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BTC, EOS, LTC, TRX, ADA Price Prediction: Can BTC's Declining Dominance Result in an Altcoin Movement?

Price Predictions
Sat, 11/16/2019 - 14:27
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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.

The cryptocurrency market has not had a significant movement since yesterday. All of the top 10 coins are facing a downtrend trend, losing about 2% each against the US Dollar. 

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Below is important data for Bitcoin (BTC), EOS (EOS), Litecoin (LTC), TRON (TRX), and Cardano (ADA):
 

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$154,146,619,572

$8,539.70

$19,276,085,202

-1.24%

EOS

EOS

$3,176,266,511

$3.38

$1,769,244,181

-2.62%

Litecoin

LTC

$3,726,767,692

$58.51

$3,103,347,610

-2.14%

TRON

TRX

$1,245,945,026

$0.018685

$957,010,571

-3.03%

Cardano

ADA

$1,134,502,002

$0.043757

$75,079,730

1.73%

BTC/USD 

Our recent Bitcoin (BTC) price prediction remains relevant, with expected growth to the $8,800 mark happening sooner than later.

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

Looking at the 4H chart, the leading crypto may touch the bottom at the $8,400 level. While it is too early to project the end of the bearish wave (started at $14,000), a small bounce back to $9,000 might happen in the next few days. Moreover, the relative strength index (RSI) indicator is located at the edge of the oversold area.

At press time, BTC is trading at $8,460.

EOS/USD 

EOS (EOS) is moving according to our earlier forecast, and an expected support level of $3.25 could potentially be reached in a short amount of time.

EOS/USD chart by TradingView
EOS/USD chart by TradingView

Before the rate updates itself with a new bottom, EOS is about to re-test a resistance level of $3.40 through the end of November. However, the trading volume is decreasing as sellers are losing their positions. This has been confirmed by the moving average convergence divergence (MACD) indicator, which is about to turn green. 

Must Read
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Last but not least, the relatively strong position of the altcoin market is reflected in the decreasing market share of BTC.

At press time, EOS is trading at $3.35.

LTC/USD 

While the altcoins have not reacted significantly to BTC's price dynamics as previously, Litecoin (LTC) can't seem to get out of the bearish trend yet.

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

While the trading volume index decreases, the bulls do not have enough strength to even start a local uptick. Furthermore, the lines from the Bollinger Band indicator are moving downward. Respectively, a possible level where buyers might show resistance is at $57.

At press time, LTC is trading at $58.31.

TRX/USD 

TRON (TRX) is the biggest loser from our list. Its rate has dropped by more than 3% since yesterday. 

TRX/USD chart by TradingView
TRX/USD chart by TradingView

Looking at the 1D chart, TRX is located within the triangle, with a possible downward movement. The dominating bearish sentiments confirm the absence of buyers based on the trading volume index and the failure of TRX reaching a crucial resistance level of $0.02. In this regard, traders might expect TRX to reach $0.015 in a short amount of time.

At press time, TRX is trading at $0.0185.

ADA/USD 

ADA is the only winner today as its rate has gone up by 1.73% in the last 24 hours. 

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

Despite the relative slight upswing, ADA is continuously being pressured by the bears. This is based on data from the 1D chart. Since October 24th, this coin has been on an upward trend; however, one might expect a decline shortly. The MACD indicator has almost reached its local peak, confirming a decline to $0.041.

At press time, ADA is trading at $0.0435.

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.

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Price Predictions
Tue, 03/31/2020 - 14:37
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

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Sponsored by Celsius.Network
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.

The cryptocurrency market has been maintaining less and less strength for continued growth despite the fact that most of the top 10 coins are in the green zone.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

However, a slight bounce back has influenced the total market cap, which has increased by around $3 Bln since yesterday.

Total market cap
Total market cap

The relevant data for Bitcoin is below.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $117 926 694 477

  • Price: $6,445.12

  • Volume (24h): $35 955 339 080

  • Change (24h): 1.98%

The data is relevant at press time.

BTC/USD: Any chances left of conquering $7,000? 

Bitcoin (BTC), on the 4H timeframe, has continued moving in a range ($5,800- $6,900). After the March 29 decline, one has confirmed the lower border (support) of this range near the $5,800- $5,900 zone.

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

The main resistance is at around $6,620. The main and key support is also around the $6,100- $6,250 marks. Using the volume profile, you can more accurately see it at the $6,170 - $6,190 level.

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

On the daily timeframe, the decline was absorbed immediately in 2 days (March 28 and 29). While the price is trading above $5,900- $6,100, there are chances of continued growth and a test at the $6,900 - $ 7,100 level again.

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The longer the price stays in the $5,800- $6,900 range, the greater the likelihood of an accumulation phase. In this case, one can predict a price increase to $8,500 in the medium term. For this, Bitcoin (BTC) needs to trade above $5,100 so as not to break the main trend.

Bitcoin is trading at $6,429 at press time.

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.

Recommended articles
Safe Haven? Bitcoin (BTC) Greatly Outperforms Stocks in Q1 Despite Price Plunge

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COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

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Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

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