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

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  • Denys Serhiichuk
    📈 Price Predictions

    Any chance that Bitcoin and altcoins will move in one direction?

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

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

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

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. 

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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

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

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

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.

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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 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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Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security

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    Ripple makes a final push to dismiss the damning class-action lawsuit ahead of a court hearing that is scheduled for January 2020

Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security
Cover image via 123rf.com

Ripple has once once again asked a federal court to dismiss the pending class-action lawsuit over selling illegal securities, a new court filing shows.

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The company reiterates the same "statue of repose" argument, which means that the plaintiffs failed to meet a legal deadline for filing the suit. Ripple started selling XRP to retail investors back in 2013, which means that it was way too late to bring legal actions against it back in summer 2018 after a bar to a lawsuit was imposed in 2016.    

The blockchain behemoth also continues to insist that XRP is not a security, but it called this issue "irrelevant" to their latest motion, which is why it didn't address this point in-depth. It's not the first time that Ripple tries to dodge the big question that is the cornerstone of the long-lasting legal battle. 

"XRP is not a security, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff's claims still fail as a matter of law,” the filing said.   

Ripple's previous attempt to throw the suit out of the court didn't bode well. As reported by U.Today, Bradley Sostack, the leading plaintiff in the ongoing case, believes that the defendants are still liable for selling illegal securities. The parties are expected to duke it out in court in January 2020.  

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XRP's status as a security remains a point of contention within the cryptocurrency industry. Crypto influencer BitLord recently slammed Ripple for dumping their native tokens on investors to acquire businesses.    

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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.

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