BTC, ETH and XRP Price Analysis for June 8

The market has not decided yet which way to go as the rates of some coins are rising while others are falling.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 0.56% over the last 24 hours.

Image by TradingView

On the daily chart, the rate of Bitcoin (BTC) is more bearish than bullish as the price has not bounced back far from the support level. From another point of view, BTC is above the vital $26,000 zone, which is a hope for buyers for a local correction.

In this regard, ongoing sideways trading in the narrow range of $26,000-$27,000 is the more likely scenario for the next few days.

Bitcoin is trading at $26,586 at press time.

ETH/USD

Ethereum (ETH) has followed the slight rise of Bitcoin (BTC), going up by 0.55%.

Image by TradingView

From the technical point of view, the rate of Ethereum (ETH) is accumulating power for a sharp move as the rate is in the middle of the channel. If the growth can continue to the $1,900 mark and fix above it, there is a chance to see a resistance breakout, followed by a blast to the $2,000 zone.

Ethereum is trading at $1,857 at press time.

XRP/USD

The rate of XRP has declined by 0.07% since yesterday.

Image by TradingView

XRP is trading similar to Bitcoin (BTC) and Ethereum (ETH) as neither side has seized the initiative yet. However, if bulls can get to the $0.54 zone and fix above it, the accumulated energy might be enough for a move to the resistance at $0.55.

XRP is trading at $0.5242 at press time.