Data & Research

Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis (5th June 2018)

Bitcoin (BTC)

Key Highlights

  • Bitcoin price has declined against the US dollar today.
  • There is a short-term bearish trend line forming with resistance at 7478.16 USD on the hourly chart of the BTC/USD pair.
  • We predict that the pair would grow soon.

The price of the BTC/USD pair has declined today. Even after seeing growth at the beginning of the day, the cryptocurrency fell to 7397.00 USD during the day. As of now, the pair is trading at 7466.7 USD and is expected to grow soon.

BTC Price Chart 05/06/18
Source: TradingView

Hourly MACD – The hourly MACD for BTC/USD is bullish.

Major Support Level – 7397.00 USD

Major Resistance Level – 7558.29 USD

[Read: Australian Tourism Welcomes Bitcoin [BTC], Bitcoin Cash [BCH], NEM [XEM], Litecoin [LTC] and Ethereum [ETH]]

Ethereum (ETH)

Key Highlights

  • The price of Ethereum against the dollar has seen a little growth today.
  • There is a short-term bullish trend line forming with resistance at 595.26 USD on the hourly chart of the ETH/USD pair.
  • We predict that the pair would see a dip soon.

The ETH price against the US dollar has seen a little growth in the last 24 hours. It has seen a lot of growth and decline throughout the day. As of now, the cryptocurrency is being traded at 594.96 USD and is expected to decline soon.

ETH Price Chart 05/06/18
Source: TradingView

Hourly MACD – The hourly MACD for ETH/USD is bullish.

Major Support Level – 595.05 USD

Major Resistance Level – 623.43 USD

Ripple (XRP)

Key Highlights

  • The price of Ripple has risen against the US dollar today.
  • There is a short-term bullish trend line forming with resistance at 0.668163 USD on the hourly chart of the XRP/USD pair.
  • We predict that the pair would grow soon.

The XRP price against the US dollar has grown in the last 24 hours. It managed to rise to 0.679257 USD where it saw resistance. Failing to beat the resistance, the XRP/USD pair dropped to 0.666191 USD. As of now, the cryptocurrency is trading at 0.67084 USD and is expected to grow soon.

XRP Price Chart 05/06/18
Source: TradingView

Hourly MACD – The hourly MACD for XRP/USD is bullish.

Major Support Level – 0.641428 USD

Major Resistance Level – 0.679257 USD

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.