20th EMA is the goal Virtual currency chart analysis: Bitcoin Ether XRP (Ripple) | Cointelegraph | Cointelegraph Japan

BTC / USDT

Bitcoin plunged below $ 20,000 on June 18th, but recovered sharply on June 19th, indicating that there was an aggressive buy at the downside. If the bulls keep prices above $ 20,000, sentiment will improve and more buyers could be attracted.

BTC / USDT daily chart. Source: TradingView

The BTC / USDT pair will first rise to the Fibonacci retracement 38.2% level of $ 23,024 and then reach the 20-day moving average (EMA: $ 24,890).Bears try to protect this zone with all their might

If the bears turn down from this zone, the bears will try to pull back below $ 20,000. If the price closes below $ 17,622, the next downtrend may begin.

On the other hand, if the bulls break out of the 20th EMA, it suggests the possibility of a trend change. The pair then rises to the 50-day moving average (SMA: $ 29,386), where bears strongly resist.

ETH / USDT

Ether (ETH) broke below the psychological level of $ 1,000 on June 18 and showed a plunge suggesting that the downtrend is continuing. The positive thing is that the bulls bought this squeeze, as you can see from the candlestick under the beard of the day.

ETH / USDT daily chart. Source: TradingView

The bulls maintained their momentum on June 19, pushing prices back to over $ 1,000. The ETH / USDT pair may rise to $ 1,250 and then reach the 20-day EMA ($ 1,429). This is still an important resistance to watch out for.

If prices turn down from current levels or the 20-day EMA, it would suggest that bears are operating at higher prices. In this case, the bears will try to pull the pair to the June 18 daytime low of $ 881. If it falls below this level, it suggests that the downtrend will resume.

Read More:   https://jp.cointelegraph.com/news/dmm-bitcoin-market-report-2022-0418

XRP / USDT

Ripple (XRP) broke below $ 0.29 on June 18, but the bears couldn’t take advantage of it. This suggests that selling is exhausted at the lower price.

XRP / USDT daily chart. Source: TradingView

The bulls try to push prices into the resistance zone just above the 20-day EMA ($ 0.35) and the breakdown level of $ 0.38. The bears are likely to aggressively defend the zone, but if the bulls break through, the XRP / USDT pair could rise to a resistance of $ 0.46.

This positive view can be invalidated if prices turn down from current levels or overhead zones. In that case, the bears will try again to keep the price below $ 0.29.

Translation / Editing Cointelegraph Japan

The views and opinions expressed here are those of the author and do not necessarily reflect the views of Cointelegraph. All investments and trading are risky and require your own research when making decisions.Market data is provided by HitBTC

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