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ADA, BNB, DOGE and SHIB Price Analysis for June 17

Fri, 06/17/2022 - 16:01
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Denys Serhiichuk
Has the time arrived to buy back the altcoins market?
ADA, BNB, DOGE and SHIB Price Analysis for June 17
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Most of the coins are recovering after a few days of decline; however, there are a few exceptions to the rule.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BNB/USD

The rate of Binance Coin (BNB) has risen by almost 2% over the last 24 hours.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Despite slight growth today, the rate of the native exchange coin is located near the support zone, which means that bears' pressure continues.

Related
BTC, SOL and AVAX Price Analysis for June 15

Thus, the buying volume is low, confirming bulls' weakness. In this case, the daily candle near the $210 mark might be a prerequisite for a breakout below $200 soon.

BNB is trading at $214.8 at press time.

ADA/USD

Cardano (ADA) has gained less than Binance Coin (BNB), with a growth of 1.74% since yesterday.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

From the technical point of view, Cardano (ADA) is looking better than Binance Coin (BNB) as the rate is far away from the support level at $0.3974. However, the altcoin could not come back above the $0.50 zone, which means that it has not accumulated enough power for a further rise. Respectively, sideways trading in the range of $0.45-$0.50 is the more likely scenario for the upcoming days.

ADA is trading at $0.4858 at press time.

DOGE/USD

DOGE is the biggest gainer from the list today, going up by 2.45%.

DOGE/USD chart by Trading View
DOGE/USD chart by TradingView

DOGE is trying to return to the middle of the wide channel after the false breakout of the support level at $0.05134. At the moment, neither bulls nor bears are dominating as the price is stuck around the $0.056 mark. All in all, if buyers can hold the support, there are chances to see the test of the $0.060 zone shortly.

DOGE is trading at $0.05652 at press time.

SHIB/USD

SHIB could not follow the rise of DOGE, falling by 0.24%.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

SHIB has broken the support at $0.0000907 and formed a new one at $0.00000742. Currently, the price is trying to hold above the $0.0000080 mark. If buyers fail to do that, one can expect a continued drop to $0.0000075 soon.

SHIB is trading at $0.00000815 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.