2nd June - Crypto Price Analysis
(By Shivkumar)
1) BTC/USD
Breakdown of Levels can either be a reversal or can change the trend. Trade once the breakout to occur before initiating a trade.
BTC first sign of weakness would be a drop below $9,261.
Below this level, a drop to the support line $ 8130 is possible.If these level breaks will signal the start of a possible downtrend with a target objective of $6,752.
Bullish if BTC/USD pair bounces off the $ 9260 and breaks $ 9578, a rally to $10,500 and then to $11,828 is possible. The bears are likely to defend $ 10,600 but if this level is crossed, a new uptrend is likely.
2) ETH/USD
Bears are mounting stiff resistance close to $250.
Bulls have not allowed the price to dip below the level of $227 which is a huge positive.
Bullish above $227.097, another attempt to resume the uptrend is likely.
Bulls will rally if breakout above $246.916, to $257 and close to $265.
Bearish from the current levels and drops below $227.097.
3) XRP/USD
Bulls pushed XRP above $0.20570 on May 31 but could not sustain the higher levels.
Bulls are likely to make another attempt to the next level of $0.23612.
Bearish below $ 0.2057 a drop to $0.19130 and then to $0.17372 is possible.
Traders who own buy positions as suggested previous analysis can keep their stop-loss at $0.19 and trail higher if price sustains above $0.20570.
4) BCH/USD
Bitcoin Cash suggests a balance between bulls and bears and stuck inside the $217.55-$255.46 range.
A break above $255.46 can rally to $280.47.
The pair will be range bound for few more days break out of $255.46,
Bearish if break below $217.55 can drag the price to $200, which is critical support.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update shiv@shivfxcrypto.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326
