BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin has finally picked up an increasing price momentum forming an ascending triangle. This is a great bullish sign for traders and investors as they expect volatility to advance in the next few days. The bulls have successfully pushed BTC above both its moving averages, 50-day MA and 20-day EMA, and also above the basis (middle line) of Bollinger Bands. BTC made a high of $9795 just near the resistance zone of $10K on Monday, 22nd June 2020. The bulls bought the dip from a low of $9285 and closed the day's candle at $9697 yesterday. Bitcoin is currently trading in the upper half of the Bollinger Bands.
Key points to watch out for:
If bulls maintain this increasing price momentum, we can expect BTC to retest $10,000 soon, followed by $10,500 resistance before rallying towards $12,000.
If bears take over, the first support will be tested at the trendline of the ascending triangle at $9000. A decline below it will increase the selling pressure.
Indicators
MACD has reduced its deceleration a lot with the MACD line sloping up trying to cross the signal line above 0 level. RSI has sloped up above the midpoint at 55.5 indicating a bullish divergence.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum has also become bullish just like Bitcoin. The bulls have pushed the price back to the upper half of Bollinger Bands breaking through the $239 resistance level. Ether made a high of $247 just below the $250 resistance range and closed at $243 on Monday, 22nd June 2020. The bulls did not let it fall below the low of $227 yesterday. The largest altcoin has come back in demand again by traders and investors.
Key points watch out for:
If bulls maintain this increasing momentum, ETH will retest $250 followed $253, and then aim for $266.
If bears take over, ETH's 50-day moving average (MA) support will be tested. If the price declines below $200, ETH will fall to $196 and $176 at lower levels.
Indicators
MACD has reduced its deceleration pretty much and has sloped up above the 0 level. RSI shows great bullish divergence just below 60 by sloping up at 59 level.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple is trading inside the symmetrical triangle taking the support of the triangle's support line. After $2 billion crypto theft of the PlusToken scam, millions of Ripples were sent to exchanges which impose a threat of price crash. The bulls are trying their best to not let XRP fall out below the symmetrical triangle. The bulls made a high of $0.19 and closed at $0.189 on Monday, 22nd June 2020, with a low of $0.185 at the triangle's support line. As the crypto markets recover, Ripple remains weak with a lot of resistance levels on its way. Bulls need to increase some more momentum to bring Ripple to the upside.
Key points to watch out for:
If bulls can push XRP above its 20-day exponential moving average (EMA) at $0.193, the next resistance level will be tested at the basis of Bollinger Bands at $0.195, followed by its 50-day MA at $0.2 level. Only if XRP breaks above the downtrend line of the symmetrical triangle, we can expect a bull rally.
If bears takeover and XRP falls below the symmetrical triangle, it will test $0.184, followed by $0.182 support. If the psychological support of $0.18 is broken, XRP will go in the downside.
Indicators
MACD has a reduced deceleration with the MACD line below both the signal line and 0 level. RSI is correcting itself sloping up at 43 indicating bulls are trying to increase the momentum.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin stays clutched between the support line of Bollinger Bands and the moving averages and is still trading in the lower half of Bollinger Bands. But the bulls have pushed its price above its 20-day exponential moving average (EMA) just touching its 50-day moving average (MA). LTC made a high of $44.7 and closed at $44.3 on Monday, 22nd June 2020. Bulls did not let the price fall below $42.9 yesterday. Bulls need to aggressively push LTC above the basis to the upper half of Bollinger Bands to witness an upside, otherwise, the lower BB range will continue for few more days.
Key points to watch out for:
If bulls are able to push LTC above its 50-day MA at $44.7, it will test the basis of BB at $45, followed by the next resistance level of $47. If this level is crossed, we can expect LTC to test $51 on the upside.
If bears takeover and push LTC below the BB at $42, it will go down to test $39 on the downside.
Indicators
MACD has reduced its deceleration with the MACD line slightly sloping up towards the signal line, but still below the 0 level. RSI has sloped up and is standing at 49, indicating bulls are trying to increase the momentum.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash has been trading in the lower half of Bollinger Bands for almost 2 weeks. But the bulls have taken its price 5% up and broke above both its moving averages, 20-day EMA and 50-day MA, just below the basis line. BCH made a high of $248.9 and closed at $241 on Monday, 22nd June 2020. Bulls bought the dip from a low of $230 yesterday. Bulls need to increasing this rising momentum and get back BCH to the upper half of BB to witness the upside. Traders and investors closely watch out for the $255 - $258 zone which is acting as important resistance, as seen in the daily chart below.
Key points to watch out for:
If bulls successfully push BCH above the basis line at $244, we can expect it to test the $255 - $258 resistance range, before rallying up towards $280.
If bears takeover and push BCH below the BB support, we can expect it to test the $217 support level, before declining further below to $200.
Indicators
MACD has slightly reduced its deceleration with the MACD line sloping up nearing the signal line but still below the 0 level, indicating the bearish momentum has decreased. RSI has sloped up at the midpoint at 50 indicating bulls have an upper hand.
