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📈 Price Predictions
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Small Gains, Small Losses for Bitcoin, Ethereum, Ripple, EOS, NEM: Price Analysis, June 20

  • Andrew Strogoff
    📈 Price Predictions

    Bitcoin and other cryptos neutral on Wednesday, no significant price changes


Small Gains, Small Losses for Bitcoin, Ethereum, Ripple, EOS, NEM: Price Analysis, June 20

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.

There were no significant changes in the past 24 hours. Bitcoin and other cryptos remain neutral on Wednesday making small gains and small losses. The industry seems to be at crossroads looking for news and events to make further decisions.

As for the interesting news, there was a report from Hedge Fund Research (a reputable hedge fund analytics agency) showing that average profits of hedge funds investing in digital assets are 35 percent lower in 2018. Those investment institutions have reported an average profit of 45 percent in spring, but it is still not enough to overcome the numbers of 2017.

Another interesting news comes from the United States. Famous crypto industry expert John McAfee will no longer give his “prophecies” on coins as he was contacted by the US SEC regulator and asked to stop his “predictions.”

Bitcoin (BTC/USD) Price analysis, June 20

Bitcoin had almost no changes in the past 24 hours as the cryptocurrency added less than two percent. When we look at the hourly chart we can see that there is no clear tendency currently meaning bulls and bears are in balance and hesitate to make any further steps.

The closer look at the hourly chart helps to understand short-term tendencies. BTC price has tested the resistance area at $6,718 but failed to jump over it. There was a Shooting Star candlestick pattern on Tuesday and the currency pair declined lately following to this signal. BTC/USD stays in the middle of a horizontal range currently with no clear bias. The possible ways for Bitcoin are the following:

  1. Red scenario (bearish). The currency pair will test the support at $6,510 and if successful, bears will have an opportunity to push BTC/USD lower towards 3.618 retracement level.
  2. Orange scenario (neutral). Bitcoin will stay between the resistance area at $6,718 and the support at $6,510.
  3. Green scenario (bullish). BTC/USD will test the resistance area at $6,718. If successful, buyers will be able to drive the currency pair higher, targeting the resistance at $6,943.

Ethereum (ETH/USD) Price analysis, June 20

The currency pair remained neutral as Ethereum has added less than one percent in the past 24 hours. The situation on the hourly chart, in general, is unclear as we have no direction. Buyers and sellers are in balance in the moment of writing and hesitate to make any further steps.

When we look closer at the hourly chart we can see that Ethereum has tested the resistance area at $540.69 on Tuesday but failed to break it through and retreated later. The currency pair stays within a horizontal range at the moment of writing. The possible ways for Ethereum are the following:

  1. Red scenario (bearish). The currency pair is going to test the support area at $500.36 and if successful, bears will be able to push ETH/USD lower, targeting the next support at $473.39.
  2. Orange scenario (neutral). ETH/USD will stay within the current range limited by the resistance area at $540.69 and the support area at $500.36.
  3. Green scenario (bullish). Ethereum will test the resistance area at $540.69 and if successful, buyers will be able to drive the currency pair higher, targeting the next resistance at $566.90.

Ripple (XRP/USD) Price analysis, June 20

Ripple had almost no changes in the past 24 hours as the currency pair lost less than two percent. The situation is unclear in general as there is no tendency at the moment of writing. Bulls and bears have found balance and hesitate to make any further steps.

When we look closer at the hourly chart we can see that XRP/USD has tested the resistance area at $0.5444 and almost reached the next resistance at $0.5643 but retreated below $0.5444 later. The currency pair stays in the middle of a range in the moment of writing. The possible ways for XRP/USD are the following:

  1. Red scenario (bearish). Ripple will break through the support area at $0.5088 and move lower targeting the next support area at $0.4918.
  2. Orange scenario (neutral). The currency pair will stay within the current range limited by the resistance area at $0.5444 and the support at $0.5088.
  3. Green scenario (bullish). XRP/USD will break through the resistance area at $0.5444 and move higher targeting the next resistance at $0.5643.

EOS (EOS/USD) Price analysis, June 20

The currency pair has lost more than three percent in the past 24 hours but in general EOS is looking for direction currently as its fluctuations are flat. Bulls and bears have found balance currently and they don’t want to change anything before new fundamental drivers to come.

Let’s have a closer look at the hourly chart. EOS/USD has tested the resistance area at $10.54 several times on Tuesday but failed to cross it and retreated finally. EOS fluctuates in the middle of the range in the moment of writing. The possible ways for the currency pair are the following:

  1. Red scenario (bearish). EOS will test the support at $9.91 and once this level is breached, will move lower targeting the next support at $9.31.
  2. Orange scenario (neutral). The currency pair Will stay within the current range limited by the resistance area at $10.54 and the support at $9.91.
  3. Green scenario (bullish). EOS/USD will break through the resistance area at $10.54 and move higher aiming at $11.41.

NEM (XEM/USD) Price analysis, June 20

NEM has lost more than four percent in the past 24 hours, but the currency pair still remains neutral in general as bulls and bears have found balance currently and hesitate to make any further steps without new fundamental drivers.

When we look closer at the hourly chart we can see that the currency pair stays within the range currently. XEM/USD has tested the resistance area at $0.2002 on Tuesday but failed to breach it and retreated. The possible ways for the currency pair are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $0.1873 and move lower searching for new targets below.
  2. Orange scenario (neutral). XEM/USD will stay within the range between the resistance area at $0.2002 and the support area at $0.1873.
  3. Green scenario (bullish). The currency pair will break through the resistance area at $0.2002 and move higher targeting the next resistance at $0.2121.

Cover image via u.today
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About the author

Andrew Strogoff is a skilled Forex trader and technical analyst from Limassol, Cyprus. He started cryptocurrency trading three years ago, and now is fond of blogging, swimming, cars, new technologies. Loyal blockchain adopter.

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