Price Analysis Of Several Cryptocurrencies June 2 -8, 2019

Weekly Crypto Market Wrap

John White
Jun 11 · 7 min read
source : thecoinrepublic

Facebook’s stablecoin is what most are eagerly waiting for as the white paper soon to be released by 18th June 2019, as known through different sources. Undoubtedly, the reason behind the eagerness of wait is due to the fact that Facebook along with WhatsApp and Instagram can connect to millions of people through the Blockchain Cryptocurrency.

“The value of Facebook Coin will be secured with a basket of fiat currencies,”

said Laura McCracken who is the Head of Financial Services and Payment Partnerships for Northern Europe at Facebook.

The interesting news is Igor Sechin who is the head of Rosneft; a Russian Oil Company stated that this project under Facebook can be used to pay to buy crude oil in the future. Although once Venezuela, the largest oil reserves in the world, tried to link Cryptocurrency with crude oil but failed brutally. Keeping aside what happened in the past, Rosneft could bring a big boost to the oil sector with accepting Cryptocurrency payment for oil. With time, there is a great improvement in the Blockchain Cryptocurrency, but how does its price going to benefit the development. Let us look at the price analysis of Cryptocurrencies such as BTC, BCH, BNB, BSV, ETH, EOS, LTC, TRX, XLM, and XRP.

BTC/USD

If the pair comes out of the head at $9,053.12, the model will no longer be perpetual and has to be canceled. If bulls keep the price above 20-day EMA, there is a strong possibility of retesting of the highest values ​​at $9,053.12. It is the bullish sign if the negative pattern fails, therefore, If bulls keep the price high, i.e., above $9,053.12, the possibility of the head is to upsurge to about $10,000.

BCH/USD

BNB/USD

On the other hand, if the BNB / USD pair fails to stay above the 20-day EMA, the bears will again try to immerse it in the 50-day SMA. Since it wasn’t resolutely disrupted without being allowed on 9th May 2019, thus it is great to support. Now it totally depends on the trade with a good risk-to-reward ratio, that we can offer long positions to it or not.

BSV/USD

ETH/USD

EOS/USD

On the contrary, if the bulls are priced above $6.8299, it is possible to rally up to the line resistance of the channel and above it to $8.6503. Merchants can wait for a closing (UTC time frame) over $6.8299 to buy with a stop loss of $5.80. If the price explodes with force and closes (UTC timeframe) near the uplink channel resistance line, merchants have to wait for the download to enter long positions. We do not offer the pursuit of a higher price.

LTC/USD

TRX/USD

Now the bulls will try to return the price back to the resistance of $0.040. The TRX/USD pair can move upward to $0.050 if this level is reduced. If the pair turns down and breaks under the channel support line then the ascending view will be canceled. Such a move could lead to a Cryptocurrency hit to the critical support of $0.02815521.

XLM/USD

On the contrary, the bears will again try to sink under support at $0.11507853, if the XLM / USD pair fails to stay above the 20-day EMA. Interrupting this critical support will be a negative sign and may cause a deeper fall to $0.08558676.

XRP/USD


ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

John White

Written by

ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade