Price predictions 6/18: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, SUI, BCH

5 hours ago 2

Key points:

Bitcoin has held above $104,000, but sustained selling could sink the price to $100,000.
Most major altcoins remain range-bound, but a few are threatening to break below the support levels.

Bitcoin (BTC) is witnessing a tough battle between the bulls and the bears near the 50-day simple moving average ($104,269). The bulls are trying to form a higher low while the bears are attempting to sink the price to the psychological support at $100,000.

Bitfinex analysts said in a market report on Tuesday that Bitcoin needs to stay above the $102,000 to $103,000 zone to start a recovery, provided geopolitical risks don’t intensify further. The analysts believe the current environment offers a “high-risk, high-reward opportunity for upside continuation if buyer confidence returns.”

Another bullish voice was that of CryptoQuant contributor Gaah, who said in a “Quicktake” blog post on Tuesday that the Index Bitcoin Cycle Indicators (IBCI) has stabilized near the 50% range, signaling a “neutral point in the market cycle.” Gaah added that Bitcoin was in a transitional phase and not in an exhaustion phase, leaving the door open for further upside.

Could buyers push Bitcoin toward $110,000, or will bears sink the price to $100,000? How are the altcoins set up? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin rose above the 20-day exponential moving average ($105,851) on Monday, but the bulls could not sustain the higher levels. The price turned down and fell to the 50-day SMA on Tuesday.

The 20-day EMA has flattened out, and the relative strength index (RSI) is near the midpoint, signaling a possible range-bound action in the near term. If the price skids below the 50-day SMA, the BTC/USDT pair could plunge to $100,000. Buyers are expected to defend the $100,000 level with all their might because a break below it may sink the pair to $93,000.

On the upside, a break above the 20-day EMA could push the pair to the downtrend line. If this level is cleared, the pair could rise to the neckline of the inverted head-and-shoulders pattern near $112,800.

Ether price prediction

Buyers pushed Ether (ETH) above the 20-day EMA ($2,560) on Monday and Tuesday, but the long wick on the candlesticks shows selling near $2,738.

The flattish 20-day EMA and the RSI near the midpoint signal a possible range-bound action in the near term. The ETH/USDT pair could consolidate between $2,738 and $2,323 for a few days.

If buyers pierce the $2,738 resistance, the likelihood of a rally above $2,879 increases. The pair could soar toward $3,153. This positive view will be invalidated in the near term on a break below $2,323. The pair may then slump to $2,111.

XRP price prediction

Buyers pushed XRP (XRP) above the 50-day SMA ($2.27) on Monday, but the bears halted the recovery at $2.34.

Both moving averages are flattish, and the RSI is just below the midpoint, suggesting a possible range-bound action in the near term. The XRP/USDT pair could remain stuck between $2 and $2.34 for some more time.

Contrary to this assumption, if the price continues lower and breaks below $2, it signals the start of a new down move to $1.61.

Buyers will gain strength on a close above $2.34. The pair may then climb to the overhead resistance at $2.65.

BNB price prediction

Sellers thwarted attempts by the bulls to push BNB (BNB) above the 20-day EMA ($653) on Monday and Tuesday.

The bears will try to strengthen their position by pulling the price below the $634 support. If they do that, the BNB/USDT pair could tumble to $580.

On the contrary, if the price rebounds off $634 with force, it signals solid demand at lower levels. The bulls will have to drive the price above $660 to open the gates for a rally to the overhead resistance of $693. Sellers are expected to vigorously defend the $693 level because a break above it may catapult the pair to $732.

Solana price prediction

Buyers pushed Solana (SOL) above the 20-day EMA ($154) on Monday but could not clear the 50-day SMA ($160) hurdle.

The bears are trying to pull the price down to the $140 support, which is a crucial level to watch out for. If the $140 level breaks down, the SOL/USDT pair will complete a bearish H&S pattern. The pair may then fall to $123 and eventually to $110.

Instead, if the price turns up and breaks above the 50-day SMA, it suggests strong buying near $140. That could keep the pair between $140 and $185 for a while. Buyers will be back in command on a close above $185.

Dogecoin price prediction

Dogecoin (DOGE) is witnessing a tough battle between the buyers and sellers at the $0.16 support.

The downsloping 20-day EMA ($0.18) and the RSI in the negative zone indicate the path of least resistance is to the downside. If the $0.16 support cracks, the DOGE/USDT pair could plunge to $0.14.

Buyers will try to fiercely protect the $0.14 support, but the relief rally is likely to face selling at the 20-day EMA. If the price turns down sharply from the 20-day EMA, the $0.14 support will be at risk of breaking down. If that happens, the pair may collapse to $0.10. Buyers will be back in the driver’s seat on a break above $0.26.

Cardano price prediction

Cardano (ADA) turned down from the 20-day EMA ($0.66) on Monday, indicating a negative sentiment where the bears are selling on relief rallies.

The bulls are trying to defend the $0.60 level, but if the bears prevail, the ADA/USDT pair could descend to the solid support at $0.50. Buyers will attempt to arrest the fall at $0.50 because if they fail in their endeavor, the pair could plummet to $0.40.

If buyers want to prevent the downside, they will have to swiftly push the price above the 50-day SMA ($0.71). If they do that, the pair could rise to the downtrend line, where the bears may pose a substantial challenge.

Hyperliquid price prediction

Buyers repeatedly pushed Hyperliquid (HYPE) above the $42.25 resistance in the past few days but failed to sustain the higher levels.

The bears tried to strengthen their position by pulling the price below the 20-day EMA ($37.93) on Tuesday, but the bulls held their ground. Buyers will again try to close the price above $42.50. If they can pull it off, the HYPE/USDT pair could rise to $45.80 and later to $50.

This positive view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA. The pair could then start a deeper correction toward the 50-day SMA ($31.17).

Sui price prediction

Sui (SUI) turned down from the 20-day EMA ($3.17) on Monday and dipped below the critical support at $2.86.

If the price remains below $2.86, the selling could pick up, and the SUI/USDT pair may nosedive to $2.42. The bulls will try to start a relief rally from $2.42 but may face stiff resistance at the 20-day EMA. If the price turns down from the 20-day EMA, the pair risks falling to $2.

The first sign of strength will be a break and close above the 20-day EMA. The pair could then rise to the 50-day SMA ($3.49).

Bitcoin Cash price prediction

Bitcoin Cash (BCH) closed above the $462 resistance on Monday, but the bulls are struggling to sustain the higher levels.

Sellers are trying to pull the price back below $462. If they manage to do that, the BCH/USDT pair could tumble to the moving averages. Buyers will attempt to arrest the decline at the moving averages. If the price rebounds off the moving averages with strength, the bulls will again try to propel the pair to $500.

On the other hand, a close below the 50-day SMA tilts the advantage in favor of the bears. The pair may then decline to $375.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Read Entire Article