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BTC, ETH and XRP Price Analysis for June 11

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Sat, 11/06/2022 - 20:00
BTC, ETH and XRP Price Analysis for June 11
Cover image via www.tradingview.com

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The fall has continued on the weekend as all of the top 10 coins are trading in the red zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has fallen the least from the list with a drop of 2.41%.

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

As mentioned before, Bitcoin (BTC) has continued the decline after a failed attempt to fix above the $29,000-$30,000 zone. At the moment, the rate is approaching the support level at $27,757 against the high selling volume. If buyers cannot seize the initiative, traders can expect a sharp drop below $27,000 next week.

Bitcoin is trading at $28,717 at press time.

ETH/USD

Ethereum (ETH) is the main falling coin today, losing 9.21% of its price share over the last 24 hours.

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

Ethereum (ETH) has broken the support level at $1,700 as yesterday's candle fixed below it. Currently, the bearish scenario remains relevant; however, one needs to pay close attention to the $1,476 mark. In case of a false breakout, there is the potential to see a short-term correction within the next few days.

Ethereum is trading at $1,565 at press time.

XRP/USD

XRP is also going down, declining by 4% since yesterday.

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

From the technical point of view, XRP is trading similar to Bitcoin (BTC) as the price is approaching the support level at $0.3644. If the daily candle fixes near the $0.37 mark, bears might initiate a sharp drop to the $0.35 zone tomorrow.

XRP is trading at $0.3726 at press time.

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