Despite the fact that Bitcoin has been quite undecided the past few days, some cryptocurrencies have continued to generate profits, such as ADA. Others continue with a bullish expectation for the short term, where we can include LTC and BNB. If you are interested in knowing the trend of these altcoins, stay to read this post.
LTC, BNB and ADA cryptocurrency trend
Today we have to talk about these 3 important altcoins, each one occupying a good place in the ecosystem, solving different needs. This means that, although they move together much of the time, other times they can jump without any correlation.
This is how we see the Cardano cryptocurrency (ADA) today, with an impressive revaluation in recent days, thanks to the excellent development environment that its chain is experiencing, and with a fixed date for the launch of its next update, known as Shelley .
Meanwhile, BNB and LTC have kept moving quite correlated. However, it is relevant to note that the Binance token has greater probabilities of revaluation in the short term. We will see this below, when we analyze in detail the trend of each of these cryptocurrencies.
Litecoin, considered the silver of cryptocurrencies, was born in order to take advantage of all the benefits of the BTC code, but looking for a way to make a more affordable and scalable network.
This project has never purported to take Bitcoin away. The main idea is that it is used for smaller transactions, such as retail. However, its adoption is still very small.
Although, from my point of view, there is still no clear long-term LTC outlook, I can assure you that for the short and medium term we will see it fluctuate in a highly correlated way with BTC.
The LTC trend for the next few days remains bullish, quickly identifiable with ever higher lows, supported by the EMA of 8 and SMA of 18.
However, this vision is not yet very strong. The currently bearish 200 SMA could function as a huge dynamic barrier, just as the price hits resistance at $ 50.12. If you go through it, it would be a very good sign for the medium term, as there will be no relevant barrier until approximately USD 63.
Cryptocurrency trend: BNB
Binance Coin is one of the cryptocurrencies with the best prospects for the short and medium term, despite being one of the youngest.
The BNB price increase is directly linked to the growth of the Binance exchange, positioned as leader according to data provider CoinMarketCap.
The signals from the technical analysis also support this positive trend of the BNB token.
The short-term trend is bullish, supported by the 8-EMA and 18-cross SMA to the upside, and a 200-day SMA below the price.
Currently the listing is enclosed in a small side, with immediate residence at USD 17.72, if you cross it, the land will be cleared up to USD 21.33.
For this outlook to turn bearish, support at $ 17 must be breached.
One of the projects that have performed best in this 2020, clearing the ground for a positive performance during the rest of it.
ADA is the label with which the Cardano cryptocurrency is identified, capable of increasing its price by more than 350% from the current year’s low. A rise supported by solid fundamentals, related to the upcoming network update, which is called Shelley.
Thanks to this, today ADA has a totally bullish short-term trend, supported by the EMA of 8, SMA of 18 and SMA of 200 days.
Currently, the price is close to reaching a next weekly barrier, located at USDT 0.096. If this supply zone is exceeded, the next objective is quite far away, close to USDT 0.17.
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