Price predictions 6/20: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, BCH, SUI

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Key Points:

• Bitcoin's price remains confined within a defined range, creating uncertainty among traders regarding the direction of the next major market movement.
• Several prominent altcoins are exhibiting signs of weakness, potentially signaling a broader trend reversal in the cryptocurrency market.

Bitcoin (BTC) experienced increased volatility on Friday, yet its price action continues to be restricted within a significant range between $100,000 and $111,980. Market sentiment is currently divided regarding Bitcoin's next potential breakout. A recent poll conducted by crypto analyst Matthew Hyland, inquiring whether Bitcoin would move towards $94,000 or $114,000, revealed a near even split in expectations.

The discourse surrounding Bitcoin on social media platforms is similarly balanced. According to data from crypto research platform Santiment, the ratio of bullish to bearish comments on Bitcoin is approximately 1.03 to 1. The firm's analysis indicates that retail sentiment towards Bitcoin is at its most bearish level since the initial market reaction to tariff announcements on April 6.

Brian Quinlivan, Marketing Director at Santiment, noted in a report that this retail fear could be a promising indicator, as markets often "historically move in the opposite direction of retail’s expectations."

Institutional investor confidence appears to remain robust, as evidenced by the U.S.-based spot Bitcoin exchange-traded funds (ETFs) recording inflows for eight consecutive days, according to data from Farside Investors.

What are the key support and resistance levels that traders should monitor for both Bitcoin and various altcoins? Let's examine the charts of the top 10 cryptocurrencies to identify potential trading opportunities.

Bitcoin Price Prediction

Bitcoin rebounded from its 50-day simple moving average (SMA) at $104,634 on Friday, subsequently rising above the 20-day exponential moving average (EMA) at $105,590. However, the bulls were unable to sustain these higher price levels, as indicated by the long wick on the candlestick.

The bears are expected to attempt to gain control by maintaining the price below the 50-day SMA. If they succeed, the BTC/USDT pair could decline to the psychologically significant level of $100,000. Buyers are anticipated to defend this $100,000 level aggressively, as a failure to do so could trigger a more substantial correction towards $93,000.

Conversely, the bulls will need to sustain the price above the 20-day EMA to signal strength. The pair could then advance towards the downtrend line. Sellers are likely to present significant resistance between the downtrend line and the all-time high of $111,980.

Ether Price Prediction

Ether (ETH) is currently experiencing a squeeze between the 20-day EMA ($2,551) and the 50-day SMA ($2,466), reflecting indecision among buyers and sellers.

The relatively flat 20-day EMA and the Relative Strength Index (RSI) near the midpoint do not provide a clear advantage to either the bulls or the bears. If the price breaks above the 20-day EMA, the ETH/USDT pair could potentially rise to $2,738 and subsequently to $2,879.

Conversely, a break below the 50-day SMA would open the possibility of a decline to the critical support level at $2,323. Buyers are expected to defend this level strongly, as a breach below $2,323 could lead to a further drop towards $2,111.

XRP Price Prediction

Buyers are attempting to push XRP (XRP) above the 20-day SMA ($2.20), but the bears have been holding their ground.

The 20-day EMA has begun to gradually decline, and the RSI is in negative territory, suggesting a slight advantage for the bears. The pair could potentially decline to the $2 level, which represents a crucial support to monitor. If the $2 level is breached, the XRP/USDT pair could fall towards $1.61.

Alternatively, if the price rebounds from the current level or bounces off $2 and breaks above the 50-day SMA ($2.27), it would indicate that the pair may remain within its current range for a longer period.

BNB Price Prediction

BNB (BNB) is currently being squeezed between the 20-day EMA ($652) and the horizontal support at $634, suggesting that a breakout is likely in the near term.

If the price rises and breaks above the 20-day EMA, it would signal that the BNB/USDT pair may remain within the $634 to $693 range for a few more days. The trend will favor the bulls upon a close above $693.

Conversely, a break and close below the $634 support would indicate that the range-bound action has resolved in favor of the bears. This could intensify selling pressure, potentially driving the pair towards the solid support at $580.

Solana Price Prediction

Buyers have maintained Solana (SOL) above the $140 support level but are facing challenges in clearing the hurdle at the 20-day EMA ($152).

A tight consolidation near the $140 support increases the risk of a breakdown. If this occurs, the SOL/USDT pair would complete a head-and-shoulders pattern. The pair may then decline to $123 and subsequently to $110.

Alternatively, if the price rises and breaks above the 20-day EMA, it would signal that the bulls are attempting to keep the pair within the $140 to $185 range for a longer period. Buyers will regain control upon a close above $185.

Dogecoin Price Prediction

Buyers have maintained Dogecoin (DOGE) above the $0.16 level, but the lack of a strong bounce increases the risk of a breakdown.

If the $0.16 level is breached, the DOGE/USDT pair could decline to the critical support at $0.14. A strong bounce off the $0.14 level would suggest aggressive buying by the bulls. A break above the 20-day EMA could keep the pair within the $0.14 to $0.26 range for a while longer.

Contrary to this expectation, if the price continues to decline and breaks below $0.14, it would indicate that the bears have overpowered the bulls. This would open the possibility of a decline to $0.10.

Cardano Price Prediction

Cardano (ADA) is experiencing a tough battle between the bulls and the bears near the $0.60 level.

The declining 20-day EMA ($0.65) and the RSI near the oversold zone suggest an advantage for sellers. If the price remains below $0.60, the ADA/USDT pair could fall to the crucial support at $0.50. Buyers are expected to fiercely defend the $0.50 support, as a failure to do so could sink the pair to $0.40.

The first sign of strength would be a break above the 20-day EMA, suggesting strong buying at lower levels. The pair may then rise to the downtrend line.

Hyperliquid Price Prediction

Hyperliquid (HYPE) declined and broke below the 20-day EMA ($37.61) on Thursday, suggesting profit-taking by short-term bulls.

The bears will attempt to strengthen their position by driving the price towards the 50-day SMA ($31.81). Buyers are expected to vigorously defend the 50-day SMA. If the price rebounds from the 50-day SMA, the relief rally could face selling pressure at the 20-day EMA. If the price declines from the 20-day EMA, the HYPE/USDT pair could plunge to $28.50.

Buyers will need to push and sustain the price above the 20-day EMA to regain control. This would indicate strong demand at lower levels. The bulls will then attempt to push the pair towards $42.50.

Bitcoin Cash Price Prediction

Bitcoin Cash (BCH) rebounded from the $462 level on Thursday and reached the stiff overhead resistance of $500.

Sellers will attempt to defend the $500 level, but if buyers do not relinquish much ground, the possibility of a break above the overhead resistance increases. If this occurs, the BCH/USDT pair could reach $550.

Sellers will need to drive the price below the 20-day EMA ($442) to weaken the bullish momentum. The pair may then decline to the 50-day SMA ($414), which is a crucial support to monitor.

Sui Price Prediction

Sui (SUI) has been trading below the $2.86 support since Tuesday, signaling that the bears have maintained the pressure.

The declining 20-day EMA ($3.10) and the RSI in negative territory indicate an advantage for sellers. If the price dips below $2.68, the SUI/USDT pair could fall to $2.50 and thereafter to $2.

The first sign of strength would be a break and close above the 20-day EMA. Such a move would suggest that the markets have rejected the breakdown below $2.86. The pair may then rise to the 50-day SMA ($3.46).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.