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Price analysis 6/11: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH

Published 06/11/2021, 03:48 PM
Updated 06/13/2021, 06:00 PM
Price analysis 6/11: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH

Bitcoin’s (BTC) failure to rise above the critical $40,000 to $42,000 resistance zone is keeping crypto traders on tenterhooks. Some analysts view the sharp rebound from $31,000 level as a sign of accumulation at lower levels while others believe the failure to cross above the overhead resistance indicates that Bitcoin is still not out of the woods yet.

JPMorgan’s cryptocurrency market analysts, led by global market strategist Nikolaos Panigirtzoglou, pointed out that after the recent fall, the Bitcoin futures market has shifted from contango to backwardation for the first time since 2018. The analysts believe this is a warning of a possible bear market, similar to the one seen in 2018.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
UNI/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
BCH/USDT daily chart. Source: TradingView

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