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BTC, ETH and XRP Price Analysis for June 19

Price Analysis
Sun, 06/19/2022 - 18:45
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Denys Serhiichuk
Has the time arrived to buy back the cryptocurrency market?
BTC, ETH and XRP Price Analysis for June 19
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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The cryptocurrency market is slightly recovering after a prolonged drop, and most of the coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Despite today's rise, the rate of Bitcoin (BTC) has gone down by 28.80% over the last seven days.

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

On the weekly chart, Bitcoin (BTC) is about to make a false breakout of the $19,490 mark. At the moment, one should pay close attention to the daily closure. If buyers can keep the initiative and the price holds near the $19,500 mark, there are chances to see a further correction to the $20,000 zone next week.

Bitcoin is trading at $19,468 at press time.

ETH/USD

Ethereum (ETH) has risen more than Bitcoin (BTC) since yesterday, as the price change has accounted for 4.44%.

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

Ethereum (ETH) has also bounced off the $900 mark against the increased volume. Thus, the rate has come back above the crucial $1,000 mark. If the situation does not change by the end of the day, one can expect the continued growth to the $1,150-$1,200 area within the next few days.

Ethereum is trading at $1,033 at press time.

XRP/USD

XRP is falling the least in terms of the weekly analysis as the drop has constituted 9.80%.

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

Despite this, the situation is less clear compared to Ethereum (ETH) and Bitcoin (BTC). Currenly, bulls need to hold the initiative they have gained, keeping the rate above the $0.30 level. If they manage to do that, a rise is possible to $0.35 shortly.

XRP is trading at $0.3132 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.