Price Predictions 6/10: BTC, ETH, BNB, XRP, SOL, HYPE, DOGE

HYPE flipped DOGE on the top 100 ranking a few days ago as it went parabolic. It has since registered a new all-time high every day.

However, the general sentiment across the market is catching up to the altcoin as it sees massive losses at the time of writing. It trades down by almost 10% on Friday, having rebounded from a low of $57.

HYPE is currently struggling to establish strong support levels after several days of uptrends. It remains to be seen where demand will pile up.

Nonetheless, the global cryptocurrency market has bled for most of the last fourteen days. Its cap currently sits at $2.11 trillion, over $300 billion lower than it started the previous week. Assets like Bitcoin and Ethereum saw the highest losses as they returned to levels not seen since February.

However, the downtrend has slowed. Trading actions over the last two days show that several cryptocurrencies are establishing new supports after the previous week’s wipeout.

With selling slowing, the crypto market may be gearing for a significant buyback before the week ends. For example, Monero is up by over 5% in the last 24 hours. Aave is also seeing notable increases, gaining over 4%.

Let’s see how some assets in the top 10 will perform in the coming days.

BTC/USD

Following the previous week’s downtrend, Bitcoin has slowed its descent over three days. However, it is down over 2% this week.

It prints a doji on Wednesday following a notable decline the previous day. Nonetheless, it recently retraced to a low of $60,680. Interestingly, this is not the first time it has retested this mark in the last four days.

If prices remain the same at the end of the session, it would mark the third time it bounced off the level. Its recent trend suggests that the bulls are struggling to create notable demand concentration and may stage rallies in the coming days.

The 4-hour chart suggests that this may be the case as the moving average convergence divergence recently displayed a bullish crossover. If the $60k continues to hold, the apex coin may start an uptrend within the next 24 hours.

However, the surge awaits confirmation. At the time of writing, the 200 MA is a tough barrier to crack. Currently sitting close to $63k, a decisive flip may send BTC above $65k. Conversely, if the selling congestion increases at the mark, the asset may retrace below $60k.

ETH/USD

Ethereum is down almost 3% in the last 72 hours. It saw significant selling pressure on Tuesday, which has reduced at the time of writing. The asset also prints a doji, indicating that it retraced lower a few hours ago.

On the 1-day chart, the altcoin is yet to find support. It slipped lower than the previous day’s low, but rebounded. However, on the 4-hour scale, there is slight demand concentration at $1,600.

MACD suggests that ETH may break below this key level in the coming hours. The indicator is close to having a bearish crossover, which may signal further decline. If it loses the mark, it will plunge to $1,540.

BNB/USD

On the 4-hour chart, the previous session was positive as BNB gained over 2%. However, the upward momentum has since waned, and it has fallen almost half its previous gains.

The bollinger bands reveal notable growing selling congestion at the middle band. Over the last 24 hours, the asset has struggled to break above the mark, and the most recent rejection continues the trend.

BNB is currently nearing a retest of the lower band. If the bulls fail to defend the metric, a slip below $570 will follow. Conversely, the likelihood of the coin becoming rangebound, bouncing between the middle and lower band, is increased.

XRP/USD

Over the last 24 hours, the bulls have staged buybacks at $1.10 and are edging closer to making it tough support. However, their resolve is under test at the time of writing as the altcoin is trading at the mark.

If prices fail to rebound, the coin may see further declines in the coming days. Like HYPE, which is currently grappling with notable sell volume, indicators are negative. Bollinger’s lower band remains the last critical level to watch. Once it fails, a drop to $1.04 is likely.

Interestingly, MACD is also negative, supporting predictions of further decline.

SOL/USD

According to the pivot point standard, Solana risks a massive slip in the coming days. On the 4-hour chart, it is trading between two pivot levels: the P and S1. It edged closer to testing the pivot point a few hours ago but failed.

At the time of writing, it is at its short-term support at $63.6. Based on recent price movements, the likelihood of rebounding at the mark is significant. However, if it fails to, it will drop to $61.7. A slip to S1 is also likely.

Increasing the certainty of such a fall is the moving average convergence. It is close to a bearish crossover.

HYPE/USD

HYPE was in free fall over the last three hours, dropping even lower than the previous week. It retraced to $54 and shed over 5% on Wednesday.

It is trading slightly higher than its low, but the risk of slipping lower remains high. The asset experienced rejection above the pivot point on Monday, leading to the recent decline. Current price action suggests it may be heading for S1 at $51.6.

If it fails to rebound at this critical mark, HYPE is likely to drop below $50. Adding to the negative indicators is MACD, which recently had a bearish divergence.

DOGE/USD

Dogecoin was unseated by HYPE in the top 100s two weeks ago. However, both assets are currently experiencing notable selling pressure on Wednesday.

Nonetheless, DOGE maintains trading above its short-term support at $0.083. It has traded above this level for most of the last four days, suggesting growing demand concentration. An attempt at $0.086 may happen within the next 24 hours if the bulls continue to maintain the mark.

However, MACD suggests a reduced chance of this happening. It is edging closer to a bearish divergence, signaling a further downtrend ahead. A slip below $0.080 may soon take place.

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