Main navigation

BTC, ETH, XRP, BNB and ADA Price Analysis for June 12

Price Predictions
Sat, 06/12/2021 - 14:59
article image
Denys Serhiichuk
Which coin can rise the fastest on the ongoing bounce back?
BTC, ETH, XRP, BNB and ADA Price Analysis for June 12
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.

Read U.TODAY on
Google News

The cryptocurrency market keeps correcting as all the top ten coins are in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has started the weekend with a fall, going down 4%.

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

Bitcoin (BTC) keeps trading in the sideways trend between $43,800 and $32,000. At the moment, the bears are becoming weaker based on the trading sell-off volume that has been declining. Also, the Bitcoin futures trading session on the CME closed at the $37,325 mark, thus forming a gap.

Related
BTC, ETH, XRP, DOGE, UNI and SOL Price Analysis for June 10

In this case, a short-term rise for Bitcoin is the likely price action for the coming days.

BTC is trading at $35,868 at press time.

ETH/USD

Ethereum (ETH) is less bearish than Bitcoin (BTC) as the fall has accounted for 1.32%.

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

Ethereum (ETH) is located in the zone where most of the liquidity is focused. Yesterday's decline stopped in the $2,300 area, which confirms the power of the buyers. Should the trading volume increase, ETH may reach the $2,900 level next week.

ETH is trading at $2,437 at press time.

XRP/USD

XRP is going down faster than Ethereum (ETH) as the decline has constituted 4%.

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

Despite the fall, XRP might show a short-term growth from the current price levels as the selling trading volume is low. If the bulls manage to seize the initiative, there are chances for XRP to start testing the resistance at $0.92 soon.

XRP is trading at $0.8368 at press time.

ADA/USD

Cardano (ADA) has lost 3.54% of its value over the last 24 hours.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) has successfully bounced off the support at $1.33 on the daily chart. The rise may continue if the buyers can fix around the current levels. The trading volume is relatively high, which means that the growth to the next resistance at $1.70 may happen shortly.

ADA is trading at $1.47 at press time.

BNB/USD

Binance Coin (BNB) is the biggest loser today, going down by 5.33%.

BNB/USD chart byTradingView
BNB/USD chart byTradingView

Binance Coin (BNB) also looks bullish despite the price decrease. The selling trading volume has dropped to the minimum marks. This means that the bears are running out of power to keep pushing the price deeper. That is why, the likely scenario is the retest of the resistance at $403.

BNB is trading at $344 at press time.

article image
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.