If the bulls manage to break out of the 20-day EMA, the BTC/USD pair should rally to $7,700 levels.
Though the initial risk to reward ratio is not attractive, we recommended a long position in our previous analysis because we believe that Bitcoin will be range bound and from the current levels, the rally can extend to $8,500 and then to $10,000 on the upside.
If the bulls don't scale above the overhead resistance within a couple of days, the bears will attempt to break down of the $0.45351 levels.
If prices turn down from here and break below the $817.8709 levels, the fall can extend to the next support zone at $777.5304-$736.0137.Above the downtrend line, the bulls might hit a roadblock at the 20-day EMA or just above it.
The EOS/USD pair will turn bearish if it breaks below the $9.0887 levels, which can lead to a fall to $8.On the upside, any attempts to rally will face resistance at the 20-day EMA, the downtrend line, and the 50-day SMA.Therefore, we shall wait for a new buy setup to form before proposing a trade on it.
A breakdown of the $90.994 levels can extend the fall to $84.708 and $75.131.On the other hand, if the bulls succeed in breaking out of the overhead resistance at $107.102, it will confirm that the markets have rejected the lower levels and the digital currency is ready to move up.
The traders can go long on the LTC/USD pair if it breaks out and closes above the $108 levels with the stops below the recent lows.
The target levels on the upside are $127 and $140.ADA/USDCardano has been consolidating close to the $0.16 levels for the past six days.
The recovery attempt on June 19 could not even reach the overhead resistance at $1.33.The IOTA/USD pair will slide to the major support at $0.9150 if it breaks below the June 18th lows of $1.0795.
We anticipate buying to emerge close to the $0.9150 levels as this level has not been broken since November 27 of last year.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 20
Published on Jun 20, 2018
by Cointele | Published on Coinage
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