After Bitcoin was seeing an uphill battle between buyers and sellers near the $25.000 mark, today – June 17th, Bitcoin surged to the $26.304 mark at press time.
Can Bitcoin and altcoins start to recover from current levels?
Bitcoin price analysis
Bitcoin plunged below the crucial support at $25.250 on June 14, indicating aggressive selling by the bears.
Although the bulls managed to push the price back above $25.250 on June 15, they will have to overcome the obstacle at the 20-day exponential moving average (EMA) at $26,320 to initiate the recovery.
On June 17, BTC price broke through the $26.300 resistance level. Looking further ahead, the BTC/USDT pair might attempt to rally to the 50-day simple moving average (SMA) of $27.210 and possibly further.
Ether price analysis
Ether sled below $1.700 on June 14, suggesting that the failure of the bears to initiate a strong recovery may have intensified selling. By June 17th, ETH had recovered $1.715.
Currently, ETH has rallied above $1.700, which should indicate stronger demand at the next resistance levels. In the future, the pair can rally to the 20-day EMA ($1.779), where the bears will attempt to halt the rally. Further down, ETH has the prospect of breaking through $1.928 and then $2.000.
BNB price analysis
BNB's $237 pullback has disappeared at the 38,2% Fibonacci retracement level of $252,50 on June 14, showing that bears continue to sell in minor rallies.
By June 17, BNB had risen to $232. Next, the pair can fluctuate between $252 and $220 for some time. If buyers push the price above $252, the pair can rally to $265, where the bears are once again expected to make a strong defense.
