The month of June was rocky for the crypto market, especially after two significant market crashes last month and this month. The trend specifically observed with most cryptos was that they broke their critical support levels and then traded over them, only to fall back through the major support levels.
Ethereum, IOTA and Zcash all rebounded somewhat in the past few days, but all three coins were trading back near their key support levels in the red.
Ethereum saw a brief price correction a day ago but was back in the red at press time. The altcoin broke its crucial $ 2019 support level on June 21, but has since traded below that support level. At the time of writing, the coin had hit a new low of $ 1,768, a 39% decline from last month’s prices.
The Parabolic SAR imagined a downward trend at the time of going to press, a sign that ETH could continue to fall in the coming trading sessions.
The Chaikin money flow recommended that the capital inflows had increased slightly in the last week, but the capital outflows were still higher than the inflows in the last 24 hours. The mouth of the Bollinger bands had expanded on June 25 and continued to expand at press time – a sign of further price volatility.
IOTA has broken its key support level of $ 0.77 per week. However, last week, the price moved north after the Alt hit the $ 0.68 mark. The old had rebounded and was trading above its key support level of $ 0.77 after June 23rd, unfortunately IOTA had fallen above it again at press time.
The coin’s valuation has fallen 48% since the beginning of this month. At the time of writing, the price was $ 0.76 and with any further price decline, the next level of support would be at $ 0.68. If the price goes north, the crypto could find resistance at $ 0.86. However, price fluctuations appeared unlikely as the Bollinger bands were Confined at the time of going to press.
The asset fell south from the neutral zone as it saw rising selling pressures, according to the Relative Strength Index. With visible red bars on the Ingenious oscillator, the alt marked the beginning of a bearish signal.
ZEC hovered between the USD 100 support and the USD 117 resistance after falling to USD 93.10 on June 22nd. At press time, the altcoin was down at $ 99.20 after breaking its $ 100 support level. After a week of steady recovery, the coin fell 14% and if it continued to fall the next level of support for the coin would be at $ 93.
Bollinger bands showed a tiny divergence at press time, which meant the price could show some volatility in the next trading sessions. The Great oscillator underlined bearish momentum after a week of bullish signals on the charts.
The MACD line was a bearish crossover on June 25th, and by the time we went to press, the bears had taken over the market.
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