Price analysis 6/23: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

Sellers will have to yank the price below the assistance zone to indicate the resumption of the downtrend.On the contrary, if buyers drive the rate above the 20-day EMA, it will recommend that the selling pressure is decreasing. XRP cost analysisXRPs (XRP) healing picked up momentum on June 22 and the bulls kicked the rate above the 20-day EMA ($0.49). Up until then, random range-bound price action is likely to continue.Cardano rate analysisCardanos (ADA) long wick on the June 22 candlestick suggests that the bears are offering the rallies to this level.ADA/ USDT everyday chart. Related: Bitcoin volatility takes a break as $31K BTC price annual highs loomPolygon rate analysisThe bulls pressed Polygon (MATIC) above the breakdown level of $0.69 on June 22 however the long wick on the candlestick reveals that the bears are attempting to safeguard the level.MATIC/ USDT everyday chart. If the cost turns down from the overhead resistance and dips below $0.62, it will suggest that the set might oscillate in between $0.69 and $0.50 for a while longer.Litecoin cost analysisThe bears attempted to make a resurgence on June 21 and 22 by protecting the 50-day SMA ($85) but the bulls kept up the buying pressure in Litecoin (LTC).

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The rush to make an application for a spot Bitcoin (BTC) exchange-traded fund (ETF) rejuvenated the bulls but this news is likely to increase the cost only to a particular range. As the rate moves up, the risks of a crash boost if none of the ETF applications are approved. Trading firm QCP Capital is not convinced that a spot ETF will see the light of the day in the near term.Another viewpoint originated from Gemini co-founder Cameron Winklevoss who stated on June 21 that the “floodgates” for building up Bitcoin are “closing quick.” Similarly, MicroStrategy Executive Chairman Michael Saylor said that the opportunity to “front-run institutional need for Bitcoin” was ending.Daily cryptocurrency market efficiency. Source: Coin360Bitcoin remains the center of attraction as its market supremacy has been hovering near 50%. K33 Research analysis discovered that over the long term, Bitcoin financial investment has far outperformed an altcoin portfolio by a substantial margin. Altcoins had their share of short-term outperformance in 2017 and once again in 2021 but that could not sustain in the long term.Could Bitcoin and the altcoins rise above their respective overhead resistance levels? Lets study the charts of the top-10 cryptocurrencies to find out.Bitcoin rate analysisBitcoin is dealing with resistance at the overhead resistance of $31,000 however the bulls have actually not ceded ground to the bears. This enhances the potential customers of a break above $31,000. BTC/USDT daily chart. Source: TradingViewThe uncertainty of the June 22 Doji candlestick pattern solved to the upside on June 23. Buyers will again try to sustain the rate above $31,000. If they prosper, the BTC/USDT set might initially increase to $32,400 and afterwards make a dash towards the next major resistance at $40,000. The 20-day exponential moving average ($27,561) has shown up and the relative strength index (RSI) remains in the overbought zone, indicating that bulls are in control. If the rate sustains below $28,500, this view will be negated in the near term. The set could then get in a range-bound action between $31,000 and $24,800. Ether rate analysisEther (ETH) is attempting to resume its up-move. The bulls pushed the price above the overhead resistance of $1,928 on June 22 but could not sustain the higher levels.ETH/ USDT everyday chart. Source: TradingViewThe bulls acquired the intraday dips and have once again sent out the price to the overhead resistance at $1,928. It will suggest that lower levels are bring in buyers if this level is scaled. That could boost the prospect of a rally to $2,000 and after that to $2,200. Contrary to this presumption, if the cost when again refuses and breaks below the moving averages, it will recommend that the bears are offering on rallies near $2,000. The ETH/USDT set might then decline to 20-day EMA ($1,804). BNB price analysisBNB (BNB) declined from the 20-day EMA ($255) on June 22, indicating that the sentiment remains unfavorable and traders are selling on rallies.BNB/ USDT everyday chart. Source: TradingViewThe bears will attempt to pull the cost to the very first support at $230 and then to the vital assistance at $220. Sellers will have to pull the price below the assistance zone to signify the resumption of the downtrend.On the contrary, if purchasers drive the price above the 20-day EMA, it will suggest that the selling pressure is minimizing. The BNB/USDT pair might then rise to the breakdown level of $265 and subsequently to the 61.8% Fibonacci retracement level of $272. XRP price analysisXRPs (XRP) recovery picked up momentum on June 22 and the bulls kicked the rate above the 20-day EMA ($0.49). The long wick on the days candlestick reveals that the bears are unlikely to offer up easily.XRP/ USDT day-to-day chart. Source: TradingViewThe flattish 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. That might keep the XRP/USDT pair between the 50-day SMA ($0.47) and the overhead resistance of $0.56 for a few days.The next trending move might start after the bulls overcome the challenge at $0.56 or the bears sink the rate listed below $0.46. Till then, random range-bound rate action is likely to continue.Cardano cost analysisCardanos (ADA) long wick on the June 22 candlestick suggests that the bears are offering the rallies to this level.ADA/ USDT everyday chart. Source: TradingViewBut the bulls remain in no state of mind to offer up. They are again attempting to thrust the rate above the breakdown level of $0.30. It will suggest the start of a stronger healing to the 50-day SMA ($0.34)if they can pull it off. The bears will again attempt to inspect the relief rally at this level.Another possibility is that the rate denies dramatically from the overhead resistance. Such a relocation will boost the potential customers of a debt consolidation between $0.24 and $0.30. The bears will have to pull the ADA/USDT pair below $0.24 to begin the next leg of the downtrend.Dogecoin cost analysisDogecoin (DOGE) turned down dramatically from the overhead resistance of $0.07 on June 22, showing that the bears are securing the level with vigor.DOGE/ USDT everyday chart. Source: TradingViewThe bulls are trying to sustain the rate above the 20-day EMA ($0.06). The DOGE/USDT set might again increase to $0.07 if they handle to do that. A break and close above this level will suggest that the bears are losing their grip. The pair might then reach $0.08 which might prove to be a hard barrier to cross.The 20-day EMA is the key support for the bulls to secure. If this level paves the way, it will recommend that the pair may swing in between $0.06 and $0.07 for some time.Solana cost analysisThe bulls pressed Solana (SOL) above the 20-day EMA ($17) on June 21 but they could not sustain the greater levels. Sellers pulled the rate back listed below the level on June 22. SOL/USDT everyday chart. Source: TradingViewThe instant assistance to look for on the downside is $16.18. The possibility of a break above the 20-day EMA increases if the rate remains above this level. The SOL/USDT set might then rally to $18.70. Rather, if the cost declines and breaks listed below $16.18, it will signify that the bulls have quit and are bailing out of their positions. That might run the risk of a retest of the essential assistance zone between $15.28 and $14.06. Related: Bitcoin volatility takes a break as $31K BTC cost annual highs loomPolygon rate analysisThe bulls pressed Polygon (MATIC) above the breakdown level of $0.69 on June 22 but the long wick on the candlestick shows that the bears are attempting to safeguard the level.MATIC/ USDT day-to-day chart. Source: TradingViewA small favorable in favor of the bulls is that they have not enabled the price to wander much lower from the overhead resistance. This recommends that the bulls are holding on to their positions in expectation of a relocation higher.If purchasers sustain the rate and propel above $0.69, it might begin a stronger healing to the 50-day SMA ($0.80). This level might again act as a difficulty however if cleared, the MATIC/USDT set may soar to $1. If the rate turns down from the overhead resistance and dips below $0.62, it will suggest that the pair might oscillate between $0.69 and $0.50 for a while longer.Litecoin cost analysisThe bears attempted to make a comeback on June 21 and 22 by safeguarding the 50-day SMA ($85) however the bulls kept up the purchasing pressure in Litecoin (LTC). LTC/USDT everyday chart. Source: TradingViewThe 20-day EMA ($82) has actually begun to turn up and the RSI has delved into positive territory, indicating that the bulls are in command. There is a small resistance at $92 but if that is crossed, the LTC/USDT set might rally to the zone between $96 and the resistance line.If bears want to halt the upward march, they will need to rapidly pull the price back listed below the 20-day EMA. If they do that, the set might move to $75. Polkadot price analysisThe long wick on Polkadots (DOT) June 21 and 22 candlestick shows that the bears attempted to stop the healing however the bulls remained in the mood to relent.DOT/ USDT everyday chart. Source: TradingViewThe failure of the bears to sink the price listed below the 20-day EMA ($4.80) reveals that the bulls are attempting to turn this level into support. Purchasers pushed the price to the breakdown level of $5.15 where the bears might once again mount a strong defense. If bulls conquer this difficulty, the DOT/USDT set might rise to $5.56 and then to the downtrend line.Contrarily, if the rate turns down from $5.15 and slips below the 20-day EMA, it will recommend that the bears are active at higher levels. That might keep the pair range-bound in between $5.15 and $4.22 for a few days.This short article does not consist of investment guidance or recommendations. Every financial investment and trading move involves danger, and readers ought to perform their own research study when deciding.
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