BTC, ETH, LTC Price Prediction — Bearish Candles Are About to Postpone a Blast-Off

  • Denys Serhiichuk
    📈 Price Predictions

    💱🤷‍♂️The crypto market is in the zone of uncertainty. Our price prediction analyzes which promising coins to look after🔮 👀


BTC, ETH, LTC Price Prediction — Bearish Candles Are About to Postpone a Blast-Off

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.

Contents

June 7 has started for the cryptocurrency market with achieving the total market capitalization at the $250 bln mark. However, there is no single trend movement for all the top coins; while Bitcoin Cash is losing more than 1%, the price of Litecoin has increased by more than 8% over the past 24 hours.

The dominance of Bitcoin is decreasing, so altcoins are reacting poorly to the BTC correction taking place recently.

Cryptocurrency market share

Against all this, Ripple and Litecoin are the top gainers, showing 4% and 8% growth respectively. Bitcoin SV keeps falling and has lost around 8% overnight.

BTC/USD

Even though Bitcoin gradually dropped to $7,700, our previous scenario of reaching $8,000 remains relevant. The prevailing number of long positions over shorts on BitMEX and Bitfinex confirms such a situation.

BTC/USD 1-hour chart

Bitcoin has kept trading sideways since June 4, and the community is expecting a sharp move, either up or down. Although the trading volume is near its local minima, BTC might retest the support at $8,000 soon. However, it is supposed to happen later than predicted, after June 10.

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Bears are unlikely to push the price deeper, as the market has already seen 2 corrections earlier. Furthermore, the MACD indicator is looking upwards, confirming our statements.

The price of BTC is trading at $7,818 at the time of writing.

ETH/USD

Even though Ethereum has not shown significant price growth, the coin has given more profits to its holders than Bitcoin over the last day.

ETH/USD 4-hour chart

On the 4-hour chart, Ethereum is about to touch the bottom in June, and the technical patterns point out the nearest bounce back. Notably, the RSI indicator is in the neutral zone, but its lines are moving upwards, suggesting the increasing domination of buyers. The Fibonacci retracement is in the red area, meaning the end of the short-term bearish wave. In this case, the potential level is achieving $269.28 (61.8%) in a few days.

The price of ETH is trading at $248.20 at the time of writing.

LTC/USD

The “digital silver” is performing the best today, compared to other top 10 coins. Its rate has soared by more than 8%, and Litecoin is back in 5th place in the global cryptocurrency ranking. The sharp price rise is followed by the increasing hashrate, which has jumped to a new high.

LTC/USD 1-hour chart

Although Litecoin is bullish now, there is a high chance of correction on the hourly chart. That is backed by the RSI indicator, which has already crossed the overbought zone and is about to go down. What is more, the trading volumes are not on the maximum levels. In this case, the price is likely to be adjusted to $110, so bulls could accumulate their effort for conquering new levels.

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The price of LTC is trading at $113.87 at the time of writing.

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About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

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ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?


ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?

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.

Contents

Resisting the bears’ attempts to beat it down, Ethereum price retains its positions around $250. Moreover, it’s said to be approaching the $400 goal. When should it happen, and why are most traders optimistic about ETH’s future? Let’s analyze Ethereum price predictions from tradingview users and compare their price charts – you will be surprised to discover most of them share similar opinions.

Target – wave III

Ethereum moving on waves

Look at the pattern from Crypto_Boer: the wave pattern is playing out perfectly, and now Ethereum keeps moving to the wave III somewhere at the $377 level. The finish target here is $440, which can be achieved in mid-September or October.

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$360 by the end of June

 $400 mark can be hit in August

Here’s another price chart showing us Ethereum’s way to the heights. Bulls may show up soon. Our target is $360 for 50% upside potential. If ETH reaches such a level, crawling to the $400 mark in July-August will be more than possible.

Beware of a double bottom

ETH should go through a correction

Of course, before Ethereum is able to reach the desired heights, it should go through a correction. User JRghost predicts that ETH should touch $287 before starting the retracement. Price may look to hit PRZ and retrace, then extend to double bottom measured move.

Here are the technical indicators to prove that:

  • Coinciding bearish patterns - Cypher/Butterfly.

  • PRZ is highlighted in red

  • .382 and .618 zone for each pattern highlighted in Green

  • 382 is confluent for a back-test of double bottom confirmation line.

  • Higher Levels of Relative Strength

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Closest targets for ETH

Major targets for ETH

User bread911 has noticed a major momentum divergence on the ETH/USD 4 hr chart. The average is $236.50, while our major resistance targets now are $265, $280, and $340. The first two targets can be easily overcome during June, but what about the third one? It’s possible to reach, too!

Final words

ETH looks really good on the weekly and daily charts – we have broken the trend-line resistance, and begun fresh up-trend. The 5th Elliot wave count is looking primed.

If we manage to break up in the coming days, there’s a big chance Ethereum will reach $290-300 and then simply turn down again. It could potentially even become high for the coming months. If we drop and break down from the current patterns, ETH will stay inside the $220-260 range during June, but it will be more likely to break resistance later, and we’ll see a much bigger rally in the coming months.

Some traders also claim they see a triangle on the price chart, which is a sign of bulls being eager to get in and bears giving up. They simply can't break the flag support because there are just too many bulls wanting to get in.

Ethereum has already managed to break the major $230 resistance, but there’s a possibility of an H&S pattern, which we can consider to be some kind of neckline. If it breaks, outcomes might be sad. $250 is a clear short term resistance now, and the trend is still up, so candles are likely to pop up.

It should be noticed that a lot here depends on Bitcoin. For instance, ETH can repeat its current head & shoulders pattern and take a short nosedive. But in case of growth, we’ll see kicking off the push to $400 for the ETH/USD pair.

Ethereum charts by TradingView

Cover image via 123rf.com
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About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

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