Bitcoin, Ethereum, Ripple, EOS, NEM Slightly Higher, Sellers Still Strong: Price Analysis, June 14

  • Andrew Strogoff
    📈 Price Predictions

    Bitcoin and altcoins start a correction as the price goes slightly upwards


Bitcoin, Ethereum, Ripple, EOS, NEM Slightly Higher, Sellers Still Strong: Price Analysis, June 14

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 seem to finally find their support as they have stopped declining and started a bullish correction. However, sellers are still strong as the price moves upwards in a very smooth manner. Markets are still influenced by the news from the US where local regulatory authority CFTC requires transaction data from exchanges.

There is another interesting event to mention. The Reserve Bank of India has decided to ban any operations with cryptos using local financial organizations. However, experts think that this decision is based on no research and is made in haste. The Reserve Bank of India has mentioned that there was no research conducted before the implementation of this ban.

This news is important as India is not the only state to ban cryptocurrency operations. The event has a negative impact on the whole industry as well.

Bitcoin (BTC/USD) Price Analysis, June 14

The currency pair has added less than one percent in the past 24 hours. Bitcoin develops its bullish correction currently after a serious downtrend that we have seen in the past several days. BTC/USD established new lows on Wednesday, but then reversed as sellers were unable to push the currency pair lower.

Let’s have a closer look at what is happening on the hourly chart. Bitcoin has tested the support area at 3.618 retracement level on Wednesday, but failed to break it through. The currency pair jumped off from there and went upwards targeting the resistance area at $6,510. BTC/USD fluctuates there currently. The possible ways for the currency pair are the following.

  1. Red scenario (bearish). The currency pair will develop its downtrend and break through 3.618 retracement level targeting 4.236.
  2. Orange scenario (neutral). Bitcoin will stay within the current range, limited by the support at 3.618 retracement level and the resistance area at $6,510.
  3. Green scenario (bullish). The currency pair will move towards the resistance area at $6,510 and jump over it targeting the next resistance area at $6,718.

Ethereum (ETH/USD) Price Analysis, June 14

Ethereum has added more than two percent in the past 24 hours. The currency pair has started a correction on Wednesday after establishing new weekly lows. However, this correction is smooth currently meaning bears are still able to reverse the price.

Let’s see what is going on the hourly chart. The currency pair has tested the support area at $473.39 and jumped off it. Ethereum moved towards the closest resistance area later but failed to reach it. ETH/USD remains between the two areas currently. The possible ways for the currency pair are the following:

  1. Red scenario (bearish). The currency pair will break through the closest support area at $473.39 and move lower, targeting the next support area at $453.24.
  2. Orange scenario (neutral). Ethereum will stay within the current range between the support area at $473.39 and the resistance area at $500.36.
  3. Green scenario (bullish). ETH/USD will break through the resistance area at $500.36, targeting the next resistance at 3.618 retracement level.

Ripple (XRP/USD) Price Analysis, June 14

Ripple has added almost three percent in the past 24 hours. The currency pair develops an upside correction currently. XRP/USD has tested $0.5088 support area on Wednesday, but failed to cross it and retreated.

Let’s have a closer look at the hourly chart. The currency pair has crossed the resistance area at $0.5444. XRP/USD fluctuates above this level in the moment of writing. Ripple seems to establish a bullish Flag pattern meaning the currency pair is able to run even higher. The possible ways for Ripple are the following:

  1. Red scenario (bearish). Ripple will break through the closest support area at $0.5444 and move lower, targeting the next support area at $0.5088.
  2. Orange scenario (neutral). XRP/USD will stay within the current horizontal range without significant changes, limited by the support area at $0.5444 and the resistance area at $0.5643.
  3. Green scenario (bullish). The currency pair will break through the resistance area at $0.5643 and run higher, targeting the next resistance at $0.5914.

EOS (EOS/USD) Price Analysis, June 14

 

The currency pair has added more than six percent in the past 24 hours. EOS/USD has started a correction on Thursday after reaching new weekly lows on Wednesday. However, buyers are still hesitating as the growth is very smooth.

Let’s have a closer look at what is going on the hourly chart. EOS/USD has tested the support area at $9.31 on Wednesday, but failed to cross it and reversed upwards. EOS has jumped over $9.91 resistance are later. The currency pair stays in the middle of the next price range. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). The currency pair will break through the closest support area at $9.91 and move lower, targeting the next support at $9.31.
  2. Orange scenario (neutral). EOS/USD will stay within the current range, limited by the support area at $9.91 and the resistance at $10.54.
  3. Green scenario (bullish). EOS will break through the resistance area at $10.54 and run higher, targeting the nest resistance at $11.41.

NEM (XEM/USD) Price Analysis, June 14

The currency pair added a few percent in the past 24 hours. NEM had a huge downtrend last week and seems to stop it for a correction. XEM/USD tests the red descending trend line in the moment of writing. If successful, bulls will be able to change the situation.

Let’s have a closer look at the situation on the hourly chart. The currency pair has tested the support area at $0.1873 on Wednesday and jumped off it. XEM/USD ran higher and reached $0.2002 later. The currency pair fluctuates close to this resistance area currently. The possible ways for XEM/USD are the following:

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

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