Cryptocurrencies price prediction: Bitcoin, Ethereum & Ripple - 20 June

Bitcoin market update: BTC/USD second assault on $9,400 flops

BTC/USD is seen trading at 9,269 on Thursday as the bulls battle to hold onto the minor gains on Thursday. For most of the trading this week, BTC/USD has stayed above $9,000. However, its upside has been limited under the resistance at $9,400.

Looking at the hourly chart, the largest cryptocurrencies continues to respect the new June trendline. Following the crash from may highs marginally above $9,000, the bulls found solace at swing low ($7,451.39). This support gave Bitcoin the much-needed balance as bulls fought to bring the price above the 236% Fib retracement level taken from the last drop from $9,483.23 to a low around $7,451.39.

Ethereum (ETH) price analysis: ETH/USD breaks above $270, no follow through as of yet

Ethereum hit a high of $271.44 during early Asian hours and retreated to $270.30 by the time of writing. The second largest cryptocurrency with the current market capitalization of $28.5 billion is mostly unchanged both since the beginning of the day and from this time on Wednesday. An average daily trading volume for ETH is registered at $5.7 billion.

Looking technically, a sustainable move above $270.00 has improved the short-term technical picture; however, we will need to see a follow through to set the recovery back on track. The nearest resistance awaits ETH bulls at $274.00 (an upper line of 4-hour Bollinger Band). Once it is cleared, the upside is likely to gain traction with the next focus on $279.00 (June 17 high) and psychological $280.

Ripple price analysis: XRP/USD stuck in a tight range, $0.4400 is a hard nut to crack

Ripple’s XRP, the third largest coin by market value, is changing hands at $0.4350, about 1% higher from this time on Wednesday. The coin hit $0.4627 on June 17, following the news about Ripple’s partnership with MoneyGram, but failed to keep the ground amid technical correction.

Ripple’s market value has settled at $18.4 billion, while the trading volumes settled at $1.1 billion.

XRP’s technical picture

The near-term trend remains bullish as long as the coin stays above $0.4270 (23.6% Fibonacci retracement for the upside from April 25 low). However, the recovery is capped by a psychological $0.44, followed by June 16 high of $0.4426. Once it is out of the way, the upside is likely to gain traction with the next focus on $0.4500 and $0.4627, 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