ByBit
0
📈 Price Predictions
394 views

BCH, LTC, XLM Altcoin Price Prediction - Is the Rise of Altcoins New Bullish Trend or False Alarm?

  • Denys Serhiichuk
    📈 Price Predictions

    The top altcoins keep growing against BTC. Can one assume that another alt season has already started?

BCH, LTC, XLM Altcoin Price Prediction - Is the Rise of Altcoins New Bullish Trend or False Alarm?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Altcoins have risen significantly over the last day while BTC continues to trade around $8,200. Bitcoin SV is the biggest gainer out of the top 10 coins with its price gaining more than 16 percent against the top coin. The overall market capitalization has grown to $223 bln.

Meanwhile, the market share of Bitcoin has dropped to 66.3%.

Top 10 coins by Coinstats

Let's take a quick look at the key indicators of Bitcoin Cash, Litecoin, and XLM.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin Cash

BCH

$4 202 562 689

0,02822275 BTC

$1 726 612 602

3.08%

Litecoin

LTC

$3 495 308 208

0.00667802 BTC

$2 771 310 926

1.18%

Stellar

XLM

$1 284 824 584

0.00000778 BTC

$198 043 753

1.55%

BCH/BTC 

Bitcoin Cash is one of the top gainers out of the top 5 coins. Its price has risen by more than 3% over the 24 hours. 

BCH/BTC chart by TradingView

On the daily chart, BCH is trading within the descending channel, following the ’death cross’ pattern formed in the mid-summer of 2019. Currently, there are no signals of a potential trend change in the long-term. The decreasing trading volume indicates the ongoing price decline. 

Summing up, the price of BCH might touch the closest support at 0.026 BTC until mid-November.

Bitcoin Cash is trading at 0.02804 BTC at press time.

LTC/BTC 

Litecoin has been trapped in a sideways trend since the beginning of September. Its price has gone up by 1.18% over the last day.

LTC/BTC chart by TradingView

The rate of ’digital silver’ is located under the MA 50 and MA 100, confirming the decline. However, bulls are still standing their ground, holding the price in the yellow range corridor for more than one month. In terms of the nearest price forecast, Litecoin is likely to trade above 0.006 BTC within the next few weeks.

👉MUST READ

LTC Price Is Close To The Bullish Zone. When To Expect 100% Rise? Traders Know

LTC Price Is Close To The Bullish Zone. When To Expect 100% Rise? Traders Know

Such a scenario is backed by the neutral MACD and RSI indicators. Moreover, the trading volume has remained unchanged for a few months. 

Litecoin is trading at 0.00666 BTC at press time.

XLM/BTC 

Although the price of XLM has increased by only 1.55% over the last day, its price has risen by almost 50% since mid-September.

XLM/BTC chart by TradingView

On the daily chart, XLM is located within the triangle pattern with a possible breakout downward. Such a scenario is supported by the declining trading volume, which has been going down since the end of September. Moreover, the blue line of the MACD indicator has crossed the red one which means the trend change. Respectively, the rate of XLM is about to sink below 700 satoshis in the short-term.

XLM is trading at 0.00000783 BTC at press time.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
493 views

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

👉MUST READ

Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

👉MUST READ

Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted