) plummeted sharply on June 5, which yanked the price below the strong support at $280. There was a meek attempt to start a recovery on June 6 but the bears did not allow the price to sustain above $280.The selling resumed on June 7 and the bears have dragged the price below the crucial support at $265. This is a negative sign as it suggests the start of a new downward move to $240 and then to the vital support at $220.
If bulls want to make a comeback, they will have to push the price back above the breakdown level of $265. If they can pull it off, the BNB/USDT pair could pull back to $280 and later to the 20-day exponential moving average .In an up-move, traders generally buy the dip to the 20-day EMA and they did just that in XRP on June 5 and 6 as seen from the long tail on the candlesticks.However, the bears are not ready to give up easily.
Meanwhile, buyers are likely to have other plans. They will try to clear the overhead hurdle and if they do that, it will indicate the start of a new uptrend. The XRP/USDT pair could rally to $0.60 and then to $0.80.
After the initial knee-jerk reaction to the news and the subsequent rebound, markets are likely to enter a range as traders reflect upon the uncertainty around the lawsuits. The initial response has been encouraging, as the markets have not collapsed...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: BTC Falls Below $26,000, as SEC Sues Binance – Market Updates Bitcoin NewsBitcoin plunged to its lowest point in over two months, as markets continue to react to the SEC versus Binance lawsuit.
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin traders bet on $24K BTC price as market digests SEC vs. BinanceBitcoin reels from fresh Binance drama with BTC price now due even lower levels, traders say. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it steadied after dropping to near three-month lows. The weakness came from a knee-jerk market reaction to the news that the SECGov was suing binance and its CEO, cz_binance.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bitcoin OG keeps faith in bull market as BTC price bounces 8%Bitcoin wipes out most traces of its Binance and Coinbase losses with BTC price near $27,000. “Time to start the new uptrend to $38-42K on Bitcoin,” Michaël van de Poppe, founder and CEO of trading firm Eight, responded. Van de Poppe referenced the 200-week moving average (MA), an important support level which, at $26,400, was only lost for a few hours.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bitcoin price bounces past $26K as Coinbase news fails to shake bullsBitcoin bulls refuse to let go as BTC price returns above $26,000. Data from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC, which reached $26,250. The pair had dipped to nearly three-month lows of $25,350 earlier in the day amid news that the U.S. Securities and Exchange Commission was suing exchange coinbase.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bitcoin (BTC) Surprises Market per Glassnode's Latest Reveal, Here's What HappenedBitcoin spot price continues to find strong support at some key price levels
Source: Utoday_en - 🏆 295. / 63 Read more »
Binance Records Significant Outflows of BTC, ETH, and Stablecoins Exceeding $1.45 Billion – Bitcoin NewsIn the past 68 hours, Binance has seen bitcoin outflows of around 15,438 BTC worth more than $420 million using current exchange rates.
Source: BTCTN - 🏆 531. / 51 Read more »