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21 June 2021

Price analysis 6/7: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, ICP, BCH

Price analysis 6/7: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, ICP, BCH


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If the price turns down from the current level or the overhead resistance and breaks below the triangle, the pair could witness panic selling.

The price has risen back above the 20-day exponential moving average ($2,743) and the bulls are challenging the resistance line of the triangle.

This level may act as stiff resistance but if the bulls arrest the next decline above the 20-day EMA, it will suggest the downtrend could be over.

Contrary to this assumption, if the price turns down from the current level and slides below $2,550, the ETH/USDT pair could drop to the support line of the triangle.

If buyers succeed in driving the price above this resistance, the BNB/USDT pair could rally to the 50-day SMA ($492) and then to the 78.6% retracement level at $589.04.

Alternatively, if the price turns down from the current level or the overhead resistance and drops below $365, the pair may correct to the trendline.

A breakout and close above this resistance will suggest the start of the next leg of the uptrend.

Contrary to this assumption, if the price turns down from the overhead resistance, it will suggest aggressive selling at higher levels.

If the price turns up from the neckline, the pair could rise to $0.47 and remain stuck between these levels for a few days.

If the price turns down from the current level or the 20-day EMA and breaks below $0.88, the XRP/USDT pair could drop to $0.79 and then to the May 23 low at $0.65.

This is an important resistance to watch out for because a break above it will suggest the downtrend is over.

If the price turns down from the resistance line, the pair may continue to trade inside the channel.

Conversely, if the price turns down from the 20-day EMA or the 50-day SMA, it will suggest that traders are selling on rallies to the moving averages.

If buyers thrust the price above the 20-day EMA and the overhead resistance at $30, the UNI/USDT pair could rise to the 50-day SMA ($32.79).

This bullish view will invalidate if the price turns down and plummets below $21.50.

The negative view will invalidate if the price turns up from the current level and rises above $120.

Conversely, if the price turns up from the current level and breaks above the 20-day EMA, it will suggest buyers are attempting to make a comeback.

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cointelegraph.com
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