Cardano

Toncoin

Shiba Inu

Avalanche

Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) is gradually moving down toward the support of the $56,552 to $73,777 range it has been stuck in for the past several months. Glassnode lead analyst James Check cautioned traders in a June 19 X post not to fall prey to a “combination of boredom, mini-pumps and mini-dumps” and get <a href="https://cointelegraph.com/news/bitcoin-weighted-sentiment-indicator-fud-price-sideways-crypto-analysts" rel="noopener noreferrer nofollow">shaken out of their positions</a>.
While the near-term Bitcoin price action remains uncertain, analysts are bullish about the long-term prospects. Analysts at research and brokerage firm Bernstein expect strong flows into spot United States Bitcoin exchange-traded funds to <a href="https://cointelegraph.com/news/bernstein-analysts-expect-200k-bitcoin-price-by-2025-due-to-spot-btc-etf-flows" rel="noopener noreferrer nofollow">boost Bitcoin’s price to $200,000</a> by the end of the next year, an upward revision from their previous target of $150,000.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/45db4f9f-1723-4989-ad1a-57f5fc0d76c7.png">
 <figcaption style="text-align: center;">Crypto market data daily view. Source: <a href="https://coin360.com/" target="_blank" rel="noopener noreferrer nofollow">Coin360</a>
 </figcaption>
</figure>
Some analysts expect a correction in the near term but that has not prevented MicroStrategy from <a href="https://cointelegraph.com/news/microstrategy-800-million-convertible-note-offering-bitcoin" rel="noopener noreferrer nofollow">adding more Bitcoin to its stockpile</a>. The firm announced on June 20 that it had purchased 11,931 Bitcoin at an average price of $65,883 per Bitcoin, taking its total to 226,331 Bitcoin. The recently completed $800 million convertible note offering funded the latest purchase.
Could Bitcoin stage a strong recovery in the next few days and pull the cryptocurrency markets higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
<h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
Bitcoin attempted a recovery on June 20, but the long wick on the candlestick shows strong selling by the bears near the moving averages.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/d464491d-f4a3-434e-82dc-6d2d367e9f2e.png">
 <figcaption style="text-align: center;">BTC/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ABTCUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The bears pulled the price below the solid support at $64,602 on June 21, indicating the start of a deeper pullback. If bears sustain the price below $64,602, the selling could pick up, and the BTC/USDT pair may descend to the next significant support at $60,000.
Instead, if the price turns up and closes above $64,602, it will signal aggressive buying at lower levels. The pair may climb to the 20-day exponential moving average ($66,736), which is likely to act as a strong resistance. Buyers will have to overcome this barrier to clear the path for a rally to $70,000 and subsequently to $72,000.
<h2 id="ether-price-analysis">Ether price analysis</h2>
Buyers tried to push Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) above the 20-day EMA ($3,575) on June 20, but the bears held their ground. This suggests that bears remain sellers on relief rallies.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/fb161961-6642-4a57-a529-7c50a7d1a7ba.png">
 <figcaption style="text-align: center;">ETH/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AETHUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The bears will try to strengthen their position further by pulling and maintaining the price below the 50-day simple moving average ($3,458). If they manage to do that, the selling could accelerate, and the pair may dive to $3,000.
If bulls want to prevent the down move, they will have to quickly push and sustain the price above the 20-day EMA. The ETH/USDT pair could then attempt a rally to $3,730 and later to $3,977.
<h2 id="bnb-price-analysis">BNB price analysis</h2>
BNB (<a href="https://cointelegraph.com/binance-coin-price-index" rel="noopener noreferrer nofollow">BNB</a>) has been trading below the moving averages for the past few days, indicating that the bears are maintaining their pressure.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/797de67c-10b4-44a5-b5b7-fe9db6552f76.png">
 <figcaption style="text-align: center;">BNB/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ABNBUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The first support on the downside is $560. If the price rebounds off this level, it will signal that the BNB/USDT pair may remain between $560 and $635 for a while. A break above $635 will suggest that the bulls are back in the game.
On the contrary, if the price breaks below $560, the correction may deepen, and the pair could plunge to $536 and eventually to $495. The bulls are expected to fiercely defend this level.
<h2 id="solana-price-analysis">Solana price analysis</h2>
The bears thwarted efforts by the bulls to push Solana (<a href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow">SOL</a>) back inside the descending channel pattern in the past two days.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/ec548de6-6dbc-4d8a-a888-e3459b0597d1.png">
 <figcaption style="text-align: center;">SOL/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ASOLUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
This suggests that the bears have flipped the support line into resistance. A break below $128 could sink the SOL/USDT pair to the solid support at $116. Buyers are expected to defend this level with vigor.
The first sign of strength will be a break and close above the 20-day EMA ($148). The bulls will have to push the price above the resistance line to open the doors for a rally to $176 and then $188.
<h2 id="xrp-price-analysis">XRP price analysis</h2>
XRP (<a href="https://cointelegraph.com/xrp-price-index" rel="noopener noreferrer nofollow">XRP</a>) has been trading between the 50-day SMA ($0.51) and the vital support at $0.46 for several days.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/06849f31-dcfe-4c7f-887a-483b593aa56e.png">
 <figcaption style="text-align: center;">XRP/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AXRPUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
A minor positive in favor of the bulls is that they are trying to push the price above the 20-day EMA ($0.50). If they manage to do that, the possibility of a break above the 50-day SMA increases. The XRP/USDT pair could then rally to $0.57.
The critical level to watch on the downside is $0.46. If this level gives way, the pair may tumble to the pivotal level of $0.41. The bulls are expected to buy in the zone between $0.46 and $0.41.
<h2 id="dogecoin-price-analysis">Dogecoin price analysis</h2>
The bulls have held Dogecoin (<a href="https://cointelegraph.com/doge-price-index" rel="noopener noreferrer nofollow">DOGE</a>) above the crucial support of $0.12 for the past three days but they failed to start a strong rebound.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/aa8876b8-4770-4af9-8d10-ddf9006444d4.png">
 <figcaption style="text-align: center;">DOGE/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ADOGEUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The downsloping 20-day EMA ($0.14) and the RSI near the oversold zone suggest that the bears are in command. If the $0.12 support breaks down, the DOGE/USDT pair could start declining to $0.08.
This negative view will be invalidated in the near term if the price turns up from the current level and breaks above the 20-day EMA. That will suggest the consolidation to continue for a few more days.
<h2 id="toncoin-price-analysis">Toncoin price analysis</h2>
Toncoin (TON) is attempting a rebound off the 50-day SMA ($6.76), signaling that the bulls are aggressively defending the level.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/46377271-6586-484f-9456-702bb41e76d5.png">
 <figcaption style="text-align: center;">TON/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=OKX%3AtonUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
If buyers shove the price above the 20-day EMA ($7.23), it will suggest the start of a relief rally to $7.67. This level may again attract selling by the bears, but if the bulls overcome this resistance, the TON/USDT pair may rise to $8.29.
The critical level to watch on the downside is the 50-day SMA. A break and close below this support will suggest the start of a deeper correction. The pair may slump to $6, and after that, to $5.50.
Related: <a href="https://cointelegraph.com/news/why-is-bitcoin-price-down-today" rel="noopener noreferrer nofollow">Why is Bitcoin price down today?</a>
<h2 id="cardano-price-analysis">Cardano price analysis</h2>
Cardano (<a href="https://cointelegraph.com/ada-price-index" rel="noopener noreferrer nofollow">ADA</a>) has been trading in a tight range near the breakdown level of $0.40 for the past few days.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/7d4db8c5-5ca9-4306-af50-91f0ee915649.png">
 <figcaption style="text-align: center;">ADA/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AADAUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
If the price breaks above $0.40, it is again likely to face selling at the moving averages. However, if the bulls prevail, it will suggest the start of a robust recovery. The ADA/USDT pair could rise to $0.50, where the bears may pose a strong challenge.
Contrary to this assumption, if the price turns down from $0.40 or the moving averages and breaks below $0.35, it will indicate that the bears hold the edge. The pair may then plunge to $0.28.
<h2 id="shiba-inu-price-analysis">Shiba Inu price analysis</h2>
The bulls are protecting the $0.000017 level in Shiba Inu (<a href="https://cointelegraph.com/shiba-inu-price-index" rel="noopener noreferrer nofollow">SHIB</a>) but have failed to start a strong rebound. This suggests a lack of aggressive buying at current levels.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/3be62f78-e69c-446e-ba88-180b2040da3c.png">
 <figcaption style="text-align: center;">SHIB/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AshibUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The downsloping 20-day EMA ($0.000021) and the RSI in the oversold zone suggest that the path of least resistance is to the downside. If the $0.000017 level cracks, the SHIB/USDT pair may plummet to $0.000014.
If bulls want to prevent the downside, they will have to swiftly drive the price above the 20-day EMA. If they do that, it will suggest that the markets have rejected the breakdown. The up move may pick up pace above the 50-day SMA ($0.000023).
<h2 id="avalanche-price-analysis">Avalanche price analysis</h2>
The bulls are attempting a recovery in Avalanche (<a href="https://cointelegraph.com/avalanche-price-index" rel="noopener noreferrer nofollow">AVAX</a>), which is facing selling at the breakdown level of $29.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-06/0b2aab45-5ff4-45da-bc41-e6a8f00791cc.png">
 <figcaption style="text-align: center;">AVAX/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AavaxUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
If the price turns down from $29, it will signal that the bears have flipped the level into resistance. That will increase the possibility of a drop below $25. If that happens, the AVAX/USDT pair could slide to $20.
Buyers will have to push the price above the 20-day EMA ($30.95) to weaken the selling pressure. The pair may then climb to the 50-day SMA ($34.39), suggesting that the breakdown below $29 could have been a bear trap.
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.

Price analysis 6/21: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, SHIB, AVAX

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