Crypto Price Analysis 6/26 – BTC, ETH, SOL, BNB, TON, AVAX, ICP, APT, ATOM
The post Crypto Price Analysis 6/26 – BTC, ETH, SOL, BNB, TON, AVAX, ICP, APT, ATOM appeared on BitcoinEthereumNews.com.
The Bitcoin (BTC) price had rebounded above the $62,000 mark. However, traders are unsure if the cryptocurrency’s downturn is over. BTC is currently trading at $61,773. BTC hit a six-week low on Monday, dropping as low as $58,474 before buyers propped the price to $60.330. Analysts Predict Drop To $50,000 Some Bitcoin analysts have predicted the cryptocurrency could drop to $50,000. According to Markus Thielen, founder of 10x Research, Bitcoin appears to be following a double-top pattern and is currently testing its support level. A double-top pattern is formed when the price reaches two similar peaks, with a dip between them. The price maintains support above the common line, also known as the neckline, and typically falls by an amount equal to the distance between the two price peaks and the neckline. “Bitcoin could shift from its current range trading (60,000-70,000) into a topping formation, potentially leading to a steeper decline. As we’ve observed over the past three months, range trading is a complex phase, often marked by several false breakouts.” Thielen added that despite the potential positive impact of the US elections, BTC could experience an even steeper correction. Bitcoin (BTC) Price Analysis The Bitcoin price dropped to $58,474 on June 24, hitting a six-week low before buyers stepped in and pushed it back above $60,000. BTC eventually finished Monday at $60,330, down by 4.48%. However, Bitcoin has strong support at the $60,000 level, and with buyer interest rekindled at this level, the price rebounded on Tuesday, registering an increase of 2.52% and rising to $61,848. The current session sees BTC down marginally and trading at $61,628. Source: TradingView As mentioned earlier, Bitcoin has a strong level of support at $60,000. Should sellers take control, BTC could drop to $60,000, and the price could stabilize as buyers enter the…
Filed under: News - @ June 27, 2024 9:14 am