ETH, BCH, BSV, LTC, BNB Price Analysis: Any Reasons for Growth Against Bitcoin (BTC)?

Price Predictions
Sat, 06/27/2020 - 15:44
Denys Serhiichuk
Which of the altcoins may grow faster in correlation to Bitcoin (BTC)?
Cover image via www.tradingview.com

Since the beginning of the day, cryptocurrencies have been unable to maintain short-term growth. Respectively, all of the Top 10 coins have come back into the red.

Top 10 Coins by Coinstats

Below is the vital data for Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin SV (BSV), and Binance Coin (BNB).

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Ethereum

ETH

$25,687,449,544

$230.33

$6,021,078,735

-0.01%

Bitcoin Cash

BCH

$4,224,806,203

$229.03

$1,036,930,262

-0.58%

Litecoin

LTC

$2,785,363,691

$42.92

$1,435,057,871

0.42%

Bitcoin SV

BSV

$3,108,833,418

$168.55

$949,537,522

-0.24%

Binance Coin

BNB

$2,439,875,538

$15.69

$126,020,491

-0.35%

ETH/BTC

If Ethereum (ETH) is falling against the U.S. Dollar, then its rate is in correlation with Bitcoin (BTC) and is showing better price dynamics. The price of the leading altcoin against BTC has remained relatively in the same position since yesterday.

ETH/BTC chart by TradingView

On the daily chart, Ethereum (ETH) is trading within the rising channel since mid-May. However, the trading volume remains the same, without a significant rise.

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In terms of the liquidity level, it is quite high at the current area which means that the current zone is good for buyers. As the more likely scenario, traders may expect a move to the top level of the channel at 0.0255 BTC shortly.

Ethereum is trading at 0.02506 BTC at press time.

BCH/BTC

Bitcoin Cash (BCH) is looking much worse than Ethereum (ETH) against Bitcoin (BTC). The rate of the coin has lost 0.58% over the last day.

BCH/BTC Chart by TradingView

The short-term outlook for Bitcoin Cash (BCH) is bearish as there is a buyer's influence to push the price higher. What is more, there is s bearish divergence on the Relative Strength Index (RSI). To sum it up, there is a high probability of seeing BCH trade near the 0.0245 BTC level within the next days.

At press time, Bitcoin Cash was trading at 0.025004 BTC.

BSV/BTC

From a technical perspective, Bitcoin SV (BSV) is trading in a similar manner to Bitcoin Cash (BCH). The rate of the coin has dropped 0.24% since yesterday.

BSV/BTC Chart by TradingView

Bitcoin SV (BSV) has been trading in the descending channel since the start of May. At the moment, there are no signals that indicate that the altcoin may bounce off. Its trading volume is at a local minimum level. This is why the 0.018 BTC area may be tested shortly.

At press time, Bitcoin SV was trading at 0.01831900 BTC.

LTC/BTC

Litecoin (LTC) is one of the few coins that may grow faster than Bitcoin (BTC). The rate for the 'digital silver' has gone up by 0.42% in the last 24 hours.

LTC/BTC Chart by TradingView

Litecoin (LTC) has bounced off its support zone at 0.004580 BTC, confirming pressure from the bulls. The rise is accompanied by the late amount of trading volume, which means that the growth is not a false breakout. The next resistance that might be an obstacle for the bulls is at 0.004735 BTC, which may be achieved shortly.

At press time, Litecoin was trading at 0.004653 BTC.

BNB/BTC

Binance Coin (BNB) has lost about 0.35% since yesterday against Bitcoin (BTC); however, it still has growth potential.

BNB/BTC Chart by TradingView

Binance Coin (BNB) rested its support level at 0.0017 BTC, which was followed by a bounce off. However, this rise is unlikely to continue because there was no volume support. In this regard, a sideways trend is more likely as neither the bulls nor the bears are controlling the situation at the moment.

At press time, Binance Coin was trading at 0.0017148 BTC.

 

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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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