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Bitcoin Price Prediction: BTC/USD Trades Above $37,400

Bitcoin Price Prediction: BTC/USD Trades Above $37,400

Bitcoin Price Prediction – June 13

The Bitcoin price touches the major resistance level at $37,490 instead of just battling with supports.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $43,000, $45,000, $47,000

Support Levels: $30,000, $28,000, $26,000

Bitcoin Price Prediction
BTCUSD – Daily chart

BTC/USD is currently pushing the price above the nearest resistance level. The coin is moving above $37,000 to trade at $37,390 at the time of writing. More so, the Bitcoin price has gained over 5% since the European session as it is using $34,780 support as a jumping-off ground to develop the upside momentum, which is now gaining traction.

Bitcoin Price Prediction: What Could Be the Next Move?

The return above $37,000 could set the framework for gains towards $40,000. Meanwhile, the technical indicator shows that the bulls are ready for action especially when the up-trending Relative Strength Index (14) is considered. Any further bullish movement above the 9-day and 21-day moving averages could pave the way for gains above $38,500. Other resistance levels are located at $43,000, $45,000, and $47,000.

Looking at the downside, if the Bitcoin price falls back below the $35,000 level and move to cross below the moving averages, the bears may wrestle out the control over the situation very quickly and the next important support may come at $33,000, which could be followed by $30,000, $28,000, and $26,000 support levels.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

Looking at the 4-hour chart, the Bitcoin price is currently trading around $38,796 above the 9-day and 21-day moving averages after a reversal from $34,840. Meanwhile, the 4-hour chart shows that the bullish supply is coming up in the market while the bears are also trying to bring the price down.

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BTCUSD – 4 Hour Chart

Furthermore, if the buyers could strengthen and energize the market more, they can further push the price to a $40,000 resistance level. Therefore, breaking the mentioned resistance may likely allow the bulls to test the $41,000 and above. In other words, the Relative Strength Index (14) is currently moving towards the overbought region, but when it turns down; the bears could step back into the market and bring the price to the support level of $36,000 and below.

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Bitcoin (BTC) Price Prediction: BTC/USD Falls as Bitcoin Revisits $30,000 Low

Bitcoin (BTC) Price Prediction: BTC/USD Falls as Bitcoin Revisits $30,000 Low

Bitcoin (BTC) Price Prediction – June 12, 2021

About 48 hours ago, Bitcoin bulls failed to sustain above the $38,000 high as Bitcoin revisits $30,000 low. The breaking of the $39,000 resistance is necessary for Bitcoin to rally above $40,000. Once buyers reclaim the $40,000 support, the bullish momentum will extend to $46,000 high.BTC/USD price lacks buyers at higher price levels as the crypto find it difficult to resume upside momentum.

Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000

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BTC/USD – Daily Chart

Following the bulls’ failure to break the $38,000 resistance, the BTC price was fluctuating below the resistance level for three days. Thereafter, Bitcoin slumped above the $35,000 support. On the upside, if the bulls break the $38,000 and $39,000 resistance, BTC’s price will rally above $40,000 high. Incidentally, if the $40,000 resistance is cleared, a rally to the previous highs is possible. Since May 19, Bitcoin bulls have been defending the $35,000 support as the king coin remained stable above the critical support at $34,000. However, if the bears break below the critical support, Bitcoin will fall to the $30,000 support level.

El Salvador’s Bitcoin Adoption May Risk IMF Negotiations: JP Morgan – As Bitcoin Revisits $30,000 Low

El Salvador has adopted Bitcoin (BTC) as a legal currency within the country. JP Morgan has indicated that El Salvador’s decision to adopt Bitcoin as legal tender is of little economic benefit. Earlier on El Salvador’s parliament passed a historic bill to recognize Bitcoin as a legal tender. The “Bitcoin Law” bill was accepted by a majority of 62 out of 84 votes. The JPMorgan client note stated: “As with the dollarization in the early-2000s, this move does not seem motivated by stability concerns, but rather is growth-oriented […] But it is difficult to see any tangible economic benefits associated with adopting Bitcoin as the second form of legal tender, and it may imperil negotiations with the IMF.” Presently, El Salvador is in talks with the International Monetary Fund for a $1 billion funding program. The country is facing a potential $3.2 billion budget deficit in 2021.

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BTC/USD – Daily Chart

Presently, Bitcoin is hovering below and above the $35,000 support. A rebound above the current support will catapult the crypto to retest the $39,000 resistance zone. Meanwhile, on April 25 downtrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Bitcoin will fall to level 2.0 Fibonacci extension. From the price action, Bitcoin has retested the Fibonacci extension it is hovering above the $35,000 support.

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Bitcoin Price Prediction: BTC/USD Price Plummets Below $36,000

Bitcoin Price Prediction: BTC/USD Price Plummets Below $36,000

Bitcoin Price Prediction – June 12

The Bitcoin price is spreading the bearish move to areas just below $35,000 after numerous attempts to hold gains above $37,500.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $42,000, $44,000, $46,000

Support Levels: $30,000, $28,000, $26,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD falls below $37,448 as the largest cryptocurrency embarked on a support smashing exercise after failing to hold above $37,000 following a significant breakout in the last few days. Therefore, the bearish control is seen across the market with other major digital assets posting similar losses as they trade below the 9-day and 21-day moving averages.

Bitcoin Price Prediction: Can BTC Price Go Lower?

The Bitcoin price is trading at $38,825 with an intraday loss of 4.05%. The prevailing trend is bearish with expanding volatility. However, the first digital asset is currently consolidating in a bearish flag pattern. Meanwhile, a breakout in this pattern in the direction of the previous trend is expected to continue. In this case, BTC/USD is expected to drop and stay below 9-day and 21-day moving averages and could move towards the critical support levels at $30,000, $28,000, and $26,000.

However, if the Bitcoin price stays above the moving averages; the price could rise to $38,000 vital resistance. Therefore, a further bullish drive could push the price to $42,000, $44,000, and $46,000 resistance levels. The technical indicator Relative Strength Index (14) is moving below 45-level, which shows a possible more bearish momentum may continue to play out.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

At the opening of the market today, the Bitcoin price first went up but dropped slightly within 24 hours, bringing its price from $37,448 to reach around $35,790. Should the price continue to drop below the 9-day and 21-day moving averages, it could reach the nearest support level at $33,000 and below.

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BTCUSD – 4 Hour Chart

However, should in case the bulls push the coin above the upper boundary of the channel, the Bitcoin price could reach the potential resistance level of $38,000 and above. Presently, the market may continue to move sideways or experience an uptrend as the Relative Strength Index (14) indicator moves above 45-level.

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Ripple Price Prediction: XRP/USD Drops Below $0.89

Ripple Price Prediction: XRP/USD Drops Below $0.89

Ripple Price Prediction – June 11

The Ripple price is down by 1.28% in the last few hours as the current market value has gone below $0.86.

XRP/USD Market

Key Levels:

Resistance levels: $1.17, $1.27, $1.37

Support levels: $0.60, $0.50, $0.40

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD touches the daily high at $0.89 before giving a bearish signal at the time of writing, the coin is trading below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) keep moving sideways below 45-level. Meanwhile, a break below this level could give the market enough strength to dig dip, but crossing above the 9-day and 21-day moving averages might lead the market to a bullish scenario.

Ripple Price Prediction: Price May Consolidate to the Downside

At the moment, the Ripple price is demonstrating a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 1.28%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Therefore, since the Ripple price is moving bearishly, traders can expect the trend to keep advancing lower if the price actions still remain below 9-day and 21-day MAs.

Meanwhile, a break above the moving averages could strengthen the bulls and could push the price to the resistance levels of $1.17, $1.27, and $1.37, or a breakdown might lead the market in a bearish scenario if the price continues to fade, the price may likely reach the supports at $0.60, $0.50, and $0.40.

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Against BTC, the Ripple price is sliding below the 9-day and 21-day moving averages. Therefore, if the selling pressure continues, the XRP price variation may create another low. At the moment, the technical indicator Relative Strength Index (14) is crossing into the negative side; we may continue to see a negative move in the market as much as the coin continues to trade around the lower boundary of the channel.

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XRPBTC – Daily Chart

However, the Ripple (XRP) is currently hovering at 2292 SAT and if the coin crosses below the channel, traders may expect close support at 2200 SAT before breaking to 1800 SAT and below. More so, should in case a bullish movement occurs and break above the 9-day and 21-day MAs; we can then confirm a bull-run for the market and the nearest resistance levels lie at 2800 SAT and above.

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Ethereum Price Prediction: ETH/USD Defends $2400

Ethereum Price Prediction: ETH/USD Defends $2400

Ethereum Price Prediction – June 10

The Ethereum price sees a 6.57% price fall within the few hours of trading as it drops back towards $2400.

ETH/USD Market

Key Levels:

Resistance levels: $3200, $3400, $3600

Support levels: $1800, $1600, $1400

Ethereum Price Prediction
ETHUSD – Daily Chart

ETH/USD is currently declining and it may likely trade below the lower boundary of the channel. The Ethereum price is holding the $2428 support level, but there is a possibility of sideways movement in the nearest term. The pair is currently consolidating near $2400 and it could decline towards the $2200 support as the technical indicator faces the south. More so, the Ethereum price is struggling to resume higher and it might revisit the $2400 support level before it could climb again.

Ethereum Price Prediction: Will ETH see a further Downside?

If there is an upside break above $2500, the Ethereum price could test the $3000 resistance level. Any further gains might push the price towards the $3200, $3400, and $3600 resistance levels. On the downside, the $2200 level is initial support. If there are more downsides, the price could test the critical support levels of $1800, $1600, and $1400, where the bulls are likely to take a stand.

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In the meantime, ETH/USD is yet to show some positive signs above the $2800 level, but it could dip further in the short term. Having said that, the Ethereum price may likely bounce back above $2600, as long as there is no daily close below $2400. However, the Relative Strength Index (14) is following a sideways movement at 44-level, indicating an indecisive market movement.

Against Bitcoin, the Ethereum price is now trading below the 9-day and 21-day moving averages within the ascending channel as the bears are still dominating the market. ETH/BTC is currently trading at 0.0678 BTC and the bulls couldn’t push the price to the north. Looking at the chart, if the price continues to drop, the next key supports may likely be at 0.056 BTC and below.

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ETHBTC – Daily Chart

In other words, a possible bullish movement could push the market above the 9-day and 21-day moving averages within the channel, a break above this may enable Ethereum price to reach a high of 0.820 BTC and above but the Relative Strength Index (14) is crossing below 50-level, which shows that the market might experience more downtrends.

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Ripple Price Prediction: XRP/USD Moves Sideways as Price Holds $0.90

Ripple Price Prediction: XRP/USD Moves Sideways as Price Holds $0.90

Ripple Price Prediction – June 7

The Ripple price is slightly bullish as the market continues to respect the $0.90 support and likely builds momentum to push to the $1.20 mark next term.

XRP/USD Market

Key Levels:

Resistance levels: $1.20, $1.30, $1.40

Support levels: $0.65, $0.55, $0.45

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XRPUSD – Daily Chart

XRP/USD has been trading sideways since a few days ago, losing around 0.59% during the negotiation today. Looking at the daily chart, our Ripple price prediction proved XRP/USD has been dropping after a bullish rally that occurred yesterday. At the moment, the bulls are making an attempt to come back into the market with a cross above the 9-day and 21-day moving averages, which may head towards the resistance level of $1.00. Meanwhile, the Ripple price prediction shows that the coin hovers below the moving averages.

Ripple Price Prediction: Can Ripple Move Above $1?

The Ripple (XRP) remains the seventh-largest cryptocurrency with a market cap of $43.4 million. The Ripple price has seen a slight increase in the market yesterday and it is currently trading around $0.94. In the meantime, XRP/USD may continue to a sideways movement before any breakout or breakdown of the channel.

Moreover, should in case the Ripple price breaks above the 9-day and 21-day moving averages, the resistance levels of $1.20, $1.30, and $1.40 could be visited. Meanwhile, for a backward movement, the market can be supported at $0.65 and $0.55 and if the price falls below the previous levels, another support is around $0.45 while the Relative Strength Index (14) is moving in the same direction below the 45-level.

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When compares with Bitcoin, the Ripple price is currently changing hands at 2624 SAT and it’s trading around the 9-day and 21-day moving averages. Therefore, if the above-mentioned level can serve as the market support, the Ripple price may likely face the key resistance at 3000 SAT. By reaching this level, XRP/BTC could hit the resistance level of 3300 SAT and above.

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XRPBTC – Daily Chart

However, if the bulls fail to push the price above the 9-day and 21-day MAs, the market may continue its downtrend and the pair could probably record further declines below the lower boundary of the channel. Breaking this barrier could further push the market to the nearest support level of 2100 SAT and below while the signal line of the Relative Strength Index (14) moves in the same direction within the 50-level.

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