Bitcoin (BTC) created a bullish engulfing candlestick on June 9.
Ethereum (ETH) is buying and selling inside a symmetrical triangle.
XRP (XRP) and Yearn.Finance (YFI) are following descending resistance strains.
Zcash (ZEC) has reclaimed the $120 assist space.
Theta Gasoline (TFUEL) reached a brand new all-time excessive value on June 9.
Qtum (QTUM) has bounced on the $8.40 assist space.
BTC has been rising since rebounding on June 9. Just like Might 19 and 23, it created an extended decrease wick. The subsequent day, it created a bullish engulfing candlestick and has been transferring upwards since.
Nevertheless, technical indicators are offering combined indicators. The RSI adopted up a bullish divergence (blue) with a hidden bearish divergence (purple) and continues to be under 50.
Nonetheless, the Stochastic oscillator has simply made a bullish cross.
The subsequent resistance ranges are discovered at $41,400, $44,900, and $48,400.
Whereas the precise wave depend shouldn’t be clear, each the bearish and bullish counts recommend a short-term enhance in the direction of the primary resistance space will comply with.
ETH has been rising since bouncing on the $2,050 assist on Might 19. Thus far, it’s reached an area excessive of $2,910.
Since Might 20, ETH seems to be buying and selling inside a symmetrical triangle, which is usually thought-about a impartial sample. Moreover, each the RSI and MACD are impartial. The previous has crossed above and under 50 whereas the latter is on the 0-line.
The lower from the all-time highs seems like a five-wave construction. A breakout that travels the complete top of the triangle may take ETH to $3,806. That is the 0.786 Fib retracement resistance degree.
XRP has been rising since Might 23 after it reached an area low of $0.65 and bounced. Thus far, it has reached a excessive of $1.07 on Might 26. It has been lowering alongside a descending resistance line since.
XRP bounced on the 0.618 Fib retracement assist degree on June 8. Relative to the motion on Might 29, it has created a double backside sample.
At the moment, XRP is attempting at breaking out from the resistance line.
If profitable, it could probably revisit the $1.05 space as soon as extra.
On Might 19, ZEC bounced after reaching a low of $105 and reclaimed the $120 assist space shortly after.
At the moment, it’s within the technique of validating the realm as assist as soon as once more. If profitable, it could additionally create the next low within the course of.
Moreover, technical indicators within the day by day time-frame are offering bullish indicators, such because the bullish cross within the Stochastic oscillator. As well as, the MACD histogram is transferring upwards.
The subsequent closest resistance space is discovered at $197.
On June 1, TFUEL broke out from a descending parallel channel. It continued to extend till it reached a brand new all-time excessive value of $0.679 on June 9. It created a taking pictures star candlestick the identical day.
As outlined previously, this was a possible goal for the highest of the upward transfer. If it extends, the subsequent most certainly goal is discovered at $1.02.
Technical indicators are bullish, despite the fact that they’re exhibiting barely overbought circumstances.
YFI has been rising since bouncing on Might 23. The rise took it to $51,963 the subsequent day. Nevertheless, this solely served to validate a descending resistance line, which has been in place since Might 19.
Since then, the resistance line has rejected YFI three extra occasions. Moreover, it’s potential that YFI is buying and selling inside a descending triangle, which is often thought-about a bearish reversal sample.
A breakdown from the triangle may take YFI again to the $29,950 assist space, whereas a breakout may take it in the direction of the $51,840 space.
On Might 23, QTUM reached a low of $6.37 and bounced.
At the moment, it’s within the technique of validating the $8.40 space as assist as soon as once more (inexperienced icons) and is creating the next low within the course of.
If profitable, the subsequent closest resistance space can be at $17.55. That is the 0.382 Fib retracement resistance degree.