BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, SHIB, AVAX

Bitcoin (BTC) has fallen to a narrow range of support, indicating that the bears will continue their selling pressure.

In a post on X, veteran trader Peter Brandt sees Bitcoin risking a fall to $60,000 and eventually $48,000. However, bitcoin whales don't seem bothered by the short-term uncertainty and continue their buying. The number of whales holding at least 1,000 bitcoins is nearing its peak.

Small and large whales are positive about the future prospects. MicroStrategy said in a press release that it intends to issue $700 million of convertible senior notes in 2032, with the proceeds to be used to acquire additional bitcoins and for “general corporate purposes.” Microstrategy holds 214,400 BTC today.

The buying isn't just limited to Bitcoin, as Ether (ETH) saw one of its biggest days in long-term holdings. According to Julio Moreno, head of research at CryptoQuant, in a post on X, storage addresses bought 298,000 Ether over 24 hours on June 12, well shy of the record purchase of 317,000 Ether on September 11, 2023.

Will Buying a Whale Start Bitcoin's Recovery to $70,000? Can altcoins also follow up? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

The long wick on Bitcoin's June 12 candlestick shows that the bears are trying to stop the rally at $70,000.

The 20-day exponential moving average ($68,234) has started to decline, and the relative strength index (RSI) has entered negative territory, indicating that the bears have an edge. If the price breaks below the 50-day simple moving average ($66,047), the BTC/USDT par may initiate a deeper correction towards $60,000.

Time is running out for the Bulls. To prevent the decline, they need to touch and sustain the price above the 20-day EMA. The pair could rise to $70,000 and then $72,000.

Ether price analysis

Ether's recovery stopped at the 20-day EMA ($3,618) on June 12, which indicates that the sentiment is turning negative, and traders are selling in rallies.

The bulls should wait for the 50-day SMA ($3,400) because if their efforts fail, the ETH/USDT pair could start a deep decline towards $2,850. The bulls will buy around $2,850 and keep the price in range.

Buyers need to drive and keep the price above the 20-day EMA if they want to pull back. If they do, the buying could be triggered, and the pair could start a support rally towards $3,887 and later towards $3,977.

BNB price analysis

BNB (BNB) has been trading in a tight range between $591 and $635 for the past few days, indicating a fierce battle between the bulls and bears.

The 20-day EMA ($627) has started to go down, and the RSI is in the negative zone, which shows little importance for the bears. If the price breaks below $591, the BNB/USDT pair may drop to $536.

This negative view will soon be rejected if the price breaks above the current level and breaks above $635. The bulls will try to push the price towards the $722 resistance.

Solana price analysis

Solana (SOL) is falling into a multi-day descending channel pattern. On June 12, the price bounced back from the support line, but the bears stopped the rally at the 20-day EMA ($159).

The bears are trying to dip the price below the support line again. If they manage to do that, the sell-off could be triggered, and the SOL/USDT pair could drop to critical support at $116. The Bulls can defend this level effectively.

Alternatively, if the price rises above the current level and breaks above the channel, it suggests that a short-term correction may end. The pair may move to $176 and then to $189.

XRP price analysis

XRP (XRP) has been oscillating in a wide range between $0.46 and $0.57 for the past few days. This suggests buying near the support and selling near the resistance.

The downward moving averages and the RSI in the negative territory suggest that the bears are in control. If the price declines below the current level or the 20-day EMA ($0.50), it increases the possibility of a decline below $0.46. If that happens, the XRP/USDT pair could drop to the major support at $0.41.

If buyers want to prevent losses, they should quickly exit the price above the 50-day SMA ($0.51). The pair may begin a gradual journey towards the upper resistance at $0.57.

Dogecoin price analysis

Dogecoin (DOGE) is trying to find support at $0.13, but the bulls could not push the price above the 20-day EMA ($0.15).

If the price declines from the current level or the 20-day EMA, it increases the downside potential to $0.12. This is a very important level for bulls to defend because if it breaks, the DOGE/USDT pair can drop to $0.08.

On the upside, a break and close above the moving averages clears the way to $0.18 for a rally. The Bears can mount a strong defense at this point. If the price changes from $0.18, the range-bound action may continue for an additional period.

Token price analysis

Toncoin (TON) broke above the $7.67 strong cushion resistance on June 13th, completing a bullish ascending triangle pattern.

If buyers support the price above $7.87, the TON/USDT pair may start the next level of growth. The bullish setup pattern target is $10.62, but the bears are expected to mount a strong challenge at $10.

The first sign of weakness breaks and closes below the $7.67 breakout level. Such a move shows that markets have rejected a downturn. If the bears keep the price below the rising line, selling may increase.

Related: Here's what's happening in crypto today.

Cardano price analysis

Cardano (ADA) rejected the 20-day EMA ($0.44) on June 12, indicating that bears are selling at every support rally.

Downward moving averages and an RSI in the negative zone suggest bears are in command. The $0.40 to $0.41 zone could serve as firm support, but if the bears win, the ADA/USDT pair could drop to $0.35.

If the bulls want to prevent the downside damage, they need to move the price faster than the moving averages. If they do, the pair may try to march to the opposition line. This level can be a small barrier, but if it is broken, the next stop can be $0.57.

Shiba Inu price analysis

Shiba Inu (SHIB) is slowly sliding towards the important support at $0.000020, which could witness strong buying by bulls.

If the price breaks above $0.000020 and above the moving averages, it indicates that the range remains intact. The bulls will try to push the SHIB/USDT pair to the upside resistance at $0.000030.

On the contrary, if the price is reduced from the moving averages, it indicates that the bears will maintain their pressure. A break and close below $0.000020 indicates the start of the next downtrend towards the 78.6% Fibonacci retracement level to $0.000017.

Price analysis

Avalanche (AVAX) declined from the 20-day EMA ($34) on June 12, indicating that the bears are selling the rally to the moving averages.

The AVAX/USDT pair may witness a fierce battle between bulls and bears at $29. If the price recovers strongly from the support and rises above the moving averages, it indicates that the consolidation may continue for a few more days.

On the contrary, if the price breaks below $29 and closes, it shows that the range has been released to support the bears. That may start dropping to $25 and then $20.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.