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  • Bitcoin, Ethereum, and Ripple managed to stabilize after suffering a blow over the weekend.
  • The three cryptocurrencies now have clear upside targets.
  • The Confluence Detector shows clusters of technical levels according to their importance.

BTC/USD has strong support, targets $7,471

The price of Bitcoin  has support at $6,814  which is the congestion of potent lines such as the Bollinger Band 1h-Middle, the Simple Moving Average 5-4h, the 4h-High, the SMA 50-15m, and the Fibonacci 38.2% one-day. The considerable cushion should allow the pair to advance.

The first notable upside hurdle is the $7,088  which is the confluence of the Pivot Point one-day, Resistance 3 and the one-month low. Further above, $7,169  is the meeting point of the Pivot Point one-week Support 2. However, BTC/USD targets the $7,471  level which is the convergence of the SMA 10-one-day, the Fibonacci 23.6% one-week, the SMA 200-1h, the SMA 50-4h, the SMA 100-4h, and the Bolinger Band one-day-Middle.

To the downside, low support awaits at $6,376  which is the Pivot Point one-month Support 1. As mentioned earlier, the robust support at $6,814 should prevent a fall to lower ground.

This is how it looks:

BTC USD Bitcoin technical levels June 12 2018

ETH/USD found a solid base, now seeks reaching $580

Similar to Bitcoin, the  Ethereum Price  has a solid base at $529  which is the congestion of the Simple Moving Average 5-4h, the SMA 50-15m, the Bollinger Band 1h-Middle, the Fibonacci 38.2% one-day, the SMA 100-15m, the SMA 10-1h, the Bolinger Band one-day Lower (Stdv. 2.2), and the Pivot Point one-week Support 1.

It would be easier to move to the upside with a first target at $554which is the meeting point of the Pivot Point one-week Support 2 and the PP one-day Resistance 2.

The real target is $580  which is the congestion of the potent Simple Moving Average 100-4h, the Bolinger Band one-day Middle, the Fibonacci 23.6% one-month and the one-week low.

A potential drop of the pair would send it to secure support at $501which is the Pivot Point one-day Support 2 and the one-month low.

Here is how it looks:

ETH USD technical confluence June 12 2018

XRP/USD sets its eyes  on $0.7063

The price of Ripple.also enjoys significant support at $0.5837  which is a dense cluster of lines: the Simple Moving Average 10-4h, the 1h-Low, the Fibonacci 38.2% one-day, the SMA 50-15m, the SMA 10-15m, the SMA 10-1h, the SMA 5-1h, the Bolinger Band 15m-Middle, the Fibonacci 161.8% one-week, the SMA 5-15m, the SMA 50-1h, the SMA 200-15m, the Fibonacci 23.6% one-day, and many more.

This congestion should allow XRP/USD to rise and reach out towards the first target of $0.6450  which is the confluence of the one-week low, the Fibonacci 23.6% one-month, the Pivot Point one-week Support 1, the Bollinger Band one-day Middle, the Pivot Point one-day Resistance 2, the SMA 100-1h, and the SMA   100-4h.

Further above, $0.7063  is the convergence of the Bolinger Band 1h-Upper, the Bolinger Band 1d-Upper, and the one-week high.

On the other side, $0.5469  is the meeting point of the one-month low, the Pivot Point one-day Support 1, and the Bollinger Band one-hour Lower.

This is how it looks:

Ripple XRP USD Technical June 12 2018

The Confluence Detector finds  exciting opportunities using Technical Confluences.  The TC is a tool to locate and point out those price levels where there is a  congestion of indicators,  moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence  adjacents  price levels. These weightings mean that one  price level without any indicator  or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

Learn more about Technical Confluence

More:  Latest cryptocurrency news

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