1.414 Fib Extension), $34,000, $33,520, and $32,465.

On the other side, the first resistance lies at $36,750. This is followed by $38,500 (upper angle of triangle), $39,000 (last week’s resistance), $40,000, and $40,765 (bearish .382 Fib).

The daily RSI remains in the weak bearish territory as the bears fail to sustain any momentum. Therefore, for a bullish breakout, the RSI must rise past the midline and climb higher to indicate that the bearish momentum is increasing within the market.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Ethereum Price Analysis: ETH Consolidates Around $2.8K But is a Bullish Breakout Inbound?

ETH/USD – Market Continues Consolidation Inside Triangle.

Key Support Levels: $2715, $2600, $2470.
Key Resistance Levels: $2892, $3000, $3135.

ETH is up by a substantial 18% over the week as it trades at around $2800 but still resides inside the ascending triangle pattern. The roof is at $2891 (bearish .382 Fib), and ETH has been stuck here for the past fortnight.

It tested the upper boundary of the triangle last week but failed to overcome it. As a result, ETH headed lower over the weekend to find the support at the lower arm of the triangle at $2600. It has since bounced from this support to trade at $2781.

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ETH/USD Daily Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $2892 (bearish .382 Fib & 50-day MA). This is followed by $3000, $3135 (bearish .5 Fib), and $3380 (bearish .618 Fib).

On the other side, the first support lies at the lower boundary of the triangle at $2715. This is followed by $2600 (20-day MA), $2470 (.382 Fib), and $2400 (100-day MA).

The RSI continues to straddle the midline, indicating indecision within the market. For a breakout toward the upside of the triangle, the RSI must make a higher high above 57 to show increased bullish momentum.

ETH/BTC – ETH Breaks Ascending Triangle Vs. BTC

Key Support Levels: 0.0737 BTC, 0.07 BTC, 0.0664 BTC.
Key Resistance Levels: 0.0769 BTC, 0.08 BTC, 0.082 BTC.

Against bitcoin, ETH finally broke the ascending triangle it was trading inside over the past fortnight. The roof of this pattern was at 0.0737 BTC (bearish .618 Fib), and the market managed to break above the triangle yesterday.

Since breaking above the triangle, ETH pushed higher beyond 0.075 BTC and is now testing resistance at 0.0769 BTC (1.414 Fib Extension).

ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Looking ahead, if the first resistance lies at 0.0769 BTC (1.414 Fib Extension). This is followed by 0.08 BTC, 0.082 BTC (HDC), 0.0838 BTC (1.618 Fib Extension), and 0.0877 BTC (1.414 Fib Extension).

On the other side, the first strong support lies at 0.0737 BTC. This is followed by 0.07 BTC (20-day MA), 0.0664 BTC (.5 Fib), 0.0639 BTC (.618 Fib & 50-day MA), and 0.06 BTC.

The RSI is in the bull’s favor here as it rises beyond the midline. There is still room to push higher before the market becomes overbought, indicating ETH can continue to rise against BTC.

Crypto Price Analysis & Overview June 4th: Bitcoin, Ethereum, Ripple, Cardano, & Solana

We saw another week of relatively choppy price action as the major cryptocurrencies failed to chart any serious gain. On the opposite – with a few exceptions, most of the coins underwater.

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Bitcoin

Bitcoin is down by a total of 4.7% this week and is trading inside an ascending price channel as it battles to remain above the upper boundary at around $36,600.

The cryptocurrency had an interesting week of trading after meeting the resistance at $40,760 (bearish .382 Fib) last week. It headed lower into the weekend until support was found at around $33,520, where it formed a symmetrical triangle pattern.

This triangle was penetrated at the start of June as BTC started to surge higher toward $39,000. It formed an ascending price channel and was unable to overcome the upper boundary of this channel today and has since dropped into the lower boundary.

Looking ahead, if the bears break the current short-term price channel, the first support lies at $36,000. This is followed by $34,760 (downside 1.414 Fib Extension), $34,000, $33,520, and $32,465. Added support lies at $31,185 (downside 1.618 Fib Extension) and $30,000.

On the other side, the first resistance lies at $38,000. This is followed by $39,000 (the upper boundary of the price channel), $40,000, and $40,760 (bearish .382 Fib). Added resistance lies at $42,055 and $44,750.

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BTC/USD 4-Hour Chart. Source: TradingView.

Ethereum

Ethereum is down by a small 3.7% this week as it currently trades at $2650. The cryptocurrency has now formed the making of an ascending triangle pattern with the roof of the triangle at $2890 (bearish .382 Fib & 50-day MA).

The coin started the week by rebounding from the $2200 support (.618 Fib) as it pished higher on Monday to break a falling trend line. Yesterday, ETH continued above $2700 and reached the resistance at $2891 (bearish .382 Fib & 50-day MA) but rolled over from there today to reach the support at the lower triangle angle at $2600.

Looking ahead, if the bears push beneath the triangle at $2600, support is expected at $2470 (.382 Fib), $2333 (.5 Fib & 100-day MA), $2200 (.618 Fib), and $2036 (Feb 2021 highs).

On the other side, the first strong resistance lies at $2800. This is followed by $2891 (bearish .382 Fib & 50-day MA), $3000, $3135 (bearish .5 Fib), and $3380 (bearish .618 Fib).

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ETH/USD Daily Chart. Source: TradingView.

ETH is also trading inside an ascending triangle pattern against BTC, with the roof of the triangle at 0.0737 BTC (bearish .618 Fib Retracement). It started the week by rebounding from support at 0.0648 BTC (.5 Fib).

On Monday, ETH managed to break resistance at the 20-day MA, and it continued higher to reach the upper boundary of the triangle at 0.0737 BTC yesterday. It is still yet to break this resistance and has since dropped into the support at the lower angle today.

Looking ahead, if the bears break beneath the triangle, the first support lies at 0.07 BTC (20-day MA). This is followed by 0.0668 BTC (.382 Fib), 0.0648 BTC (.5 Fib), and 0.0627 BTC (.618 Fib).

On the other side, the first resistance lies at 0.0737 BTC (bearish .618 Fib). Above this triangle, resistance lies at 0.075 BTC, 0.077 BTC (1.414 Fib Extension), 0.08 BTC, and 0.082 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

Ripple

XRP is down a small 2.1% from where it was last week but fell by a steep 11.5% today as it fell beneath the $1.00 level.

XRP is also trading inside an ascending triangle pattern with the roof of the triangle at $1.05. The coin rebound from the 2020 highs at $0.8282 at the start of the week and pushed higher to break $1.00 on Monday.

However, throughout the week, XRP failed to break above the $1.05 (bearish .382 Fib) resistance which is acting as the roof of the triangle and rolled over from there today to hit the support at the lower boundary.

Looking ahead, if the bears break the lower angle at $0.9, the first support lies at $0.8282 (2020 highs). This is followed by $0.8, $0.75 (.786 Fib), and $0.7 (200-day MA).

On the other side, the first resistance now lies at $1.00. This is followed by $1.05 (bearish .382, 20-day MA, & triangle upper boundary), $1.10, and $1.25 (Feb 2018 highs & 50-day MA).

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XRP/USD Daily Chart. Source: TradingView.

Against bitcoin, XRP bounced from the 2400 SAT support at the start of the week and pushed higher into resistance at 2800 SAT (20-day MA).

It did attempt to break this resistance but could not close a daily candle above it throughout the week. It has been slowly falling over the past three days and dropped beneath 2600 SAT and the 50-day MA today.

Moving forward, the first support lies at 2400 SAT. This is followed by 2260 SAT (.785 Fib), 2200 SAT, 2000 SAT, and 1900 SAT (July 2020 low & 100-day MA).

Alternatively, the first resistance lies at 2600 SAT (50-day MA). This is followed by 2700 SAT (20-day MA0, 2800 SAT, and 3000 SAT (bearish .618 Fib).

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XRP/BTC Daily Chart. Source: TradingView.

Cardano

ADA saw a small 2.1% price hike this week as it currently trades at $1.70 (20-day MA). The coin found strong support at $1.40 (.5 Fib) at the start of the week and started to push higher.

Yesterday, ADA managed to penetrate last week’s resistance at $1.80 (bearish .618 Fib) and spiked as high as $1.90. Unfortunately, today’s BTC price drop caused ADA to fall back beneath this support and spike as low as $1.60. It has since recovered back above the 20-day MA.

Moving forward, if the bears break beneath the 20-day MA, the first support lies at $1.60. This is followed by $1.52 (.382 Fib & 50-day MA0, $1.40 (.5 Fib), and $1.35 (100-day MA).

On the other side, the first resistance lies at $1.80 (bearush .618 Fib). This is followed by $1.90, $2.00 (bearish .786 Fib), and $2.15 (bearish .886 Fib).

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ADA/USD Daily Chart. Source: TradingView.

Against BTC, ADA bounced from support at 4000 SAT over the weekend and went on to break above a symmetrical triangle pattern through the week as the price pushed above 4500 SAT.

From there, ADA continued higher to test resistance at 4900 SAT (1.618 Fib Extension) but could not overcome it. Today, ADA has since dropped back into the 4570 SAT support which had previously provided resistance for the market.

Looking ahead, if the bears break 4500 SAT, the first support lies at 4400 (20-day MA). This is followed by 4200 SAT (short term .382 Fib), 4000 SAT, and 3760 SAT (.382 Fib).

On the other side, the first strong resistance lies at 4900 SAT (1.618 Fib Extension). This is followed by 5000 SAT, 5200 SAT, 5500 SAT, and 5910 SAT (1.272 Fib Extension).

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ADA/BTC Daily Chart. Source: TradingView.

Solana

SOL saw a strong 7.5% price hike this week as the coin reached as high as $41.43. It started the week by rebounding at $28, where it found support at the 100-day MA.

Over the course of the week, SOL continued higher and eventually broke the 50-day MA yesterday to reach as high as $41.43. There, it found resistance at a bearish .5 Fib Retracement and has since dropped lower to $36.30 (.236 Fib).

Moving forward, the first support beneath $36.30 lies at $33 (.382 Fib). This is followed by $30.36 (.5 Fib), $27.71 (.618 Fib & 100-day MA), and $24.55.

On the other side, the first resistance lies at $38 (50-day MA). This is followed by $40, $41.43 (bearish .5 Fib), $44, and $45.40 (bearish .618 Fib).

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SOL/USD Daily Chart. Source: TradingView.

Against BTC, SOL bounced from support at 80,000 SAT (.618 Fib) at the start of the week. It managed to break resistance at the 20-day MA yesterday and continued to push higher to reach as high as 107,000 SAT.

It has since dropped to trade at 100,000 SAT today.

Looking ahead, the first support beneath 100,000 SAT lies at 96,400 SAT(.236 Fib). This is followed by 90,000 SAT (.382 Fib & 20-day MA), 84,200 SAT (.5 Fib), and 80,000 SAT.

On the other side, the first resistance lies at 107,000 SAT (bearish .618 Fib). This is followed by 119,500 SAT (bearish .786 Fib), 131,870 SAT (1.414 Fib Extension), and 140,000 SAT.

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SOL/BTC Daily Chart. Source: TradingView.

Bitcoin Price Analysis: Following The Breakout, BTC Now Facing Huge Resistance Zone

Bitcoin is up by a solid 5% today as it spiked as high as $39,500 and reached the 20-day moving average line, before getting rejected shortly after. Despite this, bitcoin had made another bullish step towards a retest and a possible breakout of the critical $40-42k demand zone.

In addition, the cryptocurrency had been trading inside a symmetrical triangle pattern over the past week since rejecting sharply from the resistance at $40,760 (bearish .382 Fib & 200-day MA) last week. From there, it went on to drop lower but found support around $34,000 over the weekend, where it rebounded.

The breakout of the symmetrical triangle pattern occurred yesterday as BTC surged to $38,000. Today, the 5% price spike allowed BTC to break $38,000 and reach as high as $39,500 (daily high as of now).

Since breaking the upper boundary of the triangle, BTC has now established a short-term ascending price channel and is testing the upper line of the channel. A breakout would allow BTC to break $40,000 and test last week’s resistance at $40,000. However, as mentioned above, Bitcoin marked $40-42k as the most critical zone on its way up and is still trading over 40% beneath its all-time high level of nearly $65k which was recorded on April 14, 2021.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $38,000, $36,700, $36,000, $34,760, $34,000.

Key Resistance Levels: $38,900, $40,000, $40,760, $41,475,$42,055.

Looking ahead, the first resistance lies at $38,900 (20-day MA & upper boundary of short-term price channel). This is followed by $40,000, $40,763 (bearish .382 Fib Retracement), $41,475 (200-day MA), $42,055 (Jan 2021 highs), and $44,750.

On the other side, the first support lies at $38,000. This is followed by $36,700 (lower boundary of the price channel), $36,000, $34,760 (downside 1.414 Fib Extension), $34,000, and $33,520.

The daily RSI has poked back above the midline to indicate bullish momentum is starting to creep back into the market. This is the first time the RSI has been bullish since May 9th, before the massive market capitulation occurred.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView.

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView.

Cardano Price Analysis: ADA Breaks Crucial $1.80 Resistance And Sets Sights At $2

ADA/USD – ADA Breaks Crucial $1.80 Resistance

Key Support Levels: $1.80, $1.71, $1.60/
Key Resistance Levels: $2.00, $2.15, $2.30.

ADA found support at $1.40 (.5 Fib) over the weekend and rebounded higher. On Monday, it broke above a descending trend line and climbed above the 20-day MA. It was trying to break resistance at $1.80 (bearish .618 Fib) over the past three days but failed to close a daily candle above the level until today.

The resistance at $1.80 stalled the market last week, and if today’s candle can close above, it should set the scene for another bullish leg higher toward $2.00.

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ADA/USD Daily Chart. Source: TradingView.

ADA-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $2.00 (bearish .786 Fib). This is followed by $2.15 (bearish .886 Fib), $2.30 (ATH-day closing price), and $2.52 (ATH).

On the other side, the first support lies at $1.80. This is followed by $1.71 (20-day MA), $1.60, and $1.50 (50-day MA).

The RSI is above the midline and is starting to climb higher, indicating that the bullish momentum is on the rise. The increased bullish momentum should certainly help ADA reach the $2.00 level.

ADA/BTC – ADA Targets ATH At 5000 SAT

Key Support Levels: 4900 SAT, 5000 SAT, 5500 SAT.
Key Resistance Levels: 4740 SAT, 4375 SAt, 4000 SAT.

Against bitcoin, ADA is performing well this week after rebounding from the weekend support at 4000 SAT and breaking the upper angle of a symmetrical triangle at 4500 SAT.

Since then, ADA managed to scratch 4900 SAT (1.618 Fib Extension) yesterday and is range-bound between this resistance at 4570 SAT. A break above 4900 SAT should certainly allow ADA to test and break the previous ATH at 5000 SAT.

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ADA/BTC Daily Chart. Source: TradingView.

ADA-BTC Short Term Price Prediction

Moving forward, the first resistance lies at 4900 SAT (1.618 Fib Extension). This is followed by 5000 SAT (ATH). Beyond the ATH, resistance is expected at 5500 SAT, 5910 SAT (1.272 Fib Extension), 6000 SAT, and 6363 SAT (1.414 Fib Extension).

On the other side, the first support lies at 4740 SAT. This is followed by 4375 ST (20-day MA), 4000 SAT, and 3760 SAT (.382 Fib).

The RSI is also climbing here as the bulls start to gain some momentum. There is still plenty of room for the RSI to push higher before the market becomes overbought, indicating this is just the start of this bullish leg.

Ethereum Price Analysis: Following a 6% Daily Surge, ETH Now Prepares for $3K

ETH/USD – Bulls Need To Break $2892 Resistance Before $3000.

Key Support Levels: $2800, $2740, $2600.
Key Resistance Levels: $2892, $3000, $3135.

ETH is looking healthy today with a 5.5% surge allowing it to break this week’s resistance at $2740. The coin had bounced from $2200 at the start of the week and began to push higher. On Monday, it managed to break $2600 and climb above a descending trend line to reach the $2740 resistance.

Today’s 5.5% price hike also allowed ETH to break back above the 20-day MA level for the first time since the May market capitulation started. Resistance at $2892 (50-day MA) still needs to be broken before ETH can hit $3000 and resume its bull run.

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ETH/USD Daily Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $2892 (bearish .382 Fib & 50-day MA). This is followed by $3000, $3135 (bearish .5 Fib), and $3380 (bearish .618 Fib).

On the other side, the first support lies at $2800. This is followed by $2740, $2600, $2470 (.382 Fib), and $2333 (.5 Fib & 100-day MA).

The RSI recently poked above the midline, indicating that the bulls are trying to increase their momentum. This is the first time the RSI has turned bullish since the industry-wide capitulation seen in May.

ETH/BTC – ETH Trading Inside Ascending Triangle.

Key Support Levels: 0.07 BTC, 0.067 BTC, 0.0648 BTC.
Key Resistance Levels: 0.0737 BTC, 0.075 BTC, 0.0769 BTC.

Ethereum is also performing well against BTC but still needs to break beyond 0.0737 BTC to really take off. The resistance forms the roof of the current ascending triangle that it is trading within, and the market was rejected at this level last week.

Over the weekend, ETH found solid support at 0.065 BTC (.5 Fib Retracement) and rebounded higher to break above the 20-day MA on Monday. It is now edging to the roof of the triangle, and a breakout should allow the coin to return to the May highs at 0.082 BTC.

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ETH/BTC Daily Chart. Source: TradingView.

ETH-BTC Short Term Price Prediction

Looking ahead, if the first resistance lies at 0.0737 BTC (bearish .618 Fib). This is followed by 0.075 BTC, 0.0769 BTC (1.414 Fib Extension), and 0.08 BTC.

On the other side, the first support now lies at 0.07 BTC (20-day MA). This is followed by 0.067 BTC, 0.0648 BTC (.5 Fib), and 0.0627 BTC (.618 Fib).

The RSI is within bullish territory but needs to continue beyond the 60 level to create a higher high and indicate that the bullish momentum is increasing.

Ripple Price Analysis: XRP Looking At $1.10 following a 6% Weekly Increase, Can it Go Higher?

XRP/USD – A Break Above $1.05 Could See Bullish Leg Higher

Key Support Levels: $1.00, $0.95, $0.8282.
Key Resistance Levels: $1.05, $1.10, $1.25.

XRP found support at the 2020 highs of $0.8282 over the weekend and rebounded higher to break above $1.00. It is now struggling to close a daily candle above $1.05 (bearish .382 Fib), but the bulls are battling to remain above $1.00.

The resistance at $1.05 is starting to form an ascending triangle with the roof at $1.05. A closing candle above $1.05 (and $1.10) could set the stage for a bullish leg higher toward $1.30 (50-day MA) for XRP.

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XRP/USD Daily Chart. Source: TradingView.

XRP-USD Short Term Price Prediction

Looking ahead, if the bulls break $1.05, the first resistance lies at $1.10 (20-day MA). This is followed by $1.25 (Feb 2018 highs), $1.30 (bearish .618 Fib & 50-day MA), and $1.52 (bearish .786 Fib).

On the other side, the first support lies at $1. This is followed by $0.95 (100-day MA), $0.8282 (Feb 2020 highs), and $0.75 (.786 Fib).

The RSI is now directly on the midline, indicating indecision within the market. For a breakout of the current ascending triangle, the RSI must break above 50 to indicate bullish momentum is returning to the market.

XRP/BTC – Bulls Battle With 20-day MA

Key Support Levels: 2660 SAT, 2400 SAT, 2260 SAT.
Key Resistance Levels: 2800 SAT, 3000 SAT, 3360 SAT.

Against BTC, XRP is now in a battle with the 20-day MA at around 2800 SAT. The coin found support at 2400 SAT over the weekend and started to rebound higher.

On Monday, XRP managed to climb above resistance at 2600 SAT (50-day MA & bearish .382 Fib), and it continued higher to 2800 SAT. Since then, it has struggled to close a daily candle above 2800 SAT.

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XRP/BTC Daily Chart. Source: TradingView.

XRP-BTC Short Term Price Prediction

Looking ahead, if the bulls break 2800 SAT, the first resistance lies at 3000 SAT (bearish .618 Fib). This is followed by 3360 SAT (Feb 2020 high), 3783 SAT (Oct 2019 highs), and 4000 SAT.

On the other side, the first support lies at 2660 SAT (50-day MA). This is followed by 2400 SAT, 2260 SAT (.786 Fib), and 2000 SAT.

The RSI is showing weak bullish momentum. To pass 2800 SAT, the RSI must rise to indicate the bullish momentum is starting to gain solid control.

Bitcoin Price Analysis: BTC Rejected Sharply, Still In Anticipation of a Breakout Soon

Bitcoin is down by a sharp 3% over the past 24 hours.

The cryptocurrency bounced from $31,185 (downside 1.618 Fib Extension) last week but failed to overcome resistance at $40,765 (bearish .382 Fib & 200-day MA).

From there, BTC headed lower into the weekend but sustained support at $34,760 after spiking as low as $33,520. The daily chart looks pretty choppy, but the short-term 4-hour chart provides a clear symmetrical triangle pattern forming.

Yesterday, BTC bounced from the lower boundary of this triangle and reached the upper angle ($38K). The price was rejected at the upper angle and started to head lower from there. The market is now attempting to defend support of around $36,000 – provided by a short-term .5 Fib level.

A breakout of this short-term triangle will dictate the next direction for the market. A break toward the downside is likely to see BTC retesting $30,000 again, with a break toward the upside should set the stage for a recovery back above $40,000. We won’t have to wait long for this triangle to be resolved as the apex is set for June 3rd and the breakout typically occurs prior to the apex.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $35,100, $34,760, $34,000, $33,250, $32,465.
Key Resistance Levels: $37,200, $38,000, $40,000, $40,765, $41,200.

Looking ahead, the first support lies at $35,100 (lower angle of the the triangle. This is followed by $34,760 (downside 1.414 Fib Extension), $34,000, $33,250, and $32,465. Additional support lies at $32,000 and $31,185 (downside 1.618 Fib Extension).

On the other side, the first resistance lies at $37,200 (upper angle of the triangle). This is followed by $38,000, $40,000 (20-day MA), $40,765 (bearish .382 Fib), $41,200 (200-day MA), and $42,000 – which is the most critical level for the midterm.

The daily RSI remains sluggish as it sits in bearish territory. It is rising and created a higher high recently. However, it seems as if the bulls are still unable to create any form of sustained momentum just yet.

Bitstamp BTC/USD Daily Chart

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BTC/USD 1D. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4H. Source: TradingView