Bitcoin, Ethereum, Ripple, EOS, NEM at New Lows, But Buyers Have Hopes: Price Analysis, June 18

Bitcoin and altcoins have established new lows during the weekend, but their fluctuations were calm without significant price changes meaning the cryptos seem to find support finally. There was no important news in the past 36 hours.

As for interesting events, it is important to mention that National Bank of Romania had comments on cryptocurrencies. The governor of this structure, Mugur Isarescu stated that cryptos cannot be adopted as currencies because they fail to perform functions of traditional fiat money. Isarescu added that cryptos’ emission is done by anonymous persons and not by authorized bodies. This may increase frauds and scams in future.

As for Blockchain, Isarescu mentioned that the technology is worth studying. Romanian authorities are ready to adopt it but the crypto market needs some serious adjustments to be adopted.

Bitcoin (BTC/USD) Price Analysis, June 18

The currency pair has lost more than one percent in the past 24 hours. However, in general, the situation is neutral meaning sellers have no power to push Bitcoin lower. The buyers are hesitating but have chances to change the situation while there is no important news.

Let’s zoom in to see the current situation. The currency pair fluctuated with no clear direction during the weekend below $6,510 resistance area. However, BTC/USD was unable to reach the closest support at 3.618 as well. The possible ways for Bitcoin are the following:

1. Red scenario (bearish). The currency pair will break through the support at 3.618 retracement level and move lower, targeting the basis of the Fibonacci tool.
2. Orange scenario (neutral). Bitcoin will stay within the current range, limited by the resistance area at $6,510 and the support at 3.618 retracement level with no significant price changes.
3. Green scenario (bullish). The currency pair will break through the closest resistance area at $6,510 and move higher, targeting the next resistance at $6,718.

Ethereum (ETH/USD) Price Analysis, June 18

Ethereum has lost more than one percent in the past 24 hours. The currency pair fluctuates with no clear direction meaning sellers have lost initiative, but bulls are still unable to drive the currency pair higher. ETH/USD has established new local lows, but the currency pair looks promising in the moment of writing.

Let’s have a closer look at the currency pair on the hourly chart. Ethereum has reached 3.618 retracement level during the weekend but failed to make any further progress and retreated. The currency pair declined below the support area at $500.36. It fluctuates close to this area in the moment of writing. The possible ways for ETH/USD are the following:

1. Red scenario (bearish). The currency pair will break through the support area at $473.39 and move lower, targeting the next support at $453.24.
2. Orange scenario (neutral). Ethereum will stay within the current range, limited by the resistance area at $500.36 and the support at $473.39 without significant changes.
3. Green scenario (bullish). ETH/USD will break through the resistance area at $500.36 and run higher, targeting the next resistance at $540.69.

Ripple (XRP/USD) Price analysis, June 18

The currency pair has lost more than two percent in the past 24 hours. However, Ripple has no clear bias currently and the currency pair can develop its upside correction in the nearest future. XRP/USD reached new tops during the weekend but buyers were unable to develop their progress.

Let’s get closer to the price on the hourly chart. The currency pair has reached $0.5643 resistance area during the weekend, but retreated from there and crossed the support area at $0.5444. XRP/USD reached the next support area at $0.5088 in the moment of writing. The possible ways for Ripple are the following:

1. Red scenario (bearish). The currency pair will break through the support area at $0.5088 and move lower targeting the next support area at $0.4918.
2. Orange scenario (neutral). Ripple will stay within the current range between the resistance area at $0.5444 and the support at $0.5088.
3. Green scenario (bullish). The currency pair will cross the resistance area at $0.5444 and run higher, targeting the next resistance at $0.5643.

EOS (EOS/USD) Price analysis, June 18

The currency pair has lost almost four percent in the past 24 hours. EOS is currently fluctuating without any clear direction. The currency pair has the potential to develop its upside correction, but buyers are hesitating. EOS price stays within the horizontal range in the moment of writing.

Let’s get closer at EOS price on the hourly chart. EOS has reached the resistance area at $11.41 during the weekend, but buyers were unable to develop their progress and the currency pair retreated. EOS/USD failed reach the support area at $9.91. The price has no clear direction currently. The possible ways for EOS/USD are the following:

1. Red scenario (bearish). EOS will reach the support area at $9.91 and cross it. The currency pair will have opportunity to move lower, targeting the next support area at $9.31.
2. Orange scenario (neutral). EOS/USD will stay within the current range between the resistance area at $10.54 and the support at $9.91.
3. Green scenario (bullish). The currency pair will test the resistance area at $10.54 and if successful, buyers will be able to drive the price towards the next resistance at $11.41.

NEM (XEM/USD) Price analysis, June 18

The currency pair has lost more than one percent in the past 24 hours. NEM has broken through the descending trend line during the weekend but still remains flat. The buyers are hesitating to take further steps and the sellers are unable to push XEM/USD lower.

Let’s have a closer look at the situation on the hourly chart. The currency pair has crossed the resistance area at $0.2002 but failed to stay above this level and declined below. XEM/USD stays within a horizontal range at the moment of writing. The possible ways for the currency pair are the following:

1. Red scenario (bearish). XEM/USD will test the support area at $0.1873 and break it through targeting the next support area.
2. Orange scenario (neutral). NEM will stay within the current range, limited by the resistance area at $0.2002 and the support area at $0.1873.
3. Green scenario (bullish). The currency pair will break through the current resistance area at $0.2002 and move higher targeting the next resistance at $0.2121.

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