Price analysis 6/20: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

cointelegraph.com:

The crypto markets have been in a strong bear phase for the past several months but JPMorgan Chase analysts expect that to change and they havprojected a significant upside from the current levels. The analysts cited the rising share of all stablecoins in the total crypto market for their bullish outlook.

Unperturbed by the current fall, retail traders have been adding Bitcoin (BTC) to their portfolios. The number of wallet addresses holding one Bitcoin surged by 13,091 to a record high of 865,254. Similarly, the number of addresses holding about 0.1 Bitcoin has also witnessed a sharp rise in the past 10 days, according to data from Glassnode.

Bitcoin’s sharp recovery from the June 18 fall shows strong buying at lower levels and according to Whalemap, this has led to the formation of a new “whale level,” which may act as short-term support.

Could the recovery in Bitcoin and major altcoins continue in the near term? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin plunged below $20,000 on June 18 but made an equally sharp recovery on June 19, indicating aggressive buying at lower levels. If bulls sustain the price above $20,000, it could improve sentiment and attract more buyers.

The BTC/USDT pair could first rise to the 38.2% Fibonacci retracement level of $23,024 and then to the 20-day exponential moving average ($24,890). The bears are likely to defend this zone with all their might.

If the price turns down from this zone, the sellers will make another attempt to pull the pair below $20,000. A break and close below $17,622 could start the next leg of the downtrend.

Alternatively, if buyers push the price above the 20-day EMA, it will signal a potential change in trend. The pair could then rally to