Technical analysis of Bitcoin, Ethereum, Binance Coin, Cardano, Dodge Coin, Ripple, Polkadot, Bitcoin Cash, Uniswap and Litecoin prices for today (June 4) is as follows:
Specific bitcoin price technical analysis
The price of Bitcoin fell below $ 33,496 on Sunday, but traders failed to lower the price to the bottom of May 19 (May 29). Kendall’s joy on Sunday indicates that buyers were buying heavily on the price floor.
Currently, buyers are trying to revive the price. In this regard, they managed to push the price of bitcoin to the top of the downtrend line. If the high price of this trend line stabilizes, we may see an increase to $ 42,000. After this range, the next target will be the 20-day moving average (EMA20) at $ 44,965.
If the price falls below the 20-day moving average, it indicates that market sentiment is negative and traders are trading in rallies. This could push the price of Bitcoin from $ 28,850 to $ 45,000 for a few days.
On the other hand, if the price does not stabilize above the downtrend line, it indicates that traders are also selling in small rallies. This raises the possibility of reaching $ 28,850 again. Breaking this range will probably lead to a drop to $ 20,000.
- Resistances: 42,000 – 44,965
- Supports: 28,850 – 20,000
Specific Ethereum Price Technical Analysis
Ethereum fell below $ 19,801 on Sunday, May 19, but the daily candlelight shows that buyers were buying in large volumes. Buyers expected the market to recover positively yesterday, which is a positive sign.
Ethereum is likely to hit Fibonacci 38.2 at $ 2,724. We are expected to see strong resistance in this area. Moving averages are not far from forming a bearish intersection, and on the other hand, the relative strength index (RSI) is in the negative range, which indicates the superiority of sellers over buyers.
If the price falls below $ 2,724, it is likely that sellers will try to continue the downtrend again. Breaking the price and reaching below $ 1,703 may pave the way for further falls to $ 1,547 and $ 1,289.
If the price reaches above the 20-day moving average at $ 2,959 and closes there, it will be the first positive sign in the market. In this case, it can be said that the downtrend is over.
- Resistances: 2,724 – 2,959
- Supports: 1,703 – 1,547 – 1,289
Specific technical analysis of Binance coin price
Binance coin fell below $ 233 on Sunday. This move led to a 100 percent correction of the leap that began on March 26 (April 6).
Buyers are trying to start a bearish trend and may face resistance at the $ 348 level. The next resistance is at $ 428. Moving averages are a bearish cross and the relative strength index is in the saturation range, which indicates the upper hand of sellers.
If the price of Binance Coin falls from the resistance, sellers will try to continue the downtrend again. If sellers break the $ 211 to $ 200 support area, one can expect the selling pressure to intensify, which could lower the price of Binance Coin to $ 120.
On the other hand, if buyers support $ 211 in the next fall, it means that the correction is over and this digital currency can start the flooring process.
- Resistances: 348 – 428
- Supports: 211 – 200 – 120
Specific technical analysis of Cardano price
Cardano hit close to $ 1 on Sunday, and Kendall’s high daily joy indicates that buyers have made heavy purchases. This can turn $ 1 into significant support.
Buyers are currently looking for price highs at $ 1.48. If successful, Cardano could move toward a 20-day moving average at $ 1.62. There, sellers are likely to face strong resistance.
If the price falls from this resistance, it can be said that the sentiment in the market continues to decline and there is a possibility of falling to the range of $ 1.63 to $ 1.
In addition, if buyers push the price above the 20-day moving average, one can expect a rally of up to $ 1.94. The next target in this uptrend is to break the price peak at $ 2.34. Breaking the price below the support level of $ 1 to $ 0.95 can also cause emotional sales in the market.
- Resistances: 1.48 – 1.62 – 1.94 – 2.34
- Supports: 1-0.95
Dogecoin Specific Technical Analysis of Price
The Dogecoin was up $ 0.33 from May 20 to May 22 above the 50-day moving average (SMA50), but fell below that level on Sunday. Buyers, meanwhile, have been buying at the floor and are now looking to push the price above the simple moving average of 50 days.
The price recovery rally is likely to face heavy resistance near the downtrend line and then on the 20-day moving average at $ 0.4. If the price falls from any of these resistances, sellers will try again to break the $ 0.21 support.
In this case, the price of Dogecoin may fall to $ 0.15 and then to $ 0.1. The 20-day moving average has a downward slope and the relative strength index shows 44, which indicates more strength of sellers in the market.
If buyers raise the price above the 20-day moving average, the above analysis will lose its credibility. In this case, the rally is likely to be $ 0.47 and then $ 0.59.
- Resistances: 0.4 – 0.47 – 0.59
- Supports: 0.21 – 0.15 – 0.1
Specific technical analysis of Ripple price
Ripple fell below $ 0.88 on Sunday; This can be considered a sign of more power of sellers. However, buyers did not give up and were still looking to raise the price to $ 0.88. If the price stabilizes above this range, there is a possibility of rising to the 20-day moving average at $ 1.22.
Vendors are likely to seek protection from the 20-day moving average. If the price falls in this area, it is likely to fall to $ 0.88 and then to $ 0.65. Breaking the price below this support could lead to Ripple reaching $ 0.56.
On the other hand, if buyers raise the price to the moving average, one can expect to climb to the downtrend line. Breaking and stabilizing the high price of this trend line can be considered as a sign of the end of the downtrend.
- Resistances: 0.88 – 1.22
- Supports: 0.65 – 0.56
Dedicated technical analysis of Polkadot price
After Polkadot tried to cross the $ 26.5 mark on May 20 and 21, buyers took advantage, and on May 22nd, they further reduced the price of Polkadot. On Sunday, we saw the Pulkadat fall to $ 13.63, but buyers recorded a high joy in the daily candle by buying on the floor.
Buyers continued the recovery yesterday and finally the price reached $ 26.5. If the price falls in this area, but stays above $ 15, we can expect fluctuations in a fixed range for the next few days.
A break of $ 26.5 and the closing of the high price in this area will be the first sign of the strength of the price acceleration. If buyers can raise the price to the 20-day moving average at $ 31.93, the situation will be in their favor.
On the other hand, if the price falls below the support area of $ 13.63 to $ 15, it is likely to fall to $ 7.98.
- Resistances: 26.5 – 31.93
- Supports: 15 – 13.63 – 7.98
Specific technical analysis of bitcoin cache prices
The price of bitcoin cache has fallen sharply in recent days. Bitcoin Cash, which hit a high of $ 1,638 on May 12, fell to $ 467.58 on Sunday; In other words, in a short period of time, the price of Bitcoin Cash lost 71% of its value. It is usually reasonable to expect a pullback in such a severe fall.
If buyers are able to stabilize the price above $ 686, the recovery to Fibonacci 38.2 is likely to continue in the $ 914 area. There is heavy resistance in this area, but if buyers can cross it, the bitcoin cache is likely to jump to $ 1,100.
On the other hand, if the price falls from $ 914, we will see fluctuations in the range of $ 914 to $ 467 for a few days. Breaking $ 442 and stabilizing below this area will have a strong negative impact on the market and the price may fall to $ 370.
- Resistances: 686 – 914 – 1,100
- Supports: 467 – 442 – 370
Specific technical analysis of Uniswap price
The Uniswap price fell below $ 17.5 to $ 16 on Sunday, breaking the $ 13 floor. However, Kendall’s long joy shows that buyers bought at the price floor.
The Uniswap price started its rally yesterday and rose to 38.2% in the $ 25.22 area of Fibonacci. The downward slope of moving averages and the relative strength index in the buy saturation range indicate that sellers have a higher hand in the market.
If the price falls below $ 25.22, sellers will try again to continue the downward trend. Lowering the price below $ 13 may pave the way for further support at $ 10.
In addition, breaking $ 25.22 could push the 20-day moving average to $ 30.25. We are likely to see heavy resistance in this area, but if buyers can push the price to the top, the next destination will be $ 36.
- Resistances: 25.22 – 30.25 – 36
- Supports: 13-10
Specific technical analysis of Litecoin price
The Litecoin price jumped from $ 118 on Sunday, indicating that buyers were buying on the floor. Buyers yesterday also tried to continue the uptrend. If they manage to stabilize the price above $ 186, the probability of a rise to Fibonacci 38.2% will rise to $ 230.
The downward slope of the 20-day moving average at $ 246 and the relative strength of the sell-off indicate that sellers have more control over the market. If the price falls from this resistance, sellers will probably try again to bring the price below $ 118.
If successful, the price of Litecoin could drop to $ 95 and then to $ 80. This downtrend will be invalid if buyers push the price above the moving averages. In that case, there is a 61.8% chance of a rally to Fibonacci at $ 300.
- Resistances: 230 – 246 – 300
- Supports: 118-95-80