Price analysis 6/26: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
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The S&P 500 Index (SPX) snapped a five-week winning streak last week but it is still on track to close the first half of the year with stellar gains of nearly 13%. The tech-heavy Nasdaq Composite has done much better, as it is up
Dogecoin price analysis
Dogecoin (DOGE) turned down from the overhead resistance of $0.07 on June 23, indicating that the bears are defending the level with vigor.
The 20-day EMA ($0.07) has flattened out and the RSI is just below the midpoint, indicating a state of equilibrium between buyers and sellers. If the price breaks below the 20-day EMA, the DOGE/USDT pair may consolidate between $0.06 and $0.07 for a few days.
The first sign of strength will be a rally above the resistance at $0.07. Buyers will then try to extend the recovery to $0.08. On the downside, a break and close below $0.06 could start a deeper correction to $0.05.
Solana price analysis
The relief rally in Solana (SOL) is facing strong resistance at the 20-day EMA ($17), indicating that the bears have not given up and they continue to sell on rallies.
Sellers will have to sink the price below the immediate support of $16.18 to be back in the driver’s seat. The SOL/USDT pair may then retest the important support zone between $15.28 and $14.
On the contrary, if the price turns up from the current level and breaks above $17.75, it will suggest that bulls have a slight edge. The pair could then rise to the breakdown level of $18.70. The 50-day SMA ($18.82) is placed just above this level hence the bears are expected to defend it fiercely.
Litecoin price analysis
Litecoin (LTC) turned down from the resistance line of the descending channel on June 24 and reached the moving averages.
The long tail on the June 24-26 candlestick shows that the bulls are buying the dips to the 50-day SMA ($85). Buyers will try to push the price to the resistance line of the channel which remains the important resistance to watch out for. If bulls overcome this obstacle, the LTC/USDT pair could start an up-move toward $105.
Contrarily, if the price continues lower and plunges below the moving averages, it will suggest that bears have the upper hand. The pair could then tumble to $76 and later to the support line of the channel.
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This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
