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

Okay, here's the revised version of the article, focusing on clarity, readability, and removing any potential promotional content while preserving the original format and placeholders:

Key points:

• Bitcoin recovered sharply from $100,000 on June 6, but resistance is anticipated at higher price points.
• Several altcoins maintained their support levels, potentially indicating a period of consolidation in the near future.

Bitcoin (BTC) experienced a significant rebound on June 6, surpassing $105,000, which suggests strong buying interest at lower prices. However, this recovery may encounter selling pressure as the price approaches $109,588. Some analysts have expressed short-term bearish sentiment, anticipating a potential drop below $100,000.

However, the Hash Ribbons indicator, known for its accuracy in identifying long-term price bottoms, recently issued a new buy signal. CryptoQuant contributor Darkfost suggested on X (formerly Twitter) that this signal implies "buying the dip around here is a smart move."

Crypto market data daily view. Source: Coin360

Short-term market uncertainties may be causing apprehension among traders, but several institutions have announced intentions to increase their Bitcoin holdings. MicroStrategy, the largest corporate Bitcoin holder, revealed plans to raise approximately $1 billion for "general corporate purposes, including the acquisition of Bitcoin and for working capital."

Similarly, Metaplanet, sometimes referred to as Japan’s MicroStrategy, has increased its Bitcoin acquisition targets, aiming to possess 100,000 Bitcoin by the end of 2026, an increase from its previous goal of 21,000 Bitcoin.

Can Bitcoin sustain its recovery from $100,000 and subsequently drive altcoins higher? Let's examine the charts of the top 10 cryptocurrencies to gain insight.

Bitcoin price prediction

Bitcoin fell below the 20-day exponential moving average (EMA) of $104,934 on June 5, declining to the critical support level of $100,000.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The strong bounce from the $100,000 level indicates aggressive buying activity. Sellers are likely to present considerable resistance at the 20-day EMA. If the price reverses sharply from the 20-day EMA, the $100,000 level will be at risk of being breached. Should this occur, selling pressure could intensify, potentially leading to a decline to $93,000.

Conversely, a break and close above the 20-day EMA suggests the pair may fluctuate within the $100,000 to $109,588 range for a period. Bears are expected to defend the $109,588 to $111,980 area.

Ether price prediction

Ether (ETH) reversed direction and dropped below the 20-day EMA ($2,515) on June 5, suggesting short-term traders are taking profits.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA is flattening, and the Relative Strength Index (RSI) is near the midpoint, indicating potential range-bound movement in the short term. The ETH/USDT pair may trade between $2,323 and $2,738 for a few more days.

A break and close above $2,738 would signify that bulls have gained control, paving the way for a rally to $3,000 and potentially $3,153. Conversely, a break and close below the $2,323 support could push the pair down to $2,111.

XRP price prediction

XRP (XRP) turned downwards from the moving averages on June 4 and continued toward the key support at $2.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Buyers are anticipated to defend the $2 level strongly, as a break and close below it could signal the start of a downtrend. The XRP/USDT pair could retest the $1.61 level and, below that, potentially fall to $1.27.

If the price rises above the moving averages, it suggests the pair may remain within the $2 to $2.65 range for a while. Buyers will regain control on a close above $2.65.

BNB price prediction

BNB (BNB) dropped below the 20-day EMA ($657) on June 5 and moved toward the 50-day simple moving average (SMA) ($636).

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are attempting to defend the 50-day SMA, but any rebound is likely to encounter selling pressure at the 20-day EMA. If the price turns down sharply from the 20-day EMA, the possibility of a break below the 50-day SMA increases. The BNB/USDT pair could then decline to the support at $580.

Buyers will need to quickly push the price above the 20-day EMA to prevent further downside. The BNB/USDT pair could then rally to $693, which is likely to act as a significant resistance.

Solana price prediction

Solana’s (SOL) inability to rise above the 20-day EMA ($160) on June 3 attracted sellers, pushing the price below the $153 support on June 5.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

Buyers are trying to defend the $140 support, but the relief rally is likely to face resistance at the 20-day EMA. If the price turns down sharply from the 20-day EMA, the likelihood of a break below $140 increases. The SOL/USDT pair could then drop to $120. Buyers are expected to defend the $120 to $110 support zone.

On the upside, the bulls will have to push and maintain the pair above the 20-day EMA to open the door for a rally to $185.

Dogecoin price prediction

Dogecoin (DOGE) has been oscillating within a large range between $0.14 and $0.26 for several days.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

There is minor support at $0.16, but the DOGE/USDT pair could fall to $0.14 if that level is breached. Buyers are expected to defend the $0.14 level, potentially extending the period within the range.

The next significant move could begin on a break below $0.14 or above $0.26. If the $0.14 level breaks down, the pair could decline to $0.10. On the upside, a break above $0.26 could propel the pair to $0.38.

Cardano price prediction

Cardano (ADA) continued its decline, reaching near the support of $0.60 on June 5, indicating that bears are in control.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The bulls have initiated a relief rally, which is expected to face resistance at the 20-day EMA ($0.70). If the price turns down sharply from $0.70, it increases the risk of a break below $0.60. If that happens, the ADA/USDT pair could fall to the support at $0.50.

Contrarily, if buyers drive the price above the moving averages, the next resistance could be the downtrend line. A break and close above this line would suggest the corrective phase may be over.

Hyperliquid price prediction

Sellers pulled Hyperliquid (HYPE) back below $35.73 on June 4, but the bulls successfully defended the 20-day EMA ($32.69) on June 5.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The price action of the past few days has formed a symmetrical triangle pattern, which will complete on a break and close above the downtrend line. If that happens, the HYPE/USDT pair could rally to $42.50 and later to the pattern target of $46.50.

The advantage will shift in favor of the bears if the price turns down and breaks below the triangle. That opens the door for a fall to $30 and subsequently to the breakout level of $28.50.

Sui price prediction

Sui (SUI) was rejected from the 50-day SMA ($3.44) on June 3 and reached the $2.86 support on June 5.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

Buying at $2.86 has initiated a strong bounce, which could reach the 20-day EMA ($3.40). Buyers will have to push and maintain the price above the moving averages to suggest that the correction may be over. The SUI/USDT pair could then attempt a rally to $3.75 and subsequently to $4.25.

Instead, if the price turns down from the 20-day EMA, the bears will again attempt to push the pair below $2.86. If they succeed, the pair could decline to $2.50.

Chainlink price prediction

Chainlink (LINK) fell below the $13.20 level on June 5, suggesting the price may remain within the descending channel pattern for a few days.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are trying to initiate a recovery, but the bears are expected to defend the 20-day EMA ($14.57). If the price turns down sharply from the 20-day EMA, the LINK/USDT pair could decline to $11.89 and later to $10.

This negative view will be invalidated in the near term if the price rises and maintains above the resistance line. That would signal strong buying at lower levels. The pair could then rise to $18, where the bears are expected to present resistance.

Disclaimer: 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.