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Cryptocurrency Market Overview - 03 June 2021

Source: Wisebitcoin 2021-06-03

 

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  BTCUSD

TECHNICAL VIEW 

 

 

The pair has been trading in a very tight range for a few weeks. To the upside, we find the level of 40339 as a strong resistance, and to the downside; we find the level of 32500 as support. Therefore, one could wait for the pair to reach one of these levels and then enter the market. (In case, the market shows up evidence of the expected direction).

 

Important Support and Resistance levels

Resistance Levels Support Levels
45000.00 32500.00
43176.00 30000.00
40339.00 29615.00

Recommended:

Waiting for the pair to reach one of the levels mentioned.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 2938. Therefore, we are bearish as long as the pair is trading below it. Our first target is 2400 followed by 2190. However, if the level of 2938 is broken, the pair might continue going upwards to reach 3200.

 

Important Support and Resistance levels

Resistance Levels Support Levels
3200.00 2400.00
2938.00 2190.00
2800.00 2000.00

Recommended:

We are bearish as long as the pair is trading below 2938.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.1000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.9000 followed by 0.8240. However, if the level of 1.1000 is broken, the pair might continue going upwards to reach 1.1994.

 

Important Support and Resistance levels

Resistance Levels Support Levels
1.3000 0.9000
1.1994 0.8240
1.1000 0.7500

Recommended:

We are bearish as long as the pair is trading above 1.0990.