.png){kind=logo}
Price Analysis: ADA, LTC, BNB, TCRV
The crypto market is still recovering from the aftermath of the US Securities and Exchange Commission's (SEC) litigation against top exchanges and some altcoins about 2 weeks ago. While some cryptocurrencies have recorded a price rebound, it is important to look at the price movements of ADA, LTC, BNB, and TCRV.
Cardano (ADA) Price Analysis
Following a significant decline in early June, ADA's price has entered a period of consolidation, primarily trading above the $0.24 mark. For the past, the coin has been confined within a narrow range, with two prominent horizontal levels at $0.3 and $0.41 acting as key barriers.
Moreover, the 14-day Relative Strength Index (RSI) currently stands at 43.249, signaling a sell position. Consequently, buyers are advised to exercise caution when navigating the market.
Litecoin (LTC) Price Analysis
On June 10th, Litecoin's price declined, breaking below the symmetrical triangle pattern and signaling a prevailing bearish sentiment. The sellers managed to push the price below the immediate support level at $75 on June 14th, although they were unable to sustain the downward momentum. Nevertheless, the current price of the token stands at $73.
To initiate a price rally, the bulls will likely target the 20-day Exponential Moving Average (EMA) at $82, which serves as a crucial level to monitor. If the buyers overcome this obstacle, it may pave the way for further upward movement toward the 50-day Simple Moving Average (SMA) at $86.
Binance Coin (BNB) Price Analysis
Following the SEC's legal actions against Binance and Coinbase, Binance Coin, the native token of the Binance ecosystem has encountered substantial challenges. Amid the regulatory pressure, BNB stabilized near the $220 support level. However, it faces a critical obstacle at the resistance level of $250.8.
If BNB manages to surpass this resistance, it could kick-start a price rally followed by a huge sell-off which would cause a significant downturn. In such a scenario, it is advisable to closely monitor the immediate lower support levels at $200 and $184. These levels will play a crucial role in determining the token's future price movement.
Tradecurve (TCRV) Price Analysis
In contrast to the cryptocurrencies discussed above, Tradecurve (TCRV) has been experiencing a notable uptrend amid the bearish market. Over the past week, the price of TCRV has surged by 20%, reaching a new high at $0.018 and showcasing a strong bullish performance. The token's price had initially increased from $0.010 to $0.015 during the earlier stages of the presale.
This remarkable upward movement is due to increased interest and confidence from investors. Tradecurve has successfully captured this bullish sentiment within the overall bearish cryptocurrency landscape, mainly due to its pioneering efforts in developing the first hybrid (CEX and DEX) platform that enables users to trade both derivatives (such as forex, stocks, options, and commodities) and cryptocurrencies from one account.
Market experts have even predicted that as more traders join the Tradecurve platform, the price of TCRV could potentially surpass $0.0225 in the coming week. This optimistic outlook reflects the growing anticipation of investors for Tradecurve's hybrid platform.
Visit the links below to get more information about Tradecurve and the TCRV token:
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
