Last week the cryptocurrency market suffered an aggressive sell-off as the industry came under increasing regulatory pressure. Since then, things have cooled off considerably for the top cryptocurrencies. In this article, we will discuss the current performance of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Tradecurve (TCRV).
Bitcoin (BTC) Price Analysis
Although not directly affected by lawsuits filed against crypto exchanges by regulators, the price of Bitcoin (BTC) suffered a considerable dip. The price of Bitcoin fell by more than 10% in a week to break the $25,250 support level and trade as low as $24,700. However, bulls were quick to react and defend the $25,100 support, forcing Bitcoin into bull territory.
Bitcoin bulls would need to hold the price of BTC above $26,320 representing the 20-day exponential moving average (EMA) for a significant shot at an uptrend. If they can hold this level, then Bitcoin’s next challenge will be to break the $27,210 resistance before looking at a long-term upside.
Ethereum (ETH) Price Analysis
Ethereum suffered intense selling pressure that saw the price of the ETH fall below the $1,700 support from a high of $1,925 two weeks ago. Ethereum bulls have managed to push the price of their favorite altcoin above the $1,700 support to prevent a move below $1,600 for ETH. At the time of this writing, ETH trades at $1,730.
The Ethereum bulls are currently battling with the bears to assert a position above the 20-day EMA at $1,779. If the bulls win this battle, we could see the price of Ethereum (ETH) start a rally to $1,928 before looking to reclaim the $2,000 resistance in the coming week.
Binance Coin (BNB) Price Analysis
The native token of the Binance ecosystem, BNB, experienced a major price drop, tanking about 25% from June 5 to 12 to hit its lowest point of 2023 at $222 per token. However, Binance Coin (BNB) quickly rebounded off this support level, experiencing a 14% rally on June 15. Binance Coin (BNB) currently trades at $244.13.
Successfully passing the real test at the $220 level, Binance Coin (BNB) may continue to trade between $252 and $220 in the case of a lack of momentum. However, if the Binance Coin (BNB) musters enough momentum, we could see a break above $252 and a test of the $263 resistance. But, a failure to do so could see the bear drag the price back to $220 intending to test the crucial support at $183.
Tradecurve (TCRV) Price Analysis
Amidst the crypto market recovery, Tradecurve (TCRV) has stood out as one of the best performers. Over the last week, the price of TCRV has increased by 30% to set a new high at $0.018. At the current growth rate of the Tradecurve project, crypto market experts have predicted that the price of TCRV could end June trading higher than $0.025 per token.
Tradecurve is building the first platform where users will be able to seamlessly trade derivatives (options, stocks, forex, and commodities) from the same account they use to trade cryptocurrencies. Market experts are bullish about Tradecurve as it would be the first platform to bring the $632 trillion OTC derivatives market to the decentralized finance (DeFi) space. To end the year, they have forecasted the price of TCRV between $1 and $1.5 per token.
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