Cryptocurrencies price prediction: Bitcoin, Ethereum, Ripple - 17 June


Bitcoin price prediction: BTC/USD knocks at $9,200 - Bitcoin confluence

Bitcoin (BTC) has settled above $9,100 after a strong rally on Sunday. A sustainable move above critical $9,000 has improved the technical picture, though, at this stage, the first digital coin may enter a consolidation phase. The bulls need to take a breath before another leg higher.

Bitcoin confluence levels

Now that the strong line of resistance gave way, the recovery may gain traction. Moreover, there are only a few technical barriers located above the current price, which means that further growth is the path of least resistance for the market.

Ethereum (ETH) price analysis: ETH/USD on retreat after Sunday’s growth

Ethereum (ETH) hit $279 on Sunday only to retread below $270 by the time of writing. The second largest cryptocurrency with the current market capitalization of $28.7 billion has lost nearly 1% of its value in recent 24 hours and stayed unchanged since the beginning of Monday. An average daily trading volume for ETH is registered at $9.7 billion, which is much higher from the long-term figures.

Looking technically, ETH/USD recovery is capped by the upper boundary of 1-day Bollinger Band (currently, at $278.73). This barrier stopped the upside on Sunday and triggered the downside correction. Once it is cleared, the bullish trend is likely to gain traction with the next focus on $280.00 and $284 (the upper boundary of 1-week Bollinger Band) and the recent high of $288. That’s where some profit taking on speculative longs may trigger the downside correction before another bullish leg towards $300.

Ripple price analysis: XRP/USD hovers around $0.4300 after sharp weekend growth

Ripple’s XRP, the third largest coin by market value, is changing hands at $0.4323. It has gained nearly 3% of its value on a daily basis and stayed mostly unchanged since the beginning of Monday trading. The coin touched $0.4426 - the highest level since June,3 - but failed to keep the ground and slipped.

Ripple’s market value has settled at $18.2 billion, while the trading volumes settled at $1.8 billion.

XRP’s technical picture

A sustainable move above $0.4270 (23.6% Fibonacci retracement for the upside from April 25 low) has improved the technical picture and created a positive environment for a continued recovery. However, the price is likely to face a stiff resistance on approach to psychological $0.44, closely followed by Sunday’s high of $0.4426. Once it is cleared, the upside is likely to gain traction with the next focus on $0.4500 and $0.4646, which is the highest level hit on June 3.

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Bitcoin market update: BTC/USD revives the uptrend – Steps above $9,500

BTC/USD trading pair appears to have found support above $9,000. A rebound from the support has pulled above $9,500 amid a building bullish momentum across the market. 

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Ripple price analysis: XRP/USD defends falling wedge support; breakout still lingers

Ripple continued to press against key support areas yesterday. The downside momentum was augmented by the broad-based selling pressure in the market. As discussed yesterday, the upside was capped at $0.32 while XRP/USD sustained above $0.30. 

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Litecoin price analysis: LTC/USD breaks trendline resistance

Litecoin has is reacting in the same way as other cryptos in the wake of the acute losses recorded yesterday. LTC/USD extended the losses below $100 which further squeeze through the next target. 

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Bitcoin Cash market update: BCH/USD edges its way towards $300

Bitcoin Cash is revamping the uptrend after falling victim to selling pressure for the second time in the same week. The initial drop towards the end of the last week culminated in a dive under $300 on Monday this week. 

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Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

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