Cryptocurrency Analysis: Bitcoin, Ethereum, Ripple - June 6

Bitcoin Technical Analysis: BTC/USD bearish pennant pattern subject to a breakout

Bitcoin price is nursing losses of around 0.95% on Thursday afternoon. BTC/USD price action remains within consolidation mode, following a breakout of the critical daily supporting trend line at the start of the week. Significant near-term daily support is seen at $7,500 level, a break below would heavily expose $7,000 to the downside.

Bitcoin Price Analysis

Ethereum Technical Analysis: ETH/USD bullish flag structure eyed via the daily chart

Ethereum price on Thursday is nursing losses of around 1.25% in the second part of the day. ETH/USD price action via the daily chart view is moving within somewhat of a bullish flag pattern. Should the bulls manage to force a breakout, eyes will be on a move back to the $300 territory.

Ethereum Price Analysis


Ripple price analysis: XRP/USD inches closer to a breakout – Bollinger Band consolidation

XRP/USD price is currently searching for key support and a short-term that will allow it to reverse the trend significantly above $0.400. The declines in the past couple of days have demoralized and eventually paralyzed the buyers who seem to have hibernated. At the same time, there is just enough buying power sustaining XRP/USD above the weak support at $0.3900.

Ripple Price Analysis


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.