Last week, there was a significant fluctuation in the crypto currency market due to inflation reports. This led to decreases in the prices of subcoins such as BNB, Litecoin (LTC Coin) and XRP. However, large investors considered this situation as an opportunity to purchase. These developments have increased the expectation that these subcoins will recover a significant price this week. Here are the Altcoins that should be followed according to Analyst Shayan Chowdhury…
Binance Coin (BNB) Price Analysis
While the general market has entered the stage of correction, the latest developments in ETFs have increased investors’ interest in potential recovers in subcoins. In particular, the adoption of ETF applications for Grayscale and 21shares for XRP by the US Securities and Stock Exchange Commission (SEC) made XRP remarkable. In addition, the excitement of Potential ETFs for the left and Dogge is growing with SEC’s positive response to crypto currency -supported ETF applications. These developments offer investors the expectation of recovery in the prices of leading subcoins this week.
According to the analyst, recently, the price of Binance Coin (BNB) could not exceed $ 700 above the level of purchasing has decreased. Currently, the level of $ 650 is expected to be tested. The price of the BNB is currently trading at $ 656 and has a decrease of 0.2 %in the last 24 hours. The BNB/USDT parity is expected to rise to 689 levels, but the possibility of a strong resistance may cause the price to decrease to 648. Since the Relative Strength Index (RSI) is 48, ie slightly below the neutral level, the price of the BNB can be recovered in the short term.
However, if the BNB exceeds the $ 689 level and increases, a rise can be achieved towards $ 725. On the other hand, if the price falls below $ 648, the price is possible to decrease to 623.
LTC Coin and XRP Analysis
Litecoin (LTC) shows a strong recovery towards the high $ 137 level. However, bears advocate resistance levels and it is seen that the price of LTC has difficulty exceeding this level. Currently, LTC is traded at $ 133 with an increase of 3.7 %in the last 24 hours. If the price of Litecoin falls below the 20 -day EMA level, the sellers may take the LTC/USDT parity to a $ 114 support point. However, buyers will try to maintain this level, if the sellers are dominant, the price is possible to decline to $ 100. On the other hand, if Litecoin exceeds $ 150 resistance and remains on it, this may indicate that the bear pressure ends and the price may rise to $ 200 levels.
According to the analyst, the XRP was stuck between $ 2.27 and $ 2.55, while recently experienced a upward breakage and is now under $ 2.8. Buyers aim to reach the next resistance level to $ 3.4 by keeping the price above $ 2.8. However, if the price cannot maintain its current momentum, sellers may still be strong and may cause the XRP to retreat to 2.5 levels. These developments point to the recovery of a potential price that needs to be carefully monitored in the crypto money market this week.
