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Cryptocurrency Market Overview - 11 June 2021

Source: Wisebitcoin 2021-06-11

 

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  BTCUSD

TECHNICAL VIEW 

 

 

As could be seen on the chart above, the pair is about to reach a strong resistance level that is 40560. Therefore, we will be waiting for the pair to reach that level and in case it shows up bearish evidence below it, we might go short to target 32200. On the other hand, if the level of 40560 is broken, the pair might continue going upwards to reach 43000.

 

Important Support and Resistance levels

Resistance Levels Support Levels
45000.00 32200.00
42500.00 31000.00
40563.00 29447.00

Recommended:

Waiting for the pair to reach 40560.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

The chart above shows that the pair is about to reach a strong support level that is 2200. Therefore, we will be waiting for the pair to reach that level and in case it shows up bullish evidence above it, we might go long to target 2600. However, if the level of 2200 is broken, the pair might continue going downwards to reach 2100 followed by 2000.

 

Important Support and Resistance levels

Resistance Levels Support Levels
3000.00 2200.00
2800.00 2100.00
2600.00 2000.00

Recommended:

Waiting for the pair to reach 2200.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

The chart above shows that the pair is trading above a strong support level that is 0.8000. Therefore, we are bullish as long as the pair is trading above it. Our targets: 0.9000 followed by 1.0000. On the other hand, if the level of 0.8000 is broken, the pair might continue going downwards to reach 0.7500.

 

Important Support and Resistance levels

Resistance Levels Support Levels
1.0830 0.8000
1.0000 0.7500
0.9000 0.7000

Recommended:

Bullish as long as it is trading above 0.8000 – bearish after a daily close below 0.8000.