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BTC, ETH, LTC and DOGE Price Analysis for June 3

Price Predictions
Thu, 06/03/2021 - 16:02
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Denys Serhiichuk
Is it possible to see the revival of the bullish market soon?
BTC, ETH, LTC and DOGE Price Analysis for June 3
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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Even though bulls keep controlling the situation on the market, the rise is not so sharp and some coins have already come back to the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased slightly since yesterday. The price change is +1.86%.

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

The rise of the main crypto is not accompanied by the trading volume. Moreover, it keeps going down, which means that bulls have not accumulated enough strength for continued growth. In this case, the more likley price action is sideways trading in the range of $37,500-$39,000 until the end of the week.

Bitcoin is trading at $38,666 at press time.

ETH/USD

Ethereum (ETH) has not showed such growth as Bitcoin (BTC) and the chief altcoin has gone up by only 0.15%.

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

Although the price of Ethereum (ETH) is almost unchanged since yesterday, there are high chances of returning to $3,000 soon. At the moment, the altcoin is located in the area where most of liquidity is focused, which means that traders are accumulating power in the range. If bulls can keep the rate above $2,600, the possibility of a retest of the resistanance will be quite high.

Ethereum is trading at $2,788 at press time.

LTC/USD

Litecoin (LTC) is almost following the price action of Ethereum (ETH) as the growth of the "digital silver" has gone up by +1.80%.

LTC/USD chart byTradingView
LTC/USD chart byTradingView

From the techical point of view, bulls are losing their efforts while trying to come back to $200 and above as the trading volume is declining. The volatility is also reduced, which means that a sharp move may happen soon.

Related
BTC, BNB, XLM and YFI Price Analysis for June 2

However, at the moment, neither bulls nor bears are dominating on the market, confirming trading in the range between $180 and $190 for the next few days.

Litecoin is trading at $188.57 at press time.

DOGE/USD

DOGE is the only coin from our list trading in the red zone. Its rate has gone down by 2.29% over the past 24 hours.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

The fall may not have ended yet as bulls could not get to the crucial mark of $0.45. Thus, the selling trading volume has increased, confirming the presence of sellers on the market. All in all, there is a high chance to see a restest of the recently formed mirror level at $0.38 soon.

DOGE is trading at $0.4036 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.