Strong investors know how to wait out bear markets, and the most patient ones enjoy the most benefits when the bulls start taking over the market. However, there are a lot of retail investors who get influenced by wild forecasts and sell before the market peaks. So, how is the market doing today?
Price Analysis for the Top 4 Cryptocurrencies
Bitcoin (BTC) Price Analysis
Over the last three days, Bitcoin has been inside the June 14 intraday range. However, the price may break out of this tight range soon. If the Bitcoin to USD pair stays above the $6,715 level, it may defeat the 20-day EMA. The relative strength index is moving to the negative area, and the two moving averages are moving downward as well. An extended position may be possible if there is a breakout above downtrend line. The downward stop will be at $6,000.
Ethereum (ETH) Price Analysis
Ether has managed to recover from its June 13 lows of $450.1 indicating an outperformance short-term. If the bulls break the descending channel, they will be preparing for a positive break. This will confirm a likely change in the trend. The price will rally to $628.99 and eventually cross the resistance and get to $700. The overall sentiment is negative for now.
Ripple (XRP) Price Analysis
Ripple has found support in the $0.5 level. After this level, the next support level will be $0.45351. The Bulls will defend this zone with everything they have with support zones at $0.5 and $0.45351. If the zone breaks, the next level will be below $0.24.
Bitcoin Cash (BCH) Price Analysis
Bitcoin Cash was able to find support at the June 13 intraday lows. Pullbacks will face some resistance at the downtrend. The pair may enter some trading ranges before it breaks down from it. The change in trend will start when there is a breakout of the 20-day EMA.
The next few trading sessions will determine the short-term value of the top four coins.