Price analysis 6/21: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT
2 min read
BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF) has encouraged other financial firms to follow suit. First, it was the New York-based asset management fund WisdomTree, which
Polygon price analysis
Polygon (MATIC) is gradually rising toward the breakdown level of $0.69. The 20-day EMA ($0.69) is also placed at this level; hence, the bears are expected to defend this resistance with vigor.
The downsloping moving averages and the RSI in the negative territory indicate a minor advantage to the bears. If the price turns down from $0.69, the MATIC/USDT pair could remain stuck between $0.69 and $0.50 for a few days.
The first sign of strength will be a break and close above the 20-day EMA. Such a move will suggest strong buying at lower levels. The pair may then rise to the 50-day SMA ($0.82). The crucial support to watch for on the downside is $0.50.
Litecoin price analysis
Litecoin (LTC) rebounded sharply off the strong support at $75 on June 20, indicating that the bulls are aggressively buying the dips to this level.
The buying continued on June 21, and the bulls propelled the price above the 20-day EMA ($81), signaling a comeback. There is a minor resistance at the 50-day SMA ($85), but it is likely to be crossed. The LTC/USDT pair may first hit $92 and then $98.
Time is running out for the bears. If they want to reestablish control, they will have to quickly tug the price back below the $75 to $71 support zone. Until that happens, the bulls are likely to view the dips as a buying opportunity.
Polkadot price analysis
The bears tried to pull Polkadot (DOT) toward the $4.22 support on June 20, but the long tail on the day’s candlestick shows strong buying at lower levels.
Buyers have pushed the price to the 20-day EMA ($4.76), which is likely to act as a strong resistance. If bulls drive the price above the 20-day EMA, the DOT/USDT pair could reach the breakdown level of $5.15.
This level is again likely to pose a strong challenge to the bulls. If the price turns down from this level, the pair may oscillate between $5.15 and $4.22 for some time. The bears will have to yank the price below $4.22 to start the next leg of the downtrend.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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.
