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BTC, XRP, DOGE, LINK, DOT, and UNI Price Analysis for June 16

Price Predictions
Wed, 06/16/2021 - 14:30
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Denys Serhiichuk
Will any altcoin manage to outperform Bitcoin (BTC)?
BTC, XRP, DOGE, LINK, DOT, and UNI Price Analysis for June 16
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 bullish sentiment is gone. Now, bears are in control, with all the coins from the top being in the red. 

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, buyers were unable to increase volumes, and the price of Bitcoin (BTC) spent the whole day in a narrow sideways channel with support at $39,600. At the end of the day, buyers still managed to update the weekly high around the $41,340 mark, but the anticipated recovery to the level of $42,450 hasn't happened just yet. 

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

The absence of clearly positive sentiment among buyers may cause a pullback to the area of average prices, but a breakout above $42,500 is still likely.

Bitcoin is trading at $39,089 at press time.

XRP/USD

Yesterday the XRP price could not hold above the four-hour EMA55 and sank to the $0.85 mark. There is no deep pullback on small volumes. After a short period of consolidation, buyers have a chance to recover to the psychological level of $1.

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

If the bearish pressure intensifies, then the pullback may continue to the support of $0.80.

XRP is trading at $0.83 at press time.

DOGE/USD

The price of DOGE has gone down by 4 percent over the last day.

DOGE/USD chart byTradingView
DOGE/USD chart byTradingView

Despite the drop, the decline may continue as bulls have not showed any power after a false breakout. In this case, if sellers break the support at $0.3029, there are chances to attain the next vital level at $0.21 soon.

DOGE is trading at $0.3116 at press time.

LINK/USD

Chainlink (LINK) is even more bearish than DOGE as the price fall has accounted for 8 percent.

LINK/USD chart byTradingView
LINK/USD chart byTradingView

From the technical point of view, the decline is more likely than the growth with a false breakout of the $25 mark, which made the bears even more powerful. If the downtrend continues, there is a high chance of seeing a retest of the support at $19.73 once again.

LINK is trading at $23.58 at press time.

DOT/USD

Polkadot (DOT) is not an exception, going down by 5 percent.

DOT/USD chart by TradingView
DOT/USD chart by TradingView

Polkadot (DOT) is neither bullish nor bearish on the daily chart as it keeps trading in the zone where most of liquidity is focused. It means that traders are accumulating the power for a sharp move.

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BTC, ETH, ADA, BNB and XLM Price Analysis for June 15

If the price slowly approaches the resistance around $29, bulls might seize the initiative. In another case, the price decrease to $15 if the bears' pressure continues.

DOT is trading at $23.05 at press time.

UNI/USD

Uniswap (UNI) has also been under bearish influence today.

UNI/USD chart byTradingView
UNI/USD chart byTradingView

The decline might not have ended yet as the test of the level of $20.25 might happen due to the weakness of bulls. If sellers can break below this level, the fall might continue to another support around $15.

UNI is trading at $22.3 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.