Price Prediction 6/17: BTC, ETH, BNB, XRP, SOL, HYPE, DOGE

XRP dropped by almost 2% on Tuesday, but pulled back some of the losses. The pullback was not strong enough to erase the losses, leading to the red in four days.

However, XRP was the only asset hit by the selloff. The global cryptocurrency market cap shed a notable fraction over the last 24 hours. Valuation dropped to $2.21 trillion, Monday’s low.

The crypto market is currently grappling with a slight shift in fundamentals. Price action over the last few minutes suggests investors have moved past it.

Amid the slightly bearish sentiment across the market, some altcoins saw significant increases on Tuesday. One such is SKYAI, which gained a whopping 22% over the last 24 hours. AERO was the second top gainer, rising by over 14%.

Interestingly, Worldcoin continues its uptrend. On the 1-week scale, it is up by over 24%. Looking back, it has maintained its upward momentum for five weeks now. It also returned to levels last seen in January.

It remains to be seen if the broader market will flip bullish in the coming days. However, the US BLS will release the home sale data. Cryptocurrencies rarely react to such reports. The FOMC will make its decision on policy change public on Wednesday.

Most assets in the top 10 are gearing up for another significant move in the next 24 hours. Nonetheless, let’s examine some key levels to watch.

BTC/USD

Bitcoin is trading below $66k, having surged above $67k on Monday. It printed a red candle on Tuesday as it lost its upward momentum, and trades slightly above $65k at the time of writing.

Indicators are yet to react to the recent change. However, the previous session marked the first time in three days it posted losses. Previous price movements indicate that the recent correction began after a failed attempt at $67,500. Interestingly, it experienced the same resistance last week, resulting in a notable decline.

The 4-hour chart points to an increased chance of further decline in the coming days. The relative strength index indicated that the apex coin was overbought a few days ago. The latest retracement followed this reading.

Nonetheless, the metric reveals room for further decline. If that happens, BTC may retrace to the 200 MA at $64,000. Previous price movements indicate that this is a critical level, as failure to stage a rebound could result in a slip to $61k.

ETH/USD

Ethereum faced significant resistance on Monday, resulting in a correction that saw it shed almost half its gains. It attempted a further uptick above $1,800 again on Tuesday, but met stiff resistance.

With selling pressure building at above $1.8k, the likelihood of the altcoin breaking above it within the next 24 hours is slim.  Nonetheless, the 4-hour chart shows a possibility. The bulls are gradually building demand concentration around $1,760.

Ethereum is approaching that level at the time of writing. If the support remains intact, it may bounce off the mark and attempt $1.8k again. Conversely, RSI shows that ETH was previously overbought and may see further declines in the coming days. If it loses the highlighted level, a slip below $1,700 is likely.

BNB/USD

BNB is also approaching a level with notable demand concentration. Since Friday, it has maintained trading above $600. It trades slightly above it at the time of writing, and indicators suggest further decline.

Nonetheless, like XRP, it attained a new seven-day high on Monday. Looking back, one of the confirmations for the previous uptrend was flipping the 200 MA. This time, it is trading below the metric, which may signal a further downtrend.

Previous price movement also suggests that losing $600 may send the coin as low as $580.

XRP/USD

XRP continued its downtrend on Wednesday, dropping by almost 2%. Over the last 24 hours, it edged close to erasing Monday’s gains and is currently approaching its short-term support.

The 4-hour chart shows that the altcoin faced notable resistance shortly after breaking above the 50 MA. It has since been in a decline. Per the moving averages, a drop to the 200 MA at $1.16 will follow after losing $1.20.

The bollinger bands increase the likelihood of such a downtrend as the altcoin dropped below the SMA. The indicators suggest an impending dip to the lower band at $1.12.

Previous price movements point to $1.18 as the last support to prevent such a plummet. In recent times, it was a tough resistance, and flipped later on.

SOL/USD

The likelihood of a drop to $66 went up significantly following the rejection at $76. Solana was rejected from the mark for the second time this week on Tuesday. It continues its downward movement on Wednesday, trading down by a few percent.

However, the 4-hour chart indicates that it’s currently trading at a level with a slight demand correction. If it holds, SOL may surge to its previous high.

Conversely, like XRP, it also broke above its bollinger bands. Based on readings from this indicator, the altcoin may continue its downtrend, dropping to the SMA at $69 and $66 if the bulls fail to defend the middle band.

HYPE/USD

Hyperliquid registered a new all-time high on Tuesday, peaking at $76.8. It broke above the sell zone, but current price action suggests that the hike uptick may be short-lived.

Like XRP, the asset is kicking off the session a little rocky as it’s down by a few percent. Indicators on the 4-hour chart show that the downward momentum may worsen in the coming hours. One such is RSI, which surged above 70 a few hours ago.

With HYPE being overbought, it may see a steeper dip. Additionally, the asset also broke above the bollinger bands. With the upward momentum waning, it dropped to the middle band at $68. However, price action over the last 20 hours shows the asset is rangebound.

It has bounced between $75 and $72. A break below the support will result in a drop to $68. While a break out will result in a new ATH.

DOGE/USD

On the 4-hour scale, DOGE is trading at its short-term support at $0.086. Price action over the last three days shows it trended and rebounded around this mark for an extended period.

If it loses the mark, the altcoin will retrace to $0.083. Conversely, it is trading above bollinger’s lower band, suggesting an increased chance of rebound.

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