Among the top 9 cryptocurrencies by market capitalization, only the top-ranked Bitcoin has a positive sign. While others Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, IOTA, and TRON have a negative sign. Let’s have a look at the price analysis of the top 9 cryptocurrencies.
Bitcoin Price Analysis (BTC/USD)
Bitcoin BTC/USD is currently trading at $7759 USD (+1.75%) as per Coinmarketcap. It seems that the bulls are trying to break $8600. If it hits that price then there are chances of selling pressure.
Bitcoin was trading at $5750 on 24th June 2018 (as per the graph from Binance). It has recovered a lot from that low price and soon it is going to break the record $8609 of 20th May 2018.
Ethereum Price Analysis (ETH/USD)
Ethereum is still struggling hard to break $500 mark. As per Coinmarketcap Ethereum was trading at $453 USD (-3.04%) at the time of writing this post.
If it slips below $435 then there are chances that it will further slip and have support at $404.48. Ethereum was trading at $729.88 on 20th May 2018.
Ripple Price Analysis (XRP/USD)
It seems that the buyers of Ripple XRP are still not back as it is struggling hard to recover. The XRP/USD pair is currently trading at $0.44 as per Coinmarketcap.
It doesn’t seem that it is soon going to break the $1 mark, so traders are requested to HODL it. Buyers are requested to wait till the price sustain above $0.5.
Bitcoin Cash Analysis (BCH/USD)
The bulls of Bitcoin Cash have successfully defended the 20-day EMA, which is a positive sign. BCH/USD currently trading at $786.15 at the time of writing this post.
It is still struggling hard to hit the price of $1200. Therefore we suggest you to HODL in long-term.
TRON Analysis (TRX/USD)
TRON is on a downward trend and has failed to attract buyers. Recently TRON has launched TronLink which is a Google Chrome extension. TRX/USD pair is currently trading at $0.033 (-5.14%) as per the data from Coinmarketcap.
If the bulls are not going to rise within the next two weeks then the chances of breakdown increases. It can slide to $0.02 if it is not going to recover this week.
The views and opinions expressed here are of the author and do not necessarily reflect the views of koinalert.com. Conduct your own research when making a decision, as every investment and trading move involves risk. The charts for the analysis are provided by Binance.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.