Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15

Bitcoin and altcoins develop their corrections and establish new local highs. It is hard to say now whether this tendency is mid-term or short-term as experts have different opinion on the reasons of this huge downtrend that we can see in midterm.

Some experts think that this significant crypto market decline is the result of 2017’s cryptocurrencies hype and now the price is trying to find its balance.

Another opinion about this huge downtrend is that the US regulatory body, CFTC requires transactions data from major US cryptocurrency exchanges.

Anyway, the general situation in this industry indicates on the probability of further decline of all cryptos.

Bitcoin (BTC/USD) Price Analysis, June 15

Bitcoin added more than one percent in the past 24 hours. The currency pair bounced back the support area at 3.618 retracement level and started its upside tendency this week. BTC/USD established new highs on Thursday/Friday.

Let’s get closer to the current situation on the hourly chart. The currency pair ran upwards on Thursday and jumped over the resistance area at $6,510. BTC/USD moved higher later and reached $6,718. However, Bitcoin failed to break through this level. The possible ways for Bitcoin are the following:

1. Red scenario (bearish). The currency pair will test the support area at $6,510 and if successful, Bitcoin will develop its downside move targeting the next support at 3.618 retracement level.
2. Orange scenario (neutral). BTC/USD will stay within the current range, limited by $6,718 resistance area and $6,510 support area.
3. Green scenario (bullish). Bitcoin will test the resistance area at $6,718 and move higher, targeting the next resistance at $6,943.

Ethereum (ETH/USD) Price Analysis, June 15

The currency pair has added more than four percent in the past 24 hours. Ethereum develops its upside corrective movement. The currency pair has found support on Wednesday and established new highs on Thursday. ETH/USD still has a positive outlook in short term.

Let’s see closer what is going on the hourly chart. The currency pair has broker through the resistance area at $500.36 and moved higher. However, ETH/USD failed to reach the next resistance area at $540.69 and returned to $500.36. The possible ways for Ethereum are the following:

1. Red scenario (bearish). The currency pair will break through the current support area at $500.36 and move lower, targeting the next support at $473.39.
2. Orange scenario (neutral). Ethereum will stay within the current price range, limited by the resistance area at $540.69 and the support area at $500.36.
3. Green scenario (bullish). ETH/USD will test the resistance at $540.69 and if successful, will go higher, aiming at the next resistance area at $566.90.

Ripple (XRP/USD) Price analysis, June 15

The currency pair has lost less than one percent in the past 24 hours. Ripple develops its upside correction currently but fails to grow significantly as the currency pair fluctuates almost on the same levels on Friday as compared to Thursday.

Let’s see closer what is going on the hourly chart. The currency pair has reached the resistance area at $0.5643 on Thursday, but failed to develop the progress and retreated towards the support area at $0.5444. Ripple stays there currently. The possible ways for Ripple are the following:

1. Red scenario (bearish). The currency pair will break through the support area at $0.5444 and move lower aiming at the next support area at $0.5088.
2. Orange scenario (neutral). Ripple will stay within the current range, limited by the resistance area at $0.5643 and the support area at $0.5444.
3. Green scenario (bullish). XRP/USD will rise towards the resistance are at $0.5643 and break it through. The next step for XRP/USD is to target the next resistance area at $0.5914.

EOS (EOS/USD) Price Analysis, June 15

The currency pair added more than five percent in the past 24 hours. EOS develops its upside correction as it established new highs on Thursday. However, buyers were unable to develop their progress and the price retreated finally.

The closer look at the hourly chart allows us to see the following situation. The currency pair has reached the resistance area at $11.41 on Thursday but later, EOS/USD declined. EOS is now in the middle of the horizontal channel. The possible ways for EOS/USD are the following:

1. Red scenario (bearish). EOS/USD will move towards the support area and test it. If successful, EOS will develop its downside tendency towards $9.91.
2. Orange scenario (neutral). The currency pair will stay within the current range between the resistance area at $11.41 and the support area at $10.54.
3. Green scenario (bullish). EOS will test the resistance area at $11.41 and run higher, targeting the next resistance at $11.92.

NEM (XEM/USD) Price Analysis, June 15

The currency pair added less than one percent in the past 24 hours. NEM develops its upside progress. However, buyers are still hesitating and seem to have not enough power to make a huge momentum currently.

Let’s have a closer look at the situation on the hourly chart. The currency pair went above the support area at $0.2002. However, buyers were unable to develop their progress and the price is close to the support area currently. The possible ways for NEM are the following:

1. Red scenario (bearish). The currency pair will decline below the support area at $0.2002 targeting the next support at $0.1873.
2. Orange scenario (neutral). NEM will stay within the current range between the resistance area at $0.2121 and the support area at $0.2002.
3. Green scenario (bullish). The currency pair will move towards the resistance area at $0.2121 and then run higher targeting the next resistance at $0.2234.

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