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📈 Price Predictions
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LTC, ETH, EOS, and XRP Prices Nosedive – Predictions After the Bloody Night on the Crypto Market

LTC, ETH, EOS, and XRP Prices Nosedive – Predictions After the Bloody Night on the Crypto Market
Cover image via 123rf.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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No one expected that cryptocurrencies can fall so harshly and so dramatically. The 10-20% drop in the price of major cryptos was a real stab in the back for traders (but don’t say we haven’t warned about that). Does the drop mean the beginning of a new bearish era? Let’s read price predictions for LTC, ETH, EOS, and XRP from tradingview users and find out what to expect from major cryptocurrencies in the short term.

 

Litecoin has opened a retracement area

LTC might dump to $54

Checking the LTC price chart from EuroMotiff, look at the Support and Resistance Zones. After the dump, Bitfinex and others made a mess on the market, but Litecoin managed to stop its losses at the $84 level. Now, it looks like we might drop to the $80 area. $84 zone is holding so far but is getting rejected by subsequently lower fibs. Also, in the past FUD at tops comes in at least 3 rounds. Thus, EuroMotif expects another round of 'scary' news to drop prices. A drop to $80 wouldn’t be good for Litecoin.

Litecoin just got rejected by long term trend line resistance, so if it is not able to go through, it will get rejected and pull back at 61,8% fib level or a 200 MA which can act as support. It means LTC might go as low as $54.

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Ether is in consolidation/wedge

Key support for ETH is $230

Initially, user hyryda saw LTC being in Wave 4, inside a bigger wave, 3.5 wave, impulse up to complete Point D and then a fall again for Point E and completion of the wedge pattern. After the pattern is complete we will see another rise in the price of Bitcoin/Ethereum. The smaller wedge looks like it's playing out longer and there could be a blast up from here. If this pattern actualizes, Ethereum has a chance to reach $250 again. If this scenario comes true, expect new resistance levels at $278 and $292. At the moment, key support is found at the $230.00 and $210.00 levels.

There’s still a chance for EOS?

EOS is in a cup and handle pattern

Looking at the EOS chart from quantacake, we see that cup and handle has broken out. Taking the difference between the bottom of the cup and the bottom of the handle and adding it to the top of the handle, we can expect about a $3.78 increase up to about $8.50. If the entire market holds up and stops falling for a week or two, EOS has the potential to reach the target.

Turns out, EOS depends on the entire cryptocurrency market to decide on its fate. With its current price at $5.8, it hasn’t lost all potential yet.

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XRP – Better hold

XRP could go back to $0.28

At the moment, Ripples’ strengths outweigh its risks, and you may still consider taking profit at around $0.53, not higher. However, in the conditions of the current market, XRP could go back down to $0.366 and $0.28. That’s why it would be wiser to continue holding it.

By the way, a lot of traders are still wondering why XRP hasn’t done well during the previous bull run.

Ripple has been successful in developing cross-border payment solutions, adding a substantial number of partners to its network. However, its most popular products are not structured to utilize the XRP ledger – this is why the market saw the lack of volume and XRP hasn’t grown as much as expected. With the release of xRapid, the company could capitalize on the current user base since it would further decrease the costs and time of cross-border transactions. This could push the adoption of the XRP ledger and the demand for the XRP token.

Bottom line

The recent fall of the crypto market hasn’t left any cryptocurrency untouched – we witnessed a massive drop by 10-20%. The bearish market has already started, but it might not last too long this time. Besides, a few cryptos are still believed to reach higher highs. It’s up to you to decide whether you want to sell your crypto reserves.

Price charts are taken from TradingView

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Crypto Exchange Huobi Completes $40 Mln Token Burn for Q3

  • Alex Dovbnya
    📰 News

    Cryptocurrency exchange Huobi announces the results of its quarterly burn

Crypto Exchange Huobi Completes $40 Mln Token Burn for Q3
Cover image via www.123rf.com

According to a press release obtained by U.Today, Singapore-based exchange Huobi continues to reduce the supply of its native Huobi Token. In Q3, it burned $40.63 mln worth of HT, which represents a 70.6 percent increase compared to the previous year. 

Huobi purchases back outstanding tokens from investors in order to reduce the circulating supply of HT and stabilize its price. It is worth noting that the amount of tokens it burns every quarter depends on particular market conditions.   

The company cites the success of its spot trading and derivatives trading markets as the main reason for another token burn. 

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Huobi Token is the second-largest exchange coin token after Binance Coin (BNB). At press time, the coin's price is sitting at $3.46 with its market cap exceeding $810 mln, according to CoinStatsData.    

Huobi Global CEO Livio Weng claims that the cryptocurrency plays "a core role" in the Huobi ecosystem.  

"Huobi Token plays a core role in the Huobi ecosystem. The continued growth from Huobi’s token burns reflects the community’s active participation and optimistic outlook for our efforts to provide users with new services, lower fees, and a secure platform to trade on."

One of the oldest crypto trading platforms has already burned 13.8 percent of its native coin's circulating supply, which is currently sitting at 234,205,522.92 HT. 

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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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