Price analysis 6/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB - allrealinfor

 BTC and altcoins glow green at weekly openings, but high resistance levels will continue to challenge in the short term.

For nine consecutive weeks of red candlelight, Bitcoin (BTC) issued a weekly green candle on June 5. Earlier this week, buyers stepped up their efforts with a strong weekly opening that increased the BTC price to $ 31,800.

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Going forward, retailers may take a closer look at the May Consumer Price Index (CPI) data, which is due June 10. relocation of United States Federal Reserve.

Analysts are divided over the next Bitcoin move. While some believe the floor is made, others expect another leg down. For analyst Bob Loukas, the summer price action may remain unpopular and he expects the new cycle to begin by the end of the year.

Can bulls keep high levels or bears that will trade violently and lower prices? Let’s read the top 10 charts of cryptocurrencies to find out

BTC/USDT

After two short days on June 4 and 5, the scope expanded on June 6 and Bitcoin rose above the 20-day descriptive moving average (E ($ 30,510).

The price action of the past few days has created a rising triangle pattern, which will end during the break and close above $ 32,659. When that happens, the BTC / USDT pair can start a new movement. The target pattern for a triangle break is $ 38,618.

The 20-day EMA is flat and the relative strength index (RSI) is near the center, which suggests that trading pressure drops.

This good idea may not work if the price drops sharply and falls below the triangular trendline line. The couple may fall into a strong support at $ 28,630 where the bulls may try to tie the downside. The rest and closing below of this support can divert profits by harvesting bears.

ETH/USDT

Ether (ETH) hit $ 1,737 on June 3, indicating that bulls are trying to secure a significant support of $ 1,700. Buyers are trying to push the price beyond the 20-day EMA resistance ($ 1,930) on June 6th.

If successful, the ETH / USDT pair can gain momentum and hover at $ 2,016. Above this level, the couple can achieve strong overhead resistance at $ 2,159. Bears are likely to defend this level with violence. If the price drops to this resistance, the couple can add between $ 2,159 and $ 1,700 for a few more days.

The long line on June 6 candle suggests the bears continue to defend the 20-day EMA. This indicates that emotions are still bad and traders are trading in rallies. The Bears will now try to pull the couple under $ 1,700 and restart the downtrend.

BNB/USDT

The BNB created an equal triangle pattern, showing the distinction between bulls and bears. Bulls try to push the price above the resistance line but the bears are not willing to give up.

If the price turns from higher resistance, the bears will again try to pull the BNB / USDT pair down the support line. If they can do that, the couple can drop to $ 265 where the purchase may occur.

Further, if the bulls push and hold the price above the resistance line, it will suggest that traders are losing their power. The couple can then meet at a split rate of $ 350. This is an important level to keep in mind because a break and a close up may indicate that the downtrend decline may be over

XRP/USDT

Ripple (XRP) traded within a descending triangular pattern. The bulls are trying to push the price above the downtrend line but the bears pose a strong challenge as seen in the long rope on the candlestick of the day.

If the bulls push the price further above the downtrend line, it will contradict the bearish pattern. That may cause short-term congestion, pushing the XRP / USDT pair to $ 0.46 and later to the psychological level at $ 0.50.

Conversely, if the price drops from the downtrend line, the couple can drop to a support of $ 0.38. If the bears pull the price below $ 0.38, the descending triangle pattern will end. The couple may drop to a significant support of $ 0.33. Rest and closure under this support may restart the downtrend.

ADA/USDT

Cardano (ADA) has been holding on to the 20-day EMA ($ 0.56) over the past few days proposing bulk bulls. Purchases were taken June 6 and the bulls are trying to push the price above the 50-day SMA ($ 0.66).

If successful, the ADA / USDT pair can reach a split level of $ 0.74. This level may also be a major obstacle but if the bulls overcome it, recovery may take a toll. The couple can then meet for $ 0.90.

The 20-day EMA is flat and the RSI is more than just the middle ground, raising a small margin for consumers.

This bullish look may not work in the short term if the price drops and falls below the 20-day EMA. When that happens, the couple may slowly slip toward the solid support of $ 0.44.

SOL/USDT

Solana (SOL) dropped below a significant support of $ 37 on June 4 but little good is that bulls were bought at lower levels. This is likely to catch aggressive bears, resulting in strong recovery as reflected in the long tail on a candlestick of the day.

The RSI has made a positive split, indicating that the bearish momentum may decrease. Bulls are trying to raise the price above the 20-day EMA ($ 46). If successful, SOL / USDT pairs can meet up to $ 55 and then up to $ 60.

Conversely, if the price drops from the 20-day EMA, it will suggest that the trend remains negative and bears are trading in circles. The Bears will be making another attempt to start over by pulling the pears under $ 35.

DOGE/USDT

Dogecoin (DOGE) is stuck between the 20 day EMA ($ 0.08) and $ 0.08 in the last few days but this strong trade is unlikely to last long.

If buyers press the price above the 20-day EMA, the DOGE / USDT pair may face psychological opposition for $ 0.10. This level may also be a barrier but if the bulls win, the couple can meet for $ 0.12.

Contrary to this assumption, if the price drops from the 20-day EMA, it will suggest that bears continue to trade in smaller circles. If bears dip in price below $ 0.08, the couple may drop to $ 0.07. Resting and closing below this support will trigger a downtrend resumption.

Related: Is Cardano ready to go for $ 1? The strong fork of June FOMO raises the price of ADA to a weekly high

DOT/USDT

Polkadot (DOT) has created an equal triangle, which often serves as a continuous pattern. Consumers are trying to push the price above the 20-day EMA ($ 10) and challenge the triangle resistance line.

The splitting and closing of the triangle will be the first indication of a possible trend change. The DOT / USDT pair can go up to $ 12 and try to rally at the $ 14 split level. Bears are likely to defend this level with violence.

Otherwise, if the price turns from the above resistance and breaks below the triangle, it will suggest that the bears are in control. The couple may drop to $ 8 and later revisit the May 12 intraday decline of $ 7.30.

AVAX/USDT

Avalanche (AVAX) hit $ 22.14 on June 4, indicating that the bulls are defending the $ 21.35 strong support. Buyers push the price beyond the downtrend line and try to clear the top barrier in the 20-day EMA ($ 28).

If they can do that, AVAX / USDT couples can take the initiative and start their journey north towards $ 33 and then $ 37. Such a move would suggest that the bulls return to the game.

Contrary to this assumption, if the price drops from the 20-day EMA, it will suggest that bears remain operating at higher levels. The couple then managed to slip up to $ 21.35. Rest and closure under this support may start the next leg of the downtrend.

SHIB/USDT

Buyers successfully defended a $ 0.000010 subsidy a few days ago but were unable to push the Shiba Inu (SHIB) over the 20-day EMA ($ 0.000012). This suggests that purchases will stop at higher levels.

Strong trading between $ 0.000010 and a 20-day EMA will probably not last long. If the bears dip a price below $ 0.000010, the SHIB / USDT pair may review the May 12 intraday decline to $ 0.000009. Resting and closing below this level may indicate a resumption of downtrend.

Alternatively, if buyers raise the price above the 20-day EMA, the couple may meet a higher resistance of $ 0.000014. Bears are expected to put on a strong defense at this level.

The views and opinions expressed herein are exclusively to the author and do not reflect the views of Cointelegraph. Every investment and trade movement involves risk. You should do your own research when making a decision.

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