LTC, TRX, EOS, ADA Altcoins Price Analysis — Substantial Growth Happened Against the Stagnant Bitcoin

Libra Coin News
Sun, 08/11/2019 - 10:55
Denys Serhiichuk
While Bitcoin keeps declining, top coins are giving profit to their holders. Should we consider it as altcoins’ revival?
Cover image via U.Today
Contents

The end of the week has turned to be very successful for altcoins, as all top 20 cryptocurrencies are in the green zone in correlation to Bitcoin. The biggest gainer is Cardano whose rate has soared by more than 10% over the last day.

Top 10 cryptocurrencies by CoinMarketCap

The reason for such steady growth relates to the stagnant position of Bitcoin, as the leading crypto has fallen by almost 4% over the previous 24 hours. Its dominance index has also gone done and now is 68.8%.

LTC/BTC

Although the halving of the ’digital silver’ has not positively influenced the rate of Litecoin, its price has increased by more than 5% over the last day.

LTC/BTC chart by TradingView

On the 1H chart, Litecoin has touched the bottom at the level at 0.007 BTC. In a short-term scenario, LTC is about to finish the formation of a Triangle pattern. The quotes are likely to locate sideways, followed by a slight price decline. The declining trading volume confirms such a forecast.

The price of LTC is trading at 0.007630 BTC at the time of writing.

TRX/BTC

Even though TRX has lost its position in the top 10 global cryptocurrency ranking, its price has increased by 4.45% over the day.

TRX/BTC chart by TradingView

The current growth of TRX does not affect the trend change of the coin, as it remains bearish. According to the chart, Tron has been dominated by sellers from the beginning of June. Both, the MACD indicator and the trading volume index suggest the continued fall to the mark at 150 satoshi.

The price of TRX is trading at 0.00000179 BTC at the time of writing.

EOS/BTC

EOS is one of the top gainers, its price has rocketed by more than 7% against Bitcoin. This is the biggest growing index among the top 10 coins.

EOS/BTC chart by TradingView

On the 4H chart, EOS is trading in a similar way to Litecoin, forming the Triangle pattern. The short-term is bullish, as the lines of the MACD indicator are directed upward. The trading volume also remains fixed, neither going down no increasing. In this case, EOS might test the closest resistance at 0.0004 BTC until the end of August.

The price of EOS is trading at 0.0003640 BTC at the time of writing.

ADA/BTC

The rate of ADA is standing out from the rest coins, as its price has jumped by 10% in correlation to BTC over the last day.

ADA/BTC chart by TradingView

Although ADA is the top altcoin today, its rate is not going to show steady growth in a long-term scenario. Despite the relatively high trading volume, MACD is bearish on the 1H chart. In this regard, ADA is about to locate in the yellow corridor soon between the marks of 440 and 480 satoshi.

The price of ADA is trading at 0.00000464 BTC at the time of writing.

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 make 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.


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