Trend of cryptomonies: LTC, BNB and ADA
Even though Bitcoin has been quite undecided in the last few days, some crypto currencies have continued to generate profits, such as ADA. Others, continue to have a bullish expectation for the short term, where we can include LTC and BNB. If you are interested in knowing the trend of these altcoins, stay tuned to this publication.
Trend of LTC, BNB and ADA
Today it is up to us to talk about these 3 important altcoins, each one occupying a good place in the ecosystem, solving different needs. This means that, although they move together most of the time, other times they can jump without any correlation.
This is how today we see the Cardano Cryptcoin (ADA), with an impressive revaluation in recent days, thanks to the excellent development environment that is living its chain, and with a fixed date for the launch of its next update, known as Shelley.
In the meantime, BNB and LTC have been moving in a quite correlated way. However, it is relevant to note that the Bitcoin Evolution token has a higher probability of revaluation in the short term. We will see this below, when we analyze in detail the trend of each of these cryptom currencies.
Litecoin, considered the silver of crypto currencies, was born with the aim of taking advantage of all the benefits of the BTC code, but looking for a way to make a network more economical and scalable.
This project has never intended to take Bitcoin’s place. The main idea is to use it for smaller transactions, such as retail. However, its adoption is still very small.
Although, from my point of view, there is not yet a clear picture of LTC in the long term, I can assure you that for the short and medium term we will see it fluctuate in a very correlated way with BTC.
The LTC trend for the next few days remains upward, quickly identifiable with rising minima, supported by the EMA of 8 and SMA of 18.
However, this view is not yet very strong. The SMA of 200, which is currently bearish, could work as a big dynamic barrier, just when the price reaches the USD 50.12 resistance. If it crosses it, it would be a very good sign for the medium term, as there will be no relevant barrier until the USD 63 or so.