The Crypto Total Market Cap chart is a good indicator to gauge where the market could be heading. By that of course, we still know wherever Bitcoin moves, the rest follow. But key regions can still be identified to see how the overall market is performing.
The Total Market Cap chart shows we met strong resistance initially around $280,000,000 but with a failure to close above $264,000,000 on the daily timeframe.
Repeated attempts were made to rally higher but the bears took control to push lower and find support around $228,000,000.
But how are the Top 3 Crypto’s on the Coin market Cap performing?
And where could we be heading in the month of June?
Bitcoin Price Analysis – Will BTC Fall Lower?
BTC after failing to close above $8,800 saw a 15% drop in price value to around $7,400 which has acted in the short term as support.
Upside targets indicate we could see Bitcoin push to retest $8,250 over the next few days with further momentum attempting to retest $8,600.
Downside targets would mean failure to close above $8,250 could send BTC back to the $7,000 region or below.
The BTC weekly candle would provide a clearer picture of where we could be headed following a candle close.
Keep your eyes peeled!
Ethereum Price Analysis – Can ETH Hold Support At $240?
ETH had a strong month in May rallying from $167 to $290, boasting an impressive 70% increase in price value.
Ethereum has managed to find support around $240 where price seems to be influencing around this region. Upside targets for ETH could mean rally to $270.
However, if we fail to hold support in this region then we could likely see ETH drop to $220.
ETH has been one of the ALT coins which has managed to hold onto a majority of its gain in price and I do predict we could see another strong bullish movement for Ethereum if Bitcoin continues to climb higher.
XRP Price Analysis – XRP In For A Bullish Month In June?
There have been numerous rumors circulating around for Ripple – One being that Ripple recently bought MoneyGram.
Of course, this is all but rumors for the moment but XRP price can significantly move higher with circulating rumors/news so we expect more stories to emerge over the course of June.
XRP in May did rally to highs of around $0.48 but $0.45 seems to be the level of resistance proving to be difficult to close above.
Downside targets could see XRP fall to around $0.35, which is around the 200D EMA.
If XRP continues higher we could see a price of $0.50-$0.56 met.