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📈 Price Predictions
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Bitcoin, Ethereum, Ripple, EOS, NEM Close to Ground, No Serious Movements Fixed: Price Analysis, June 22

  • Andrew Strogoff
    📈 Price Predictions

    Bitcoin and altcoins remain flat, no significant fluctuations in the past 24 hours

Bitcoin, Ethereum, Ripple, EOS, NEM Close to Ground, No Serious Movements Fixed: Price Analysis, June 22
Cover image via u.today

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.

Bitcoin and altcoins still unable to make any serious movements as they stay within horizontal ranges in the midterm. The fact that they have stopped their downtrends gives hopes to buyers. However, there are still no significant changes and nobody is able to predict, when they start to grow and whether they will do it in the nearest future.

Another reason for this lasting flat is summer. Investors and traders want to make a pause in order to relax a bit. This helps the price to find balance in the moment of writing.

As for important news, there are no events to affect the price significantly. However, some news may be interesting for our readers and subscribers. Vitalik Buterin gains over one mln followers in Twitter. He outruns Charlie Lee from Litecoin meaning Buterin becomes one of the most influencing persons in crypto community.

Another interesting thing to mention is Bodhi prediction on FIFA `18. QTUM Blockchain bot has forecasted that Brazil is going to win Mundial.

Bitcoin (BTC/USD) Price analysis, June 22

The currency pair has lost less than two percent in the past 24 hours but when we deal with the situation in general, there is no tendency currently as Bitcoin stays within the large horizontal range. There is a very slight crack about the possibility to run higher. However, neither bulls nor bears are ready currently to break the balance.

Let’s have a closer look at BTC/USD on the hourly chart. The currency pair has tested $6,718 resistance area several times but failed to make a breakout. Bitcoin fluctuates below this level in the moment of writing. The possible ways for BTC/USD are the following:

  1. Red scenario (bearish). The currency pair will reach the support area at $6,510 and test it. Bears will be able to push the currency pair lower if successful.
  2. Orange scenario (neutral). Bitcoin will stay within the current range. The currency pair is limited by the resistance area at $6,718 and the support area at $6,510.
  3. Green scenario (bullish). BTC/USD will test the resistance area at $6,718 and if successful, buyers will drive the currency pair towards the next resistance at $6,943.

Ethereum (ETH/USD) Price analysis, June 22

Ethereum has lost more than four percent in the past 24 hours. The currency pair, in general, grows along the green ascending trend line on the Hourly chart. This upside tendency is still very weak and fable, but it gives hopes to bulls.

When we look closer at the hourly chart we can see that the price has tested $540.69 but failed to move higher and retreated finally towards the ascending trend line. Ethereum fluctuates below this level 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 trend line targeting the support area at $500.36. If successful, bears will be able to push ETH/USD lower aiming at $473.39.
  2. Orange scenario (neutral). The currency pair will stay without significant changes between the resistance at $540.69 and the support at $500.36.
  3. Green scenario (bullish). Ethereum will break through the resistance area at $540.69 targeting the next resistance at $566.90.

Ripple (XRP/USD) Price analysis, June 22

The currency pair has lost almost three percent in the past 24 hours. Ripple remains flat together with other allies from the top 20. XRP/USD seems to start growing in the nearest future, but bulls and bears are still unable to break the balance.

When we look closer at the hourly chart we can see that XRP price has tested the resistance area at $0.5444 but failed to make a breakout there and retreated later. Ripple stays below this level in the moment of writing. The possible ways for XRP/USD are the following:

  1. Red scenario (bearish). The currency pair will reach the support area at $0.5088 to test it. IF successful, bears will be able to push XRP/USD lower.
  2. Orange scenario (neutral). Ripple will stay within the current horizontal range, limited by the support area at $0.5088 and the resistance area at $0.5444.
  3. Green scenario (bullish). XRP/USD will try to break through the resistance area at $0.5444 and once breached, this level will give support to Ripple. The currency pair will move higher in this case targeting the next resistance at $0.5643.

EOS (EOS/USD) Price analysis, June 22

The currency pair has lost almost five percent in the past 24 hours. EOS is weak currently due to the problems with Mainnet. The currency pair has left the big triangle on the hourly chart and develops its downside momentum.

Let’s have a closer look at the hourly chart. The currency pair has tested the resistance area at $10.76 several times but retreated as bulls were unable to drive the currency pair higher. EOS/USD crossed the support area at $10.21 later and developed its downside progress. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). The currency pair will develop its downtrend below $9.60 resistance area targeting the next support at $9.03.
  2. Green scenario (bullish). EOS will run through the resistance area at $9.60 targeting the next resistance at $10.21.

NEM (XEM/USD) Price analysis, June 22

The currency pair has lost more than four percent in the past 24 hours. XEM/USD develops its downside momentum in the moment of writing. Bulls and bears seem to break the balance but it is unclear whether sellers will be able to develop their progress.

Let’s have a closer look at the hourly chart. XEM/USD tried to break through the resistance area at $0.2002. However, later the currency pair declined and crossed the support area at $0.1873. NEM fluctuates below this level currently. The possible ways for the currency pair are the following:

  1. Red scenario (bearish). NEM will cross the support area at $0.1682 targeting lower aims.
  2. Orange scenario (neutral). The currency pair will stay within the range limited by the resistance area at $0.1873 and the support at $0.1682.
  3. Green scenario (bullish). XEM/USD will jump over the resistance area at $0.1873 and move higher towards the next resistance at $0.2002.

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About the author

Andrew Strogoff is a skilled Forex trader and technical analyst from Limassol, Cyprus. He started cryptocurrency trading three years ago, and now is fond of blogging, swimming, cars, new technologies. Loyal blockchain adopter.

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📰 News
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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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