Crypto Price Analysis June 24: BTC, ETH, LTC, BCH, EOS

Crypto Price Analysis June 24: BTC, ETH, LTC, BCH, EOS

Many property are caught inside their respective Triangle patterns. Moreover, bulls haven’t been in a position to break the closest resistance ranges and proceed pushing cryptoassets upwards.

Dmitriy Gurkovskiy, a senior analyst at international change dealer RoboForex, offers his imaginative and prescient of the doable tendencies in worth modifications for Bitcoin in addition to for different main cryptos.

The unwillingness of the cryptocurrency market to maneuver upwards might point out a robust bearish stress however to substantiate an additional decline, sellers should break the closest assist areas. If BTC/USD falls decrease $8,500, it could proceed buying and selling downwards to succeed in $6,300. Of course, such a motion might lead to an additional downtrend of your entire cryptomarket, that’s why in the intervening time there are severe dangers of a robust descending motion.

Bitcoin

As we are able to see within the each day chart, Bitcoin continues buying and selling beneath an essential resistance degree, a breakout of which is able to point out additional progress. However, so long as the worth is transferring under this degree, one shouldn’t exclude the potential for an additional decline in the direction of the subsequent important assist space at $6,320. Another sign in favor of this concept is a check of a fast resistance line on the RSI. To verify an additional decline, BTC/USD should break the draw back border of the Bollinger Bands indicator and repair under $8,500. Still, this situation might now not be legitimate if the asset breaks the resistance degree and fixes above $10,635. In this case, the instrument might proceed buying and selling upwards with the primary goal at $11,900.

Photo: RoboForex / TradingView

In the H4 chart, BTC/USD is caught inside one other Triangle sample. Also, there was a rebound from the descending resistance line on the RSI. There is a possible for a check of the sample’s upside border and an additional decline in the direction of $8,135. To verify this concept, the pair should break the closest assist space and repair under $9,025. However, this situation could also be canceled if the worth breaks the sample’s upside border and fixes above $9,995. In this case, the asset might begin finishing the sample in an upward course.

Photo: RoboForex / TradingView

Ethereum

In the each day chart, Ethereum continues testing the descending channel’s upside border. If ETH/USD breaks $255 and fixes above it, the asset might proceed rising to succeed in $287. However, one other sign in favor of an additional decline in the direction of $220 might be a rebound from the resistance line on the RSI. As we are able to see, the earlier check of the resistance line was adopted by a robust decline, after which the worth managed to return to the upside border of the Bollinger Bands indicator. Such a motion signifies severe bullish stress.

Photo: RoboForex / TradingView

On shorter timeframes, ETH/USD is rising contained in the rising channel; it has virtually left the descending correctional channel, thus indicating a possible check of $253. At the second of the check, the RSI indicator might face the resistance from the trendline, which can lead to a robust rebound to the draw back with the primary goal at $221. However, the bearish situation might now not be legitimate if the pair continues rising and fixes above $260. After that, the instrument may have no different choices aside from additional progress with the goal at $300.

Photo: RoboForex / TradingView

Litecoin

As we are able to see within the each day chart, Litecoin continues to be buying and selling sideways; proper now, the asset is transferring under the center band of the Bollinger Bands indicator and nonetheless attempting to rebound from it. Such a motion signifies a bearish stress, that’s why one shouldn’t exclude the likelihood that LTC/USD might break the draw back border of a Triangle sample and fall in the direction of $23. To verify this concept, the pair should break the assist space and repair under $38. However, this situation might now not be legitimate if the worth breaks the sample’s upside border and fixes above $51. In this case, the instrument might develop to succeed in the goal at $68.

Photo: RoboForex / TradingView

In the H4 chart, there’s a potential for the formation of a Head & Shoulders reversal sample. As we are able to see, LTC/USD is predicted to finish the fitting Shoulder at $46 after which begin a major decline in the direction of $38 and even deeper. Another sign in favor of this concept might be a check of the resistance line on the RSI. To verify this situation, the pair should break the neckline and repair under $41. However, the bearish situation could also be canceled if the asset breaks $51. Many merchants imagine that on this case, the worth might full the sample in an upward course, so they’re ready for additional progress.

Photo: RoboForex / TradingView

Bitcoin Cash

In the each day chart, Bitcoin Cash is transferring under the center band of the Bollinger Bands indicator, which suggests a robust bearish stress. The cryptocurrency continues to be caught inside a Triangle sample. The key buying and selling thought implies a breakout of the sample’s draw back border and an additional decline in the direction of $136. A sign in favor of this situation might be a rebound from the resistance line on the RSI. However, this situation might now not be legitimate if the worth breaks the sample’s upside border and fixes above $280. After that, the instrument might proceed buying and selling upwards with the goal at $356.

Photo: RoboForex / TradingView

As we are able to see within the H4 chart, the asset has rebounded from the descending trendline, which is close to the closest resistance degree. There is a possible for an additional decline in the direction of $223, a breakout of which can point out a motion with the goal at $211. A sign in favor of this concept is a rebound from the resistance line on the RSI. However, the worth might but commerce upwards however solely after breaking the descending channel’s upside border at $250. In this case, the instrument might proceed rising to succeed in $263 after which $280.

Photo: RoboForex / TradingView

EOS

As we are able to see within the each day chart, EOS continues to be transferring inside a Triangle sample. A powerful sign in favor of an additional downtrend and a breakout of the sample’s draw back border is a check of the trendline on the RSI. To verify this concept, the asset should break $2.24 – on this case, it could proceed falling in the direction of $1.32. However, the bearish situation might now not be legitimate if the cryptocurrency breaks the resistance degree and fixes above $3.16. After that, the instrument might break the sample’s upside border and proceed buying and selling upwards to succeed in $4.10.

Photo: RoboForex / TradingView

In the H4 chart, the cryptoassets has additionally examined the sample’s upside border. In addition to that, we are able to see a rebound from the descending trendline on the RSI, which is a robust sign in favor of an additional decline in the direction of $2.43. If the worth breaks this degree, it could begin finishing the sample and fall in the direction of $2.24. Still, the bearish situation could also be canceled if the asset breaks $2.65. In this case, the instrument might proceed buying and selling upwards with the goal at $2.91.

Photo: RoboForex / TradingView

Disclaimer: Any predictions contained herein are based mostly on the authors’ explicit opinion. This evaluation shall not be handled as buying and selling recommendation. RoboForex shall not be held answerable for the outcomes of the trades arising from relying upon buying and selling suggestions and critiques contained herein.

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