Weekly Altcoin Price Analysis: Cryptocurrencies Facing Storms Together with Bitcoin
Bitcoin had a larger than usual fluctuation, gaining 20% in price only to drop 20% back to the original price range, Litecoin broke through it's ceiling reaching $3.80, $4 and $4.20 all the way to a peak of $4.35, only to fall back down to $3.50 where it is now. A correction back to $3.80 is probable. The LTC/BTC pair exchange rate continues decreasing reaching 0.083-0.084. It is projected that if Bitcoin goes lower than $400 for too long Litecoin will most likely fall into a long depression.
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Litecoin for some moments returned to the level of $3.00. It seems that it is not the last contact with the strong level of $3.00. Traders can make careful purchases below the level of $3.00. The main weakening factor for all cryptocurrencies now is the Chinese New Year’s Eve. Traditionally, during this period Chinese people exchange cryptocurrencies for Yuan. I must remind you, that Litecoin has a wide popularity among Chinese miners and traders. Therefore, it is hardly possible to count on growth of this cryptocurrency in the next few days. DASH surely and quietly grows, without paying....
Kyber Network (KNC) has recently struggled against tether (USDT) after its price was rejected at $5.5. Bitcoin’s (BTC) price increased dramatically, rising from a low of $18,500 to a high of $21,000. This movement has impacted other altcoins, as most cryptocurrencies, including Kyber Network, are seeing double-digit gains (KNC). (Data from Binance) Related Reading: Algorand Fast Upgrade Could Be A Game-Changer – Here’s How Kyber Network (KNC) Price Analysis On The Weekly Chart The price of KNC has had difficulty replicating its recent bullish move, which saw the price rally to $5.5....
The price of Binance Coin (BNB) has struggled to break above $337 against Tether (USDT) after being rejected from that region. Binance Coin price in the past few weeks outperformed the price of Bitcoin (BTC) but has not been able to match the strength it has shown earlier to break above this resistance and trend higher. Related Reading: Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone Binance Coin (BNB) Price Analysis On The Weekly Chart From the chart, the price of BNB saw a weekly low of $209, which bounced from that area and rallied to a price of $337 after....
The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region. Ethereum price in the past few weeks outperformed the price of Bitcoin (BTC) but has shown bearish signs indicating the ETH price could be set to retest the nearest support. Related Reading: TA: Ethereum Could Take Hit As The Bulls Show Weak Hands Ethereum (ETH) Price Analysis On The Weekly Chart From the chart, the price of ETH saw a weekly low of $1,700, which bounced from that area and rallied to a price of $2,030 after showing great recovery signs in recent....
Ethereum ETH price regained its bullish trend against Tether (USDT) as it builds more strength to break above the key resistance ahead of “The Merge.” ETH price saw a rejection to a region of $1,500 recently as it could not hold its bullish trendline acting as support. (Data from Binance) Related Reading: Shiba Inu Burn Events Spark A Rally In Altcoin Over The Past Weeks Ethereum ETH Price Analysis On The Weekly Chart From the chart, the price of ETH saw its price rejected to a region of $1,540 on the weekly chart as the price was unable to hold $1,700 and the trendline acting....