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BTC, ADA, BNB and LTC Price Analysis for March 18

Price Predictions
Thu, 03/18/2021 - 15:55
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Denys Serhiichuk
Can Bitcoin (BTC) outperform altcoins in the short term?
BTC, ADA, BNB and LTC Price Analysis for March 18
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.

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Most of the coins have recovered after a recent sharp drop of the market. XRP is the only loser from the list, falling by 1.17%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The important statistics for Bitcoin (BTC), Cardano (ADA), Binance Coin (BNB) and Litecoin (LTC):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,028,785,568,302 $57,944.95 $3,590,364,854,526 4.54%

Cardano

ADA

$44,484,251,965 $1.43 $22,662,230,330 14.24%

Binance Coin

BNB

$40,848,410,142 $265.26 $2,678,795,050 5.06%

Litecoin

LTC

$13,404,094,321 $202.05 $3,724,825,660 1.88%

BTC/USD

Yesterday, buyers tried to restore the pair to the resistance of $58,000. In the first half of the day, they could not break above $56,400. Late in the evening, bulls formed a powerful impulse, which allowed the Bitcoin (BTC) price to overcome the resistance of $58,000 and gain a foothold in the area of $59,000.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

A rollback is possible this morning. If the price holds above $58,000, then the recovery will continue to the area of $60,000.

Related
BTC, ETH and XRP Price Analysis for March 17

If bears push through $58,000, then the pair might return to the area of average prices ($56,400).

Bitcoin is trading at $57,840 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer today. The rate of the altcoin has increased by 14.24% since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Despite the sharp growth, the rise may continue as the coin has accumulated enough power. In this case, possible bearish pressure may accumulate in the area of $1.54.

Cardano is trading at $1.43 at press time.

BNB/USD

Binance Coin (BNB) is the second biggest gainer today as the rate of the native exchange coin has gone up by 5%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

After a false breakout of the $300 mark, the altcoin is about to restest it within the next few days. Thus, the value of the RSI indicator has not reached the overbought zone, which means that a rise is more likely than a drop.

BNB is trading at $264.90 at press time.

LTC/USD

The rate of Litecoin (LTC) has not shown such enormous growth as Cardano (ADA). The price of "digital silver" has risen by 1.88% over the past 24 hours.

LTC/USD chart by TradingView
LTC/USD chart by TradingView

On the daily chart, Litecoin (LTC) is slightly approaching the first resistance at $208. From the technical point of view, LTC can break it and rise to the area around $227 where sellers might seize the initiative in the short-term perspective.

Litecoin is trading at $202 at press time.

 
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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 makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.