Bitcoin, Ethereum, Ripple, EOS, NEO Continue to Sink: Price Analysis, June 13

  • Andrew Strogoff
    📈 Price Predictions

    Bitcoin and altcoins continue to go down; investors still have fears on CFTC decision


Bitcoin, Ethereum, Ripple, EOS, NEO Continue to Sink: Price Analysis, June 13

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.

Cryptocurrencies from the top 20 continue to fall on Wednesday, establishing new lows. Buyers are still unable to find any support. The price runs down every time corrections end. Some experts think that the main reason for such a decline is the decision of CFTC to gather transactions data from the most popular crypto exchanges.

Investors still have negative moods and it is not clear whether they are going to change their mind in the nearest future. There are no positive events as well. The currency pairs are likely to develop their downside tendencies in this situation.

As for the interesting news, Upbit exchange is going to reward those who will report scams and frauds. This plan is working already as 10 schemes of fraudulent were reported in the past several months. Another important thing to pay attention to is EOS voting, which is still on the way. In order to finish this procedure, 150 mln tokens are required.

Bitcoin (BTC/USD) Price Analysis, June 13

Bitcoin has lost more than four percent in the past 24 hours. The currency pair continued to decline meaning buyers have no support currently to change the situation. BTC/USD is correcting in the moment of writing but there is a Flag pattern on the hourly chart, which indicates on the probability of further Bitcoin decline.

Let’s see closer what is going on the hourly chart. BTC/USD has established new lows on Tuesday as the currency pair has reached $6,510 support area. Sellers are unable to push it lower, but there are no signs of a reverse as well. The possible ways for Bitcoin are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $6,510 and run lower, targeting the next support at 3.618 retracement level.
  2. Orange scenario (neutral). Bitcoin will stay within the current range, limited by the support area at $6,510 and the resistance area at $6,718 without significant price changes.
  3. Green scenario (bullish). BTC/USD will break through the resistance area at $6,718 targeting the next resistance area at $6,943.

Ethereum (ETH/USD) Price Analysis, June 13

Ethereum has lost almost seven percent in the past 24 hours. The currency pair develops its downside tendency that started during the weekend. ETH/USD goes downwards in the moment of writing meaning buyers are still unable to find any support.

Let’s have a closer look at the Hourly chart. ETH/USD had a correction on Tuesday and reached $500.36 resistance area. However, buyers were unable to develop their progress and the price went downwards. Ethereum has reached the closest support area at $473.39. The possible ways for ETH/USD are the following:

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

Ripple (XRP/USD) Price Analysis, June 13

The currency pair has lost almost six percent in the past 24 hour. Ripple seems to develop its downside tendency, started on weekend. XRP/USD corrected on Tuesday, but resumed downtrend later. The currency pair develop its downside tendency in the moment of writing.

Let’s have a closer look at what is going on the hourly chart. The currency pair has reached the resistance area at $0.5643 on Tuesday but buyers were unable to hold this level as XRP/USD retreated later and reached the support area at $0.5444. Ripple is testing this level in the moment of writing. The possible ways for XRP/USD are the following:

  1. Red scenario (bearish). Ripple will break through the support area at $0.5444 and move lower, targeting the next support area at $0.5088.
  2. Orange scenario (neutral). The currency pair 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 break through the closest resistance area at $0.5643 and run higher, targeting the next resistance area at $0.5914.

EOS (EOS/USD) Price Analysis, June 13

EOS has lost more than 13 percent in the past 24 hours meaning the currency pair is almost the biggest loser of the top 20. The currency pair resumed its downside tendency, started during the weekend. It seems that EOS/USD is unable to find support as the currency pair establishes new lows.

Let’s have a closer look at what is going on the hourly chart. The currency pair had a correction on Tuesday, and fluctuated above the support area at $9.91. However, EOS/USD crossed this line later and moved downwards. The possible ways for EOS are the following:

  1. Red scenario (bearish). The currency pair will develop its downside tendency and break through the closest support area at $9.31, targeting the next one at $8.89.
  2. Orange scenario (neutral). EOS/USD will stay within the range, limited by the resistance area at $9.91 and the support area at $9.31.
  3. Green scenario (bullish). EOS will break through the resistance area at $9.91and run higher, targeting the next resistance at $10.54.

NEO (NEO/USD) Price Analysis, June 13

The currency pair has lost more than eight percent in the past 24 hours. NEO develops its downside tendency after a small correction. We think that NEO/USD is likely to establish new lows in the nearest future.

Let’s have a closer look at the situation on the hourly chart. The currency pair crossed a couple of levels on Tuesday and established new lows on Wednesday. It seems like NEO/USD is ready to consolidate again or even to start an upside correction. However, we think that the currency pair have the following possible ways in the nearest future:

  1. Red scenario (bearish). The currency pair will break through the current support area at $38.99 and move lower, targeting the next support area.
  2. Orange scenario (neutral). NEO/USD will stay within the current range, limited by the resistance area at $41.51 and the support at $38.99.
  3. Green scenario (bullish). NEO will break through the resistance area at $41.51 and run higher, targeting the next resistance area at $42.80.

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