Top 10 Cryptocurrencies Analysis (June 17)
Disclaimer: the cryptocurrency market is extremely volatile so all predictions should be considered as approximate only. Superorder isn’t responsible for any consequences of your trading actions. Always do your own research before making a deal.
Inevitably, we move to the acceptance of cryptocurrencies in the traditional world. During the previous crypto summer, markets moved up due to common people. Now, they tend to grow because of the interest of institutional investors and governments. Bitcoin recently hit $9,000 and now continues rising. Altcoins follow this trend. Most likely, we’re at the beginning of a great uptrend.
Our regular digest includes technical analysis of top 10 coins: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Binance Coin, Bitcoin SV, Stellar, and Cardano. The most recent data can be found at CoinMarketCap. Cryptocurrency charts are derived from our API trading terminal Superorder. You can check the info and trade via this platform. Try now and get 14 days of free trial!
BTC/USD
Resistance levels: $10,000 and $12,000.
Support levels: $8,100 and $7,400.
Trading recommendation: recent breakouts ruined the Head & Shoulders pattern so now bulls have extreme power. We expect some correction moves near $10,000. Now is a good moment to increase your open long positions or open new ones. Just watch for the ascending channel. Breakout of its support level ($8,100) will reverse trends.
ETH/USD
Resistance levels: $280, $322, and $335.
Support levels: $254 and $225.
Trading recommendation: indicators show that bulls are in power, too. The pair has all the chances to move higher so we suggest taking profits near $335. If you don’t have open longs, consider buying some ETH using our crypto trading terminal, for instance.
XRP/USD
Resistance levels: $0.46 and $0.57, and $0.62.
Support levels: $0.38 and $0.35.
Trading recommendation: moving averages and other signals mark that bulls have an advantage. However, an emerging symmetrical triangle means that both up and down movements are possible. Thus, keep your long positions active but use Trailings to move Stop Loss orders toward $0.37.
LTC/USD
Resistance levels: $140, $158, and $184.
Support levels: $122 and $100.
Trading recommendation: similarly, to Bitcoin, this pair moves up in the ascending channel. Bulls are more powerful now. Hence, we recommend maintaining long orders with active Stop Losses just below $122.
BCH/USD
Resistance levels: $450 and $482.
Support levels: $407, $375, $369, and $280.
Trading recommendation: the pair features a weak short-term uptrend so we’d advise to avoid active day trading crypto now. Tech indicators reveal bulls’ advantage, though. Thus, you want to monitor prices and keep longs open.
EOS/USD
Resistance level: $8 and $8.6.
Support levels: $6.7, $6.2, and $4.5.
Trading recommendation: technical analysis shows that bulls have a bit better conditions than bears but not at all. Watch the barrier of $6.8 to know when to close deals. Right now, leave longs active but put necessary Stop Losses at $5.8.
BNB/USD
Resistance levels: $38 and $46.
Support level: $28.
Trading recommendation: the long-term trend is positive, undoubtedly. However, short-term movements are all about consolidation after a great pump. Maintain your longs with Stop Loss orders set at $28. You can use trading automation for better results.
BSV/USD
Resistance levels: $237, $254, $307, and $340.
Support levels: $178 and $134.
Trading recommendation: two moving averages and the RSI are positive for the next cryptocurrency bull run. You may want to increase the long position or open a new one. Don’t forget to use Stop Losses.
XLM/USD
Resistance levels: $0.148 and $0.224.
Support level: $0.115.
Trading recommendation: right now, there’s a strong descending triangle with a clear resistance barrier at $0.13. If bulls are powerful enough to defend positions above this level, they can complete an inverted Head & Shoulders pattern. Thus, we advise buying after sustaining above $0.148 with Stop Losses set at $0.112.
ADA/USD
Resistance levels: $0.1 and $0.22.
Support levels: $0.08 and $0.06.
Trading recommendation: candlesticks reveal that bulls and bears fight severely on this market. Expecting the upcoming full Rounding Bottom pattern, we suggest buying above $0.1 with Stop Losses near $0.073. Because of this highly-promising figure, you can even use some leverage.
