+ 2.15
+ 0.62%
+ 3.22
+ 0.95%
+ 2.53
+ 0.6%
+ 0.23
+ 0.16%

Bitcoin, Ethereum & WAX - American Wrap 6/11

June 11, 2020 4:09 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Bitcoin, Ethereum & WAX - American Wrap 6/11

Bitcoin Sentiment Overview: BTC/USD can skyrocket thanks to inflation

Bitcoin broke $10,000 again on June 10 but got rejected and dropped to $9,700. The top-ranked cryptocurrency is trading at $9,550 at the time of writing after a steep consolidation due to the recent rejection. Bulls are looking to hold the daily 12-EMA at $9,679. A loss of this EMA will be significant and it hasn’t happened since May 21.

Ethereum Price Prediction: ETH/USD slides below $240 and there are not many support levels nearby

Ethereum is clearly seeing a shift in momentum after the rejection we saw yesterday on June 10. The second-ranked cryptocurrency attempted to break $250 again and had a minor rejection that is getting a ton of continuation today. The daily 12-EMA is set at $239 at the time of writing and the bulls are trying to defend it. 

Unfortunately, below the 12-EMA there is not a lot of support for Ethereum. The nearest resistance area can be found between $237.67 and $237.25 where the previous hourly and 4-hour lows are converging. The daily Fibonacci 161.8% is also there. Below that, Ethereum doesn’t have a lot of support besides the daily 26-EMA at $228.49.

WAX Technical Analysis: WAX/USD succumbs to selling pressure and plummets to $0.057

The WAX bull run is paused as bulls couldn’t handle the selling pressure around $0.08 and the price dropped to a low of $0.057, the current price at the time of writing. Bulls have lost the daily 12-EMA at $0.0641 and they are looking to defend the daily 26-EMA at $0.0547.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

Jay-Z's Record Label Sues Co-Founder For Trying To Sell First Album As NFT

Roc-A-Fella Records (RAF), co-founded by American rapper Jay-Z and music producer Damon Dash, is now suing the latter for attempting to sell Jay-Z’s debut album as an NFT. read more

StakeHound Sues Crypto Custodian Fireblocks For 'Losing $70M ETH,' Report Says

Cryptocurrency staking platform StakeHound has filed a lawsuit against crypto custodian Fireblocks, alleging that the latter was responsible for losing $75 million worth of Ethereum (CRYPTO: ETH). read more

Two South African Brothers Disappear With $3.6B Worth Of Bitcoin In Biggest Scam To Date

Ameer and Raees Cajee, founders of South African crypto exchange Africrypt, have reportedly disappeared with 69,000 Bitcoin (CRYPTO: BTC) $3.6 billion worth of client funds. In doing so, twenty-year-old Ameer Cajee and his seventeen-year-old brother Raees Cajee may have pulled off the biggest exit scam in history. read more

Crypto Bank Nexo Lists Polkadot, Lets Users Earn 8% APY

Crypto bank Next integrated Polkadot (CRYPTO: DOT), with support for buying, selling, earning interest, or borrowing against the coin. What Happened: According to an announcement shared with Benzinga, Nexo customers will be able to earn up to 8% interest and borrow against DOT at just 6.9% APR within the platform. read more