Litecoin (LTC), Binance Coin (BNB), Tron (TRX) Price Analysis And Forecast

XRP and Stellar Lumens (XLM) Price Prediction and Analysis

Litecoin (LTC-USD)

Litecoin (LTC), Binance Coin (BNB), Tron (TRX) Price Analysis And Forecast

In the last day, Litecoin has been undergoing a sideways trade. It started selling at $139.03 against the current price of $134.77 as calculated by Kraken.

A bullish accumulation pattern began the day (A), with the 7 day MA above the 21-day MA that indicated a bullish signal. This showed that the market is exhibiting a strong buying pressure as reflected by the RSI X that is seen above level 70 indicating an overbought market.

The price momentum was able to rice due to the assistance from a bullish regular divergence pattern that landed to a high of $144.13.

At around 12 June 16:00 a bearish pattern is encountered that massively pushes the price momentum down, due to the strong selling pressure that came from traders.  A bear market is therefore signaled by the 21 day MA that crossed over the 7 day MA at that period. The dip of Litecoin price has led to an increase in buyouts.

The price performance had dipped to a low of $130.22. The price later on consolidated between resistance level $136.96 and Support level $133.59. The significance level was tested severally before placing Litecoin to its current market cap of $8.3 billion.

FORECAST

Bearish momentum is likely to continue since the 21 day MA is still above the 7-day MA.  A breakout or breakdown is also likely to occur. Traders should, therefore, be ready to place a stop-loss before they enter.

Binance Coin (BNB-USD)

Litecoin (LTC), Binance Coin (BNB), Tron (TRX) Price Analysis And Forecast

BNB/USD is undergoing a bullish outlook since it’s up by 4.7%. The bullish market is buttressed by the 7 day MA that is generally seen above the 21-day MA. The BNB/USD pair started selling at $33.91 (A) against the current price of $35.59.

A strong buying pressure is therefore encountered, as reflected by the RSI indicator X that is consistently seen above level 70 thus indicating an overbought market.

The price increase of the BNB coin has therefore positively affected investors. BNB price increase may be as a result of the positive development and progress going on with the Binance Launchpad, New Chain and DEX.

FORECAST

An upward trend is likely to continue since the 7 day MA is still above the 21-day MA indicating a bullish signal. New target should be at $37.

Tron (TRX-USD)

Litecoin (LTC), Binance Coin (BNB), Tron (TRX) Price Analysis And Forecast

Tron is exhibiting an upward trend in the last 24hrs. The bullish regular divergence patterns that seem to appear repeatedly thus confirm the trend.

TRX began the day trading with a bullish engulfing pattern that triggered the price momentum up to close at $0.03282. The price later consolidates at 0.03254 that is the support level.

The RSI indicator signaled oversold market momentum at point B and C. This shows that the market at that time was undergoing a strong buying pressure due to increase in demand.

TRX price performance, later on, manages to breach resistance level $0.03308 (R) and further pushed the price up to a high of $0.03401.This enabled the support level to climb up to $0.03314 (x).

A bearish accumulation candle is later seen at around 13 June 01:00 which reverses the trend from an uptrend to a downtrend. Traders place Tron to its current price of $0.03290 and reject the lower price of $0.03259.

The RSI indicator is declining during the last hours thus reflecting a high level of selling pressure.

FORECAST

A further downtrend is likely to continue since the 21-day MA is almost crossing over the 7-day MA. New target should be set at $0.0324.

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