11th June - Cryptocurrency Price Analysis
The advantage is with the bulls and BTC getting ready for a big move.
A breakout of $ 9,760 will signal strength and could result in a possible rally to $10,500.
If the rally continues the momentum it can rally to $ 12,000.
Bearish below $ 9,550 and decline to $8,130.58 is likely.
A break below this critical support will turn the trend in favor of the bears.
The price has again dipped back into the $247.827–$233.449 range.
If ETH rebounds $231, the bulls will push the price to $249.699–$253.556 and if successful it can target $280 is likely.
If the bears sink the pair below $ 231, a fall to $ 212 is possible and a possible change in trend will be seen.
Technical chart suggests a balance between supply and demand.
If the bulls break above $ 0.203 the uptrend is likely to begin and with a target to $ 0.2707.
Bears will create a challenge at $0.235688 and again at $0.246094 for upward rally.
Bearish below support of $ 0.201, the target objective is $0.1244.
The bulls are likely to defend the $0.16 and the $0.14 levels aggressively.
Bitcoin Cash has bounced off $248 and if the bulls can sustain the price above $260, a rally to $280.47 is possible.
If bulls rally above $280.47, a new uptrend is likely with a target of $350.
if the BCH pair turns down from $280.47 it will be range-bound.
Bearish scenario below $ 253 where in the bears have control on the bulls and a drop to $200 could be on the cards.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update email@example.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326