The Bitcoin effect brought new ATH news in altcoins, but these increases were replaced by declines.Litecoin (LTC)
Reaching its local peak with $ 247 last day, LTC dropped to $ 220 during the day.
Technical indicators for a well-performing asset show the possibility of some further decline.
The MACD indicator is seen in a downward trend on the 4-hour charts. RSI data is currently above the neutral 50, but far from overbought territory. Likewise, Stochastic data is also signaling towards a more stable point in the oversold zone due to profitability.
Another situation that increases the likelihood of LTC falling after the trend movement is hidden in the 20-day moving average data. LTC is currently hovering in the $ 230 band and the asset sees value below the moving average line. The continuity of these parameters can lead to a decline of $ 216 seen in the Fib correction. The possibility of going above the moving average may bring bullish signals again. In this case, the weekly upward movement for the asset could exceed $ 247 to $ 261. If the resistance level exceeds $ 242, it will accelerate the process.
We can say that the bearish signals for Tezos (XTZ) proved their correctness with daily sharp decreases as we wrote yesterday. The asset, which dropped to $ 4.30 instantly during the day, is currently in the 4.70 band and is still at a critical threshold.
On the daily charts, it is seen that the expansion in Bollinger bands tends to decrease. In addition, RSI and stochastic RSI data also moved away from the extreme region and directed a decline. The MACD indicator also tended to decrease with the loss of pressure. The price is moving above the 20-MA for now, but sell pressures still remain. The weekly advancement may support the slightly lower horizontal movement for Tezos.
The high volatility causes investors to be shy and this triggers a decrease in demand. Continuation of this situation may lead the price to decline up to $ 4.51 again. The support level is supported at $ 4.63. A jump request could lead to the ATH test again, but the bulls will need to support XTZ in the $ 5.14 hard resistance.
Binance Coin (BNB)
Binance coin (BNB) reached an ATH close to $ 370 and quickly withdrew again. After a long period of horizontal and low volatility, the trend caught incredibly fast and the bull presence took advantage of this situation. BNB is currently trading at $ 295 and ranks 3rd in the market value ranking.
Although the post-peak profitability pressure for Binance’s native coin BNB has created a decline, the possibility of a new trend movement draws attention in the week review. The MACD data repeated the bullish trend on the daily charts, and the RSI data is back up the bearish trend into the neutral zone. Bollinger bandwidth protects itself.
Although this new trend initiative is likely to be strong in the long run, the pullback pressure after ATH may occur for a while. This weekly move shows that it is closer to a more retracement. The 4-hour data signals that the trend for the RSI and MACD is far away for now. This withdrawal can pull up to a place where it can offer up to $ 274 buying opportunities. The drop offers a better leap for recovery, as these signals increase, it will move towards the test point again. A new ATH possibility could be discussed for BNB as it breaks the resistance of $ 348.
Cardano (ADA) reached its record of $ 1,198 after breaking the $ 1 resistance point. The ADA value supported at $ 1.02 is currently trading at $ 1.10 and may increase the rate of decline.
ADA has experienced a post-record retracement and the continuation of this decline may come for a while. Especially the 20-MA and exponential moving average data support signals that the decline will come. ADA, which fell below the 20-day moving average level, increased the red signals on the candles on the hourly charts. It is traded below the limit as of evening hours. RSI and MACD data are bearish, but the bulls are trying to keep the price within the 1.10 band.
Daily charts support some decline as the week progresses. The asset could continue to retreat to the $ 1.02 support point. The support level is strong for ADA, but bearish pressure must be lost. In this way, more acceleration can change upwards. It seems inevitable for ADA in the medium term. This will increase its price to $ 1.24. If the decline goes below the support, the value could quickly drop again below $ 1.