Cryptocurrency Analysis: Bitcoin, Ethereum, Ripple - June 6

Tomas Salles FXStreet

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.

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.

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.

Author

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

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