BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15

Bitcoin

(BTC) is trading in a descending parallel channel. Sponsored Sponsored

Ethereum

(ETH) has broken out of an upward wedge from the bottom.

XRP

(XRP) and Flow (FLOW) broke out of falling resistance lines. Sponsored

Axie Infinity (AXS) reached the now ATH on July 15.

Zcash

(ZEC) is following a descending resistance line.

BakeryToken (BAKE) is trading inside a symmetrical triangle.

BTC

BTC has been trading in a descending parallel channel since June 29. On July 14, it bounced off the channel support line and the 0.618 Fib retracement support level at $31,640 (green circle).

Since then it has been moving up but has not yet regained the middle of the channel. Such a move would likely confirm that a breakout will occur.

In addition to this, it would cause the 2-hour MACD and RSI

to turn bullish. BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC chart by TradingView

ETH

On July 7, ETH peaked at $2361. Since then it has been moving downwards and broke out of an ascending wedge shortly thereafter. Presumably the wedge was the leading diagonal.

On July 14 it reached the lowest level of $1865 and rebounded. The bottom was made very close to the 0.786 Fib retracement support level. The upward movement that occurred appears to be impulsive (green).

ETH is potentially following the falling resistance line (dashed), but it is still possible that it will eventually move towardsthe horizontal resistance area at $2880.

BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15ETH chart by TradingView

XRP

XRP has been following a declining resistance line since June 1. After many failed breakout attempts, it finally managed to cross the line on July 4.

It then dropped and validated the line as support (green icon).

XRP has yet to rise, but the RSI has generated a bullish divergence.

The nearest resistances are located at $0.80-0.87 (0.5-0.618 Fib retracement resistance levels).

BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15XRP chart by TradingView

AXS

AXS has been moving upward at an accelerated pace since June 22. It has risen 921% in 23 days. This led it to reach a new ATH of $29.20 on July 15.

The maximum was reached above the outer resistance level of the 2.61 Fib retracement at $26.51. The next likely resistance area is at $35.95. This target is the outer Fib elimination level of 3.61.

There are no clear signs of weakness on the daily timeframe.

BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15AXS chart from TradingView

ZEC

ZEC has been declining since May 20 with a descending resistance line.

Following the line, it bounced twice at the $100 horizontal support area, potentially completing a double bottom pattern.

It still needs to break above this falling resistance line. Until that happens, the trend cannot be considered bullish.

The nearest area of resistance is at $195.

BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15ZEC chart via TradingView

FLOW

FLOW has been moving under the falling resistance line since April 5. It managed to break out on July 6 and has so far reached a maximum of $20.61 on July 15.

While the RSI initially generated a bearish divergence, its trendline was broken. MACD is also bullish.

The next resistances are $25.33 and $29.93. These are the respective retracement resistance levels of 0.5 and 0.618 Fib.

BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15FLOW chart via TradingView

BAKE

BAKE has been trading inside a symmetrical triangle since June 22. The triangle is often considered a neutral pattern.

The technical indicators in the short-term timeframe are bullish. RSI is above 50 and MACD is above 0.

If a breakout occurs, the nearest resistance will be at the $2.65 level.

BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15BTC, ETH, XRP, AXS, ZEC, FLOW, BAKE - technical analysis June 15Baking Chart via TradingView

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