BITCOIN – BTC/GBP

In our previous analysis we had recommended traders buy the rebound off £21,000 and the market gave two opportunities to buy on June 22 and 26. The stops for this trade can be kept just below £20,000.

Bitcoin is currently facing resistance at the 20-day exponential moving average but the bears have not been able to sink the price back below £23,620. This suggests that the selling pressure may be reducing. Read more

ETHEREUM – ETH/GBP

Ether bounced off the £1,216.19 support on June 22 and again on June 26. This suggests that the bulls are aggressively defending this support. Hence, on the way down, this becomes an important level to watch out for.

The relief rally of the past three days has reached the 20-day EMA where the bulls are facing resistance. However, the 20-day EMA is flattening out and the RSI has risen above 45, indicating that bulls are trying to form a bottom.  Read more

RIPPLE – XRP/GBP

XRP is trading inside a descending channel. Both moving averages are sloping down and the RSI is below 40, indicating that bears are in control.

The XRP/GBP pair bounced off £0.3668 on June 23 but the bulls are struggling to push the price to the breakdown level of £0.53566. This suggests a lack of aggressive buying by the bulls even at these levels as they are not confident that a bottom has been made. Read more

CARDANO – ADA/GBP

Cardano rebounded off the £0.71 support on June 22, suggesting that the bulls are defending this level aggressively. The bulls have not allowed the price to slip and sustain below this support since February 24, hence this becomes an important level to watch out for.

The bounce has reached the 20-day EMA where the bulls are facing resistance from the bears. However, the bulls have not given up much ground, suggesting that the selling pressure is reducing.  Read more

BINANCE – BNB/GBP

Binance Coin bounced off the £160 support on June 22, indicating that buyers are accumulating on dips. The bulls will now try to push the price above the 20-day EMA.

If they manage to sustain the price above this resistance, the BNB/GBP pair could rise to the 50-day SMA and then to £305.44. This level is likely to act as a stiff resistance. . Read more

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WHY IS IT IMPORTANT TO CHOOSE A SAFE CRYPTO WALLET?

As a cryptocurrency investor, one of your key priorities is to keep your investment safe. By choosing the right kind of crypto wallet, you safeguard your money and make sure you have full personal control over what you do with it. Read more