Price Prediction 6/23: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

XRP is recovering from one of its biggest declines in the last thirty days. It sees notable buyback as the bulls rally to buy the coin at a discounted price. 

The asset has seen a 24% increase in trading volume over the last 24 hours, indicating a potential surge in buying pressure. XRP is experiencing a trend similar to that of other top 10 assets. They are seeing notable buyback attempts following the massive declines on Saturday. 

News of the US joining the conflict in the Middle East sparked a massive selloff across the market in the late hours of the previous intraday session. The global cryptocurrency market cap plummeted to $3.11 trillion in response to this news. 

Reactions trailing the latest US involvement reveal a massive disdain for its recent actions. China kicked back, dumping a huge chunk of its US Treasury holdings as many investors expect a stock market dump on Monday. 

Aptos was edging towards recovery on Saturday, surging to a high of $4.69 after opening at $4.27.  The cryptocurrency saw a trend reversal, followed by a massive plummet to $4.06. It was one of the worst-hit assets by the selloffs, and it is yet to rebound as it tested the $4 support a few hours ago. 

Several cryptocurrencies are printing green candles as the bulls struggle to soak up the excess supply. Here are key levels to watch

BTC/USD

Bitcoin peaked at $104k on Saturday as many anticipated as possible return to $106k. However, it lost momentum and hovered around $103k before dipping to $100,945. 

It’s worth noting that its recent low breaks its seven-day trend of rebounding close to $103k. The apex coin spreads fear of a possible decline below $100k in the coming days. Indicators on the 1-day chart, like the average directional index and MACD, are negative, supporting this claim. 

However, the relative strength index reveals a significant increase in buying pressure. The metric is at 42, two points higher than the previous day. Prices have since responded with a slight uptick. BTC may return $104k if the bulls sustain the uptrend. 

ETH/USD

Ethereum was one of the worst-hit cryptocurrencies in the top 10. It retraced from a high of $2,449 and lost the $2,400 support as predicted. It continued downwards, hitting a low of $2,217 (the lowest since May). The largest altcoin closed, with losses exceeding 4%. 

It experienced a similar dip on Sunday, retracing from 2,297 and rebounding at $2,113. The altcoin risk slipping below key levels following its recent dip. Previous price movements suggest possible declines to $1,900 and $1,800 if the bulls fail to sustain the ongoing buyback.

However, ADX suggests that the coin may decline further, potentially breaking below the $2,200 barrier. Its reading coincides with speculation on a recent analysis that hinted at a slip below this mark. RSI shows no indication of a buyback attempt as it continues its downward movement. 

Conversely, Ethereum rebounded off the $2,200 support on Friday. Previous price movement suggests further increases as demand concentration remains high around this mark. 

XRP/USD

XRP retested the $2 support for the first time since April. It broke below the mark on Saturday, hitting a low slightly below it. 

XRP prints a doji at the time of writing as its attempt at reclaiming $2.10 failed. It rebounded from another test of the $2 mark for the second consecutive day. A consistent lingering near this level suggests that the altcoin may slip below it again. It is worth noting that the altcoin retraced to $1.90.

Previous price movement indicates that the highlighted mark is not one of the toughest, and a dip to $1.80 is likely. On the other hand, the bulls cause recovery, sending the coin above $2.15. 

BNB/USD

Binance coin is seeing notable recovery after its massive dip on Sunday. It retraced from $635 and rebounded at $602. It attempted to erase the losses afterward but ended the day with losses exceeding 2%. 

The asset prints a green candle at the time of writing. It is up by almost 2% and edges closer to reclaiming its two-month support at $626. The bollinger bands suggest the asset may continue upward after flipping this mark. Like XRP, it broke out of the bands and will look to resume trading within them.

However, the asset risks slipping below $600. Previous price movements suggest that the altcoin may retrace to $585 after failing to hold the mark. 

SOL/USD

Solana was one of the worst-hit coins by the previous day’s selloffs. It retraced from $137 and broke the $130 support. It continued downward until it rebounded at $126. The asset experienced a significant buyback, which led to a notable recovery, but ultimately ended the day with losses of almost 3%.

SOL is off to a good start on Monday. Following its close above $131 on Sunday, it reached a peak of $135 a few minutes ago. Like XRP, it may see further price increases as it trades close to bollinger’s lower band. The asset may surge higher, edging closer to $140.

However, previous that ended in losses started on a bullish note. The current session may be a repeat of this trend.

DOGE/USD

Dogecoin had its fair share of selloffs. It slipped lower on Sunday after losing the $0.16 support level the previous day. The largest memecoin lost $0.15 and plummeted to a low of $0.142 before rebounding. 

The asset will aim to reverse the substantial 6% loss incurred during the previous intraday session. It is off to a good start, as it has reclaimed $0.15 and is currently trading at $0.152. The relative strength index indicates a significant spike in buying pressure, which may see the coin reclaim $0.16.

The bollinger Bands show that DOGE now trades above the lower band and may edge closer to the SMA; however, the altcoin risks further decline.

ADA/USD

Cardano is printing its first green candle after six days of consistent declines. The altcoin is experiencing a significant surge in buying pressure, as indicated by the RSI.

The reading coincides with the notable increases in trading volume. It remains to be seen if the bulls will sustain the momentum. However, it may continue upwards, edging closer to $0.60. The bollinger band suggests that ADA will see more price increases following its rebound at its lower band.

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