Bitcoin Cash and Ripple – Price Analysis

Bitcoin failed to overcome the resistance at $6,800 in its third attempt
Price bounced off resistance and could test support levels at $6,670 during the day
On the 4-hour chart, Bitcoin remains in a bearish channel.
Technical indicators Signals
The 100 SMA is below the longer-term 200 SMA to show that the path of least resistance leads down. The moving averages thus signal that there is sales pressure and that the Bitcoin price could rise towards support levels in the near future. As the resistance stands at $6,800, the price may fall during the day. The bearish channel on the 4-hour chart continues to be active. The channel resistance is amplified by the 100 SMA, so a strong upward movement is necessary to overcome it.

resistance leads down

The RSI confirms the possibility of sales pressure, as it is slightly downward. Interestingly, the RSI has not risen above the 64 level since May 28 (4-hour chart). At the moment we are at 60.8 and judging by the oscillator, it is possible that it will drop to the support level of 54. June 23 may be decisive as the price may approach significantly the channel resistance assuming that the price moves between $6,630 – $6,780 at the current level. Furthermore, the RSI seems to be approaching a triangle formation on 23.06 and could break out. It is also important to keep an eye on the descending channel.

Bitcoin Chart from TradingView

market factors
Yesterday’s headline was the hack from the South Korean crypto currency exchange Bithumb. Although the sum that was stolen „only“ accounts for ten percent of last year’s turnover, another and now third hack by Bithumb in 2018 led to negative headlines and thus harms the legitimacy of the crypto currencies. Charlie Lee described the situation perfectly by tweeting: „A new day, a new hack“.

In addition, Tether had tried to refute the accusations of market manipulation with the following report: Bitcoin course manipulation by tether? Report proves stock coverage

Ethereum Prize Highlights
The Ether price found strong support at $525 and recovered against the US dollar.
Yesterday’s highlighted major bullish trend line with support at $518 is intact on the hourly chart
Ether could recover and target a new high at $545
Technical indicators Signals
After a downward correction below $530, the price found support against the US dollar. The price tested the $520-525 support zone. The most important thing was that the price could hold above $520 and the 100 hours SMA. A new rally was launched and the price climbed above the $530 resistance level. Right now, the price is trading near a large resistance zone testing the $545 level. On the downside, yesterday’s highlighted major bullish trend line is intact with support at $518 on the hourly chart. Before the trend line, the $525 support and the 100-hour SMA could prevent further losses.


Ethereum Chart from TradingView

Ethereum price analysis
Looking at the chart, the price trades with a positive direction above $530. A break above the $548 high could put pressure on sellers and ETH could jump over the $555 mark. The MACD has moved back into the bullish zone. The RSI is now back above the 55 mark and signals a slight buyer market. The highest support level is $518, while the resistance is $548.

Ripple Price Highlights
Ripple remained above support at $0.5250 and recovered against the US dollar
A crucial bullish channel is forming on the hourly chart, with support at $0.5380
XRP is currently on an uptrend and may approach the resistance at $0.5500
Technical indicators Signals
There was a recent downward movement below $0.5300. XRP was trading towards the $0.5250 support where buyers appeared. The price recovered from the $0.5250 support and climbed back above the resistance of $0.5300. The price is currently trading just below the resistance of $0.5500, which is an