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Cryptocurrency analyst Rakesh Upadhyay made predictions about the price behavior of some of the main cryptocurrencies on the market. The list includes: Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Ripple (XRP).

In his analysis, Upadhyay highlighted critical support and resistance levels, as well as potential price trajectories for these digital assets over the weekend.

The first cryptocurrency on the analyst’s list is Ethereum. According to the analyst, ETH’s rally halted at the 20-day exponential moving average (EMA) of $3,618 on June 12. This indicates that sentiment is turning negative, with traders selling on rallies.

“Bulls need to protect the 50-day simple moving average (SMA) of $3,400. This is because if they fail, the ETH/USDT pair could begin a deeper decline towards $2,850,” he said.

Regarding BNB, he highlights that the cryptocurrency has been trading in a narrow range between US$591 and US$635 in recent days, signaling a fierce battle between bulls and bears.

“The 20-day EMA of $627 has started to decline, and the relative strength index (RSI) is in negative territory, signaling a slight advantage for the bears,” explained Upadhyay. “If the price drops below $591, BNB/USDT could plummet to $536.”

Analysis of ETH and other cryptocurrencies

The third cryptocurrency analyzed is Solana, which Upadhyay highlights has been falling within a descending channel pattern for several days. According to him, SOL price recovered the support line on June 12, but the bears stopped the relief rally at the 20-day EMA of $159.

Thus, the analyst highlights that if the bears manage to sink the price below the support line, selling may increase, and the SOL/USDT pair may move towards the critical support of $116.

Finally, there is XRP, which the analyst points out has fluctuated within a wide range between US$0.46 and US$0.57 in recent days. This shows that there is buying near support and selling near resistance.

He states that the descending moving averages and the RSI in negative territory suggest that the bears are in control. Therefore, if the price turns down from the current level or the 20-day EMA of $0.50, the probability of a drop below $0.46 will increase.

“If this happens, the XRP/USDT pair could fall towards the crucial support of $0.41”, he concludes.

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Source: https://www.criptofacil.com/analista-aponta-previsao-de-preco-para-eth-bnb-sol-e-xrp-no-fim-de-semana/



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