July 7, 2022

BTC, ETH and XRP Price Analysis for 17 June

Most of the coins keep trading in the red zone, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 3% over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, the rate of Bitcoin (BTC) has bounced off the $20,000 zone that confirms the bulls’ power. From another point of view, the price is close to the support, which means that it is too early to think about a reversal.RelatedETH, XRP, BNB and ADA Price Analysis for June 14

In this case, the more likely scenario is sideways trading in the range of $20,500-$21,500 for the next few days.

Bitcoin is trading at $21,046 at press time.

ETH/USD

Ethereum (ETH) is the biggest loser from the list today as the main altcoin has dropped by 6%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) is trading similar to BTC as the price is also located near the support level at $1,000. The volume remains low as traders are not ready to buy the coin from the current levels. If bears’ pressure continues and the rate falls below $1,000, there are chances to see the test of the next level at $832 shortly.

Ethereum is trading at $1,090 at press time.

XRP/USD

XRP is an exception to the rule today as its price has gone up by 3.44% over the last 24 hours.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Despite the growth, XRP is trading in the middle of the narrow channel between the support at $0.3040 and the resistance at $0.3644. If bulls can hold the rate above $0.33 by the end of the day, one can expect the test of the $0.35 zone soon.

XRP is trading at $0.33160 at press time.

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