Price analysis 6/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

cointelegraph.com:

The United States equities markets extended their decline to start the week on June 13. The S&P 500 hit a new year-to-date low and dipped into bear market territory, falling more than 20% from its all-time high made on Jan. 4. 

The cryptocurrency markets are tracking the equities markets lower and the selling pressure further intensified due to the rumored liquidity crisis of major lending platform Celsius and traders possibly selling positions to meet margin calls. This pulled the total crypto market capitalization below $1 trillion.

The sharp declines have led some analysts to project extremely bearish targets. While anything is possible in the markets and it is difficult to call a bottom, capitulations usually tend to start a bottoming formation. Traders may get their buy list ready and consider accumulating in phases after the price stops falling.

What are the important levels that may arrest the decline in Bitcoin (BTC) and major altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin broke below the immediate support at $28,630 on June 11. This accelerated selling and the bears pulled the price below the critical support at $26,700 on June 12. This indicated the resumption of the downtrend.

The bears maintained their selling pressure on June 13 and sent the BTC/USDT pair tumbling to an intraday low of $22,600. The sharp fall of the past few days has pulled the relative strength index (RSI) into the oversold zone. This suggests that a relief rally or consolidation is likely in the next few days.

Any recovery is likely to face selling in the zone between $26,700 and $28,630. If bears flip this zone into resistance, it will suggest that sentiment remains negative. Traders could then make one