Bitcoin and major altcoins are facing selling at higher levels, but there are no signs of panic selling at the moment. The United States Securities and Exchange Commission (SEC) has taken action against two of the biggest crypto exchanges, Binance and Coinbase, causing volatility in the cryptocurrency markets. Glassnode data shows a decline of 12,600 Bitcoin from exchange balances on June 5 and 6, indicating that traders kept their cool and did not panic.
– Bitcoin snapped back from the vital support at $25,250 on June 6, indicating that the bulls are trying to fiercely guard the level.
– Ether dipped below the resistance line of the falling wedge pattern on June 5, but the bears could not build upon the strength.
– BNB plummeted sharply on June 5, which yanked the price below the strong support at $280.
– XRP turned down sharply and broke below the 20-day EMA, suggesting that the bears want to keep the range between $0.30 and $0.56 intact.
– Cardano tumbled below the uptrend line of the ascending triangle pattern on June 5, invalidating the bullish setup.
– Dogecoin broke below the immediate support at $0.07 on June 5 but rebounded sharply off the support near $0.06.
– Polygon slipped below the $0.82 support on June 6, but the bulls aggressively purchased the dip.
– Solana rebounded off the strong support at $18.70 on June 5 and 6 as seen from the long tail on the day’s candlesticks.
– Polkadot collapsed below the crucial support of $5.15 on June 5 but bounced back sharply on June 6 and rose above the breakdown level.
– Litecoin plunged below the moving averages on June 5 and recovered sharply on June 6, but the bulls could not sustain the price above the 20-day EMA ($90).
