According to the price analysis, all the digital currencies have initiated a recovery trend. According to the latest news, Brian Kelly declared that Bitcoin, despite the drop in prices is more popular than Beyoncé. JD finance will be involved in offering Asset-based securities in Blockchain technology. In other news, it is believed that tether manipulation was the cause of the upside in Bitcoin prices. Ripple stated that Blockchain implementation in banking might be unlikely.
Therefore, let’s discuss the cryptocurrency prices in the price analysis.
Bitcoin has in the last few days during this week been experiencing a downward trend. This saw it drop significantly from the $7,634 price level to the $6,301 level in just a few days. However, on June 14, an upside was initiated and Bitcoin has rallied slightly to the $6,700 price level.
According to the statistics, Bitcoin has adopted an upside trend from the recent downside. We, therefore, expect the $6,800 and the $7,000 price levels. On the other hand, dropping below the $6,400 price level might attract losses for the investors.
Support level: $6,400
Resistance level: $6,800
Ethereum experienced a downside in the entire week and this saw it drop to the $460 low from the $600 price level. However, as per the current analysis, Ethereum was involved in a rally from June 14 and now is trading at the $516 price level. This is a slight improvement from the previous low.
Since the bullish trend seems to have resumed, Ethereum is expected to resume the upside to the $550 and the $570 price levels. On the downside, dropping below the $500 price level might attract losses.
Support level: $500
Resistance level: $550
Bitcoin cash BCH
From the weeks start, bitcoin cash has been involved in a downside. Therefore, this bearish trend subjected bitcoin cash to the $822 from the $1,100 level. Currently, an upside has been witnessed from June 14 which has pushed the prices slightly to the$894 price level.
Since an upside seems to have resumed, the $900 price level is possible with positive market conditions. On the other hand, dropping below the $850 price level might attract losses for the investors and also the crypto exchange corporations.
Support level: $850
Resistance level: $900
Ripple has, during this week been facing a tough time. The cryptocurrency was trading above the $0.65 price level when a downside initiated. This saw it placed at the $0.513 price level from the $0.65 high. This was a sharp drop in price. Currently, the ripple has been involved in an upside in price which has placed it at the $0.56 price level.
Since Ripple has been involved in a bullish trend which might see it continue with the upside trend, we might witness the $0.58 and the $0.60 price levels soon. On the downside, dropping below the $0.54 price level might attract losses.
Support level: $0.54
Resistance level: $0.58
According to the price analysis, all the four major coins have been involved in an upside in prices. Therefore, since a downside had placed them in extremely low levels, we expect a recovery as stated in the price analysis.