- Bitcoin price action appears to be a constant bombing and dumping activity between the $ 28,575 and $ 31,493 barriers.
- The price of Ethereum remains around the support level of $ 1,731, foreshadowing an explosive break at $ 2,164.
- The price of the ripple is still limited by smaller blocks, but traders want to try the $ 0.455 hurdle again.
The price of Bitcoin has been around for almost a month and shows no signs of exploding any time soon. However, this has not stopped investors from speculating with an upward move to fill the gaps in the CME.
Both Ethereum and Ripple are trying to increase, but are closely related to BTC’s price action.
The price of Bitcoin remains optimistic
The price of Bitcoin has been trading between $ 28,575 and $ 31,493 since May 14. Despite the May 30 attempt to break the deadlock, BTC did not come out or rise. Either way, great cryptography is trying again while re-testing the high end to try to turn it into a support level.
This will set the stage for retesting $ 34,455 and $ 35,187 with a lower obstacle of $ 32,837. Therefore, investors should closely monitor a breakout of the top of the range.
4-hour chart BTC / USD
If the price of Bitcoin does not rise further and is rejected by the high range of $ 31,493, it will affect the bullish narrative. In that case, BTC could sweep the range back up to $ 28,575.
The price of Ethereum remains conscious
The price of Ethereum has stabilized around the support level of $ 1,731 for almost two weeks and shows signs of rising. As the ETH continues to run out, a possible increase in volatility that pushes the price of Ethereum to sweep highs equal to $ 2,020 seems plausible.
However, in some cases, the price of Ethereum could rise and pick up the remaining liquidity above the May 16 high of $ 2,164.
4-hour ETH / USD chart
On the other hand, if the price of Ethereum produces a four-hour candle close to $ 1,700, it will create a lower minimum and invalidate the bullish thesis.
The price of ripple falls back on the line
The price of ripple has been hitting lows since May 13th and it looks like the recent high of June 8th has done just that. As the price of XRP continues to trade at the same time as the price of Bitcoin, this trend is likely to continue.
While the short-term target is $ 0.455, the recent sale of BTC has pushed the price of XRP to follow suit. Consequently, investors should be patient and reassess as the price of Ripple decreases to reach the support level of $ 0.371.
4-hour XRP / USD chart
As things stand for the price of Ripple, a break of the $ 0.371 support barrier will invalidate the bullish thesis. This move could still cause a 7% drop to $ 0.345.