Crypto Price Analysis 6/14: 100 SMA could trigger sharp drop for Bitcoin plus XRP, ETH, LTC, BSV, BNB

Bitcoin risks falling after breaking below an important ascending channel while the technical picture of some leading altcoins is not too positive.

Bitcoin

Over the past week, Bitcoin price has failed to settle above the $ 10,000 resistance area. BTC traded as high as $ 9,989 and began a major decline below $ 9,900 and $ 9,800.

The bears took control and could dive the price below the support of $ 9,500 and 100 SMA (4 hours). The decline began after a break below an important ascending channel with support near $ 9,780 on the 4-hour chart of the BTC / USD pair.

Crypto Price Analysis 6.14 BTC

Source: TradingView

The decline led the pair to break support of $ 9,200 and trade as low as $ 9,084. Bitcoin is currently correcting higher and trading above $ 9,300.

It has surpassed the Fib 23.6% retracement of the decline from a high of $ 9,989 to a low of $ 9,084. On the other hand, the initial resistances are near $ 9,500 and $ 9,540.

The Fib 50% retracement of the decline from a high of $ 9,989 to a low of $ 9,084 is also near $ 9,537. The first major resistance levels are near $ 9,600 and the 100 SMA (4 hours).

There is also a major bearish trend line forming with resistance near $ 9,770 on the same chart. Therefore, the price must break 100 SMA (4 hours) and then the trend line to move into positive territory.

If Bitcoin fails to clear the resistance zone of $ 9,500 or 100 SMA (4 hours), it can continue to drop below $ 9,400.

The first major support is seen near $ 9,300, below which a retest of the $ 9,080 zone is possible. The major support is viewed near the $ 9,000 level, where the bulls could defend strongly.

ETH

Over the past week, Ethereum price has failed to settle above the $ 250 resistance level. As a result, ETH plunged below the support levels of $ 245 and $ 240.

The decline begins after a break below an important ascending channel with support at $ 244 on the 4-hour chart of ETH / USD. The pair even broke support levels of $ 230 and 100 SMA (4 hours).

Source: TradingView

Ether price traded as low as $ 225 and have recently started to adjust upward. It has broken the $ 230 and $ 232 resistance levels. However, the bulls are currently facing barriers near the $ 238 level or the Fib 50% retracement of the recent decline from a high of $ 250 to a low of $ 225.

There appears to be an important hurdle forming near the $ 238 and $ 240 levels. The Fib 61.8% retracement of the recent decline from a high of $ 250 to a low of $ 225 is also close to $ 241.

A successful break above the $ 240 resistance zone is likely to push price into the positive territory. The next resistance level is near the $ 250 level, above which the price could rise to $ 265.

On the other hand, there is a pretty good support forming near $ 234 and 100 SMA (4 hours). If Ethereum does not exceed the support level of $ 234, it may continue to drop below $ 230.

Major support is near $ 225 and $ 222, below which ETH is likely to accelerate to the support levels of $ 205 and $ 200.

XRP

Yesterday morning, Ripple‘s XRP continued to recover to $ 0.195. However, the buying volume was below the average and the pair turned to consolidation with the support at $ 0.191.

Source: TradingView

Today, the movement in the party hallway may continue. Even an average bullish impulse can save the situation and return the price to its Control Point (POC) line ($ 0.204). From this POC line, buyers can continue to dive price back to the $ 0.213 resistance level. However, the bears can still strengthen the attack and then the pair will return to the descending purple channel. The support of $ 0.170 can keep the market from slipping into the next local downtrend.

BSV

Yesterday, BSV price did not escape the pressure of the bear when it was rejected with the other top 10 coins. Although over the past 24 hours, price have increased marginally by 0.53% but have still fallen by 6.22% throughout the week.

Crypto Price Analysis 6.14 BSV

Source: TradingView

Looking at the daily chart, $ 180 level has served as a strong support for a considerable amount of time. At the moment, BSV is trading above it; However, the lowering of the height is a sign of the upcoming decline.
In this particular case, the bulls need to focus on $ 180. If the bears could break and correct below this level, the next level to watch is $ 170. However, it is more likely that the price will retest the top of the falling channel at $ 190, then a fall to $ 170.

LTC

After the sudden market crash in March, Bitcoin was resilient enough to return to an annual high of $ 10,400, albeit briefly. However, the LTC did not register the same level of endurance, as it continued to consolidate quite far below the yearly high of $ 84. Now it seems that the situation has not improved much for LTC and a constant struggle is evident under the downward pressure on the charts.

Crypto Price Analysis LTC 2

Source: TradingView

As illustrated by the charts, the main problem with the LTC price hike story is the inability to soar above the MA 200 (orange line). On the contrary, both Bitcoin and Ethereum have been trying to maintain a positive trend on their MA lines on the charts for the past few weeks.

At the time of writing, LTC price continued to move in the trend lines of an ascending channel. At first glance, a bearish breakout is about to occur when the price is constantly moving below the MA line of the channel pattern.

Considering the possibility of a breakout, LTC may be likely to fall below its support at $41 – $40, a range held since the beginning of May. A rapid rise to the resistance level at $ 48 may appear in the next two weeks, but is unlikely to break the target. Strong support below $ 40 remains at $ 36.

At the time of writing, the RSI is showing a glimmer of hope when buying pressure holds it above 41. However, any move below this level will likely bring it down to $ 36.

Crypto Price Analysis LTC 3

Source: TradingView

As for the Fibonacci retracement level, LTC has been close to the level of 0.618 at $ 44 since the end of April. However, considering the decline, a expected position below 0.5 ($ 39) could appear by the end of June 2020. A deeper pullback will eventually bring cryptocurrency assets close to 0.382.

Moreover, the bearish nature of the MACD, as the red line is hovering above the blue line, is likely to reduce optimism in the market.

BNB

The technical picture of BNB is not too positive. It has lost 6% since last week.

Source: TradingView

Looking at the daily chart, BNB has increased but it is not accompanied by an increase in trading volume. Moreover, the volume has recently begun to decline, which is not good for the expansion trend. There are also long discount candles with virtually no wicks, indicating that the March 2020 bull run is about to end. The support of $ 16 is the first stop for the bears.

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