Bitcoin and select altcoins could start a relief rally, but strong resistance overhead and traders' concerns about the strength of the stock market could stall a strong crypto market recovery.
) remains in an up move. The bears tried to start a correction but could not pull the price to the 20-day EMA on June 7, indicating that the bulls are holding strong.The rising 20-day EMA and the RSI in the positive territory indicate that the bulls are in command. Buyers will try to thrust the price above the overhead zone between $0.56 and $0.58. If they succeed, the XRP/USDT pair may start a new uptrend. The pair may first climb to $0.60 and then to $0.80.
If bears want to start a pullback, they will have to tug the price below the 20-day EMA. That may attract profit-booking from short-term traders, and the pair could fall to the 50-day SMA and later to $0.42.The bulls tried to start a relief rally on June 8, but the long wick on the day’s candlestick shows that bears continue to sell Cardano at higher levels.
The first overhead resistance to watch out for is the 20-day EMA . A break and close above this resistance will indicate that the selling pressure may be reducing. Alternatively, if the price continues lower and plummets below $0.30, it will clear the path for a potential decline to $0.24.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin rebound falters amid SEC crackdown on exchanges, raising chance of a BTC price capitulationCrypto investors’ concerns over recent legal action from the SEC continues to weigh on Bitcoin and noshitcoins says it heightens the chance of a BTC price capitulation event.
Read more »
Bitcoin (BTC) Dominance on the Rise as Cardano (ADA) Slips 4% (Market Watch)Aside from ADA, ATOM, GRT, and FIL have also dropped hard in the past 24 hours.
Read more »
'Black Swan' Author Destroys Bitcoin (BTC): 'Cult-Like, Useless, and Dangerous''Black Swan' author Nassim Taleb nntaleb obliterates Bitcoin in a fiery tirade, mercilessly calling $BTC a cult-like tool useless even for money laundering bitcoin btc bitcoinnews nassimtaleb blackswan
Read more »
Price analysis 6/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTCEven after a strong price bounce on June 6, Bitcoin and altcoins are still clearly trading in range-bound patterns that favor bearish traders.
Read more »
US Bitcoin supply fell over 10% in the past year — GlassnodeBitcoin ownership is headed east, away from the U.S., BTC supply research says.
Read more »
BTC, ETH and XRP Price Analysis for June 8Which top coins can stay bullish against bears' pressure? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie boncryp crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
Read more »