Price analysis 6/16: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH

Bitcoin's cost (BTC) turned down from just in a higher place the $41,000 mark on June 15, suggesting that traders are halting their purchases at higher levels. Traders seem to be hesitant to take big bets until the U.Southward. Federal Reserve releases its latest economic projections and the timeline of the proposed rate hikes today.

Nevertheless, Jurrien Timmer, the director of global macro at Fidelity Investments believes that Bitcoin has bottomed out.

Another positive sign comes from a Q2 retail investment survey of high-frequency traders by the crypto firm Voyager Digital that shows 81% of the participants are confident about the future of cryptocurrency.

*Daily cryptocurrency market performance. Source:* *Coin360*

Another survey of 100 main fiscal officers at hedge funds by Intertrust Global shows that about 98% of the respondents expect hedge funds to invest seven.2% of their assets in cryptocurrencies by 2026.

Related: Inside five years, US hedge funds await to concord 10.6% of assets in crypto

Given that there are large amounts of funds set to period into cryptocurrencies, another massive fall is unlikely. However, that does non mean a new balderdash marketplace will starting time in a hurry. Most major cryptocurrencies may enter a bottoming germination before starting the next trending move.

Let'due south analyze the charts of the top-10 cryptocurrencies to make up one's mind the critical levels to watch out for.

BTC/USDT

Bitcoin has been sustaining above the 20-twenty-four hour period exponential moving average ($38,274) for the past three days simply the bulls have not been able to thrust the price above the 200-24-hour interval uncomplicated moving average ($42,678). This suggests a lack of need at higher levels.

The flattish 20-day EMA and the relative strength alphabetize (RSI) near the midpoint suggest a balance between supply and demand. If bears pull the price below the 20-24-hour interval EMA, the BTC/USDT pair could drib to $31,000 where buying may emerge.

A strong rebound off $31,000 will betoken that the pair may extend its consolidation for a few more than days.

This neutral view will invalidate if the cost rebounds off the current level and buyers drive the price higher up the 200-day SMA. Such a move will exist the first sign that the correction may be over. If bulls sustain the price above the 200-day SMA for 3 days, the pair could rally to $51,483.

Alternatively, a break below $31,000 will suggest that bears take overpowered the bulls and the downtrend may resume.

ETH/USDT

Ether (ETH) has been trading inside a symmetrical triangle for the by few days, indicating indecision among the bulls and the bears. The bulls are buying well-nigh the support line of the triangle while the bears are selling near the resistance line.

A suspension above or below the triangle may outcome in a strong trending move but it is difficult to predict the direction of the breakout with certainty.

If bulls push and sustain the price higher up the resistance line of the triangle, it will indicate that the correction may be over. The ETH/USDT pair could then rally toward its design target at $three,684.

Conversely, if bears sink the price beneath the support line, the downtrend may resume. The bulls will endeavour to stall the decline at the 200-day SMA ($1,831) but if this support also cracks, the next target objective is $i,347.

BNB/USDT

Binance Money (BNB) has been stuck between the trendline and the xx-solar day EMA ($372) for the past few days. The gradually downsloping 20-day EMA and the RSI beneath 44 suggest that bears accept the upper hand.

If bears sink the toll beneath the trendline, the BNB/USDT pair could drop to the 200-day SMA ($253). A break and shut below this support could intensify the selling, and the pair could extend the decline to $200.

On the contrary, if the bulls push the price in a higher place the 20-day EMA, the pair could challenge the overhead resistance at $433. A breakout and close above this level volition complete a bullish ascending triangle pattern, which has a target objective at $609.

ADA/USDT

Cardano (ADA) has been trading between $i.33 and $94 for the past few days. The altcoin rebounded off the support on June 12 only the bulls are struggling to push the price above the 20-twenty-four hour period EMA ($one.58).

The gradually downsloping xx-day EMA and the RSI merely beneath the midpoint advise a minor advantage to the bears. If the price turns downward from the current level, the bears volition again try to sink the ADA/USDT pair below $1.33.

If they succeed, the pair could drop to the next critical back up at $i. The bulls are likely to defend this level aggressively. A strong rebound off this support will suggest that the pair may consolidate within the large range of $one and $1.94 for a few days.

Conversely, if buyers bulldoze the price to a higher place the 20-twenty-four hour period EMA, the pair could rally to $ane.94. A breakout of this resistance will increase the possibility of the start of the next leg of the uptrend.

DOGE/USDT

Dogecoin (DOGE) has been trading beneath the 20-24-hour interval EMA ($0.34) for the by few days just the bears have non been able to sink the price beneath the neckline of the caput and shoulders design. This suggests a lack of sellers at lower levels.

However, the 20-twenty-four hour period EMA is sloping downward and the RSI is in the negative territory, indicating the path of least resistance is to the downside. The bears will make one more than attempt to sink and sustain the price below the neckline.

If they succeed, the DOGE/USDT pair could beginning its downward journey to the critical support at $0.21 so to the 200-mean solar day SMA ($0.14). This negative view will invalidate if the bulls push and sustain the price to a higher place the 20-day EMA.

XRP/USDT

XRP has been trading between $1.07 and $0.75 for the past few days. The failure of the bulls to push the cost higher up the twenty-day EMA ($0.93) in the by few days suggests a lack of demand at college levels.

The bears will now endeavour to pull the price down to the back up at $0.75. The 200-day SMA ($0.72) is just below the back up, hence the bulls are likely to defend this level aggressively.

However, if the selling intensifies and bears sink the cost below the 200-day SMA, the XRP/USDT pair could kickoff a deeper turn down to $0.56.

On the other hand, if the bulls button the price above the xx-day EMA, the pair could rally to $one.07. A breakout and close above this resistance volition indicate the downtrend may exist over. The pair could then rally to the downtrend line.

DOT/USDT

Polkadot (DOT) rose to the resistance line of the symmetrical triangle on June xiv merely the bulls could non thrust the cost above it. This suggests that the bears have not given up yet and are selling on rallies to the resistance line.

If bears sink the price below the 20-day EMA ($23), the DOT/USDT pair could extend its stay inside the symmetrical triangle for a few more days. The flat moving averages and the RSI simply below the midpoint also signals a few days of consolidation.

A breakout and close higher up the triangle will be the first indication that the correction may exist over. The pair may then rally to $31.28 so to the blueprint target at $39.78. Conversely, if bears sink the price below the support line, the pair may start the next leg of the downtrend that may open the doors for a turn down to $15.

UNI/USDT

Uniswap (UNI) turned downwardly from the 20-day EMA ($24.79) on June xv, which suggests the sentiment remains negative and the bears are selling on rallies to overhead resistances.

The sellers volition now try to pull the toll below the 200-twenty-four hour period SMA ($21.87). If they manage to do that, the UNI/USDT pair could drib to $16.49 and then $13.04 every bit traders who have purchased in the past few days may rush to the exit.

Alternatively, if the cost rebounds off the 200-day SMA, the buyers will effort to propel the price above the 20-mean solar day EMA. If they succeed, the pair may rally to $30.

If the price turns down from this level, the pair may remain range-bound between $21.fifty and $30 for a few more days. A breakout and close to a higher place $30 volition suggest that the correction may exist over.

LTC/USDT

Litecoin (LTC) turned down from the twenty-twenty-four hour period EMA ($180) on June 15, which shows that bears are selling on rallies. The xx-twenty-four hours EMA continues to slope downward and the RSI is in the negative territory, indicating an advantage to the bears.

The sellers volition now attempt to sink the price below the support line. If they practise that, the LTC/USDT pair could retest the May 23 low at $118.03. A break beneath this level could upshot in panic selling that may drag the price down to $seventy.

Reverse to this assumption, if the price rebounds off the support line, the bulls will again try to thrust the price above the moving averages. If they succeed, the pair could rise to $225. A pause higher up this resistance could concenter buyers.

BCH/USDT

The bulls could not propel Bitcoin Cash (BCH) above the downtrend line for the past 2 days, indicating that bears are defending the twenty-solar day EMA ($662) aggressively.

The bears will now try to sustain the cost beneath the 200-24-hour interval SMA ($603) and challenge the $538.11 support. This is an of import level to watch out for because if information technology cracks, the descending triangle will complete and the BCH/USDT pair could resume its down motility.

The side by side back up on the downside is at $400 and so $370. Conversely, if bulls thrust the price above the 20-day EMA, the pair could rising to $864.28 where the bears may again mount a stiff resistance.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves take a chance. You lot should acquit your own inquiry when making a decision.

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