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BTC, ETH, and XRP Price Analysis for June 10

Fri, 06/10/2022 - 17:45
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Denys Serhiichuk
Was the recent price increase a dead cat bounce? Will there be another price spike?
BTC, ETH, and XRP Price Analysis for June 10
Cover image via www.tradingview.com

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.

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Bulls are struggling to recover their positions, with most of the top coins remaining in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has broken the $30,000 mark, falling by 1.82% over the last day.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) is again below $30,000 as bulls didn't manage to maintain momentum and make a push toward the $31,000 zone. However, at the moment, one needs to pay close attention to where the daily candle closes.

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BTC, ETH, XRP, BNB and ADA Price Analysis for June 8

If buyers cannot come back to the $30,000 price level, there is a high probability of testing the $28,500 mark shortly.

Bitcoin is trading at $29,490 at press time.

ETH/USD

Ethereum (ETH) is the biggest loser from the list today, going down by 3.24%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) could not fix above $1,800, which means that bears are again more powerful than bulls. In addition, selling volume is high, confirming bears' pressure. If the situation does not change, Ether may drop below the $1,700 support level. If that happens, it can lead to the test of the zone around $1,500 within a few days.

Ethereum is trading at $1,732 at press time.

XRP/USD

XRP has followed the drop of top coins, losing 2.44% of its price share since yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

XRP is also below its crucial mark of $0.40. The selling volume is increasing, which means one is likely to see a continued price decrease. Respectively, the closest level where buyers can seize the opportunity is the support level at $0.3644.

XRP is trading at $0.38754 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.