Which altcoin out of Cardano (ADA), Litecoin (LTC) and EOS can show the same performance as Bitcoin (BTC)?

Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The situation is almost unchanged on the cryptocurrency market over the last day as neither bulls nor bears are dominating at the moment. Chainlink (LINK) is the main gainer out of the Top 10 coins, whose rate has increased by 4%.

Top 10 coins by CoinMarketCap

Top 10 coins by CoinMarketCap

The vital data for EOS, Cardano (ADA) and Litecoin (LTC):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

EOS

EOS

$2,469,165,045 $2.64 $2,149,995,550 -1.56%

Cardano

ADA

$3,244,869,808 $0.104295 $772,108,113 -3.35%

Litecoin

LTC

$3,296,714,579 $50.21 $2,884,224,144 -0.15%

EOS/USD

Even though EOS has gone down by 1.56% over the last day, its rate has risen by more than 5% over the previous 7 days.

EOS/USD chart by TradingView

EOS/USD chart by TradingView

On the daily chart, EOS has consolidated in the area of a false breakout of the $2.86 mark. The short-term projection is bullish as the selling volume is going down and liquidity is high around $3.

👉 MUST READ
BTC, ETH and XRP Price Analysis for October 12related article image

Thus, the RSI indicator has formed a bullish divergence that confirms upcoming growth. In this case, the previous level of $2.86 is likely to be retested shortly.

EOS is trading at $2.63 at press time.

ADA/USD

Cardano (ADA) has been more bearish than EOS since yesterday. The price of the altcoin has decreased by 3.35% although the short-term scenario is bullish.

ADA/USD chart by TradingView

ADA/USD chart by TradingView

On the daily chart, Cardano (ADA) has been trading in the rising channel since the end of September. The ongoing price rise is supported by the high liquidity level above and a low selling trading volume, which means that bears are running out of power to push the rate deeper. That is why buyers can expect the retest of the resistance at $0.117 soon.

Cardano is trading at $0.1054 at press time.

LTC/USD

Litecoin (BTC) is the biggest gainer today as the rate of the “digital silver” has fallen by only 0.15% over the last 24 hours.

LTC/USD chart by TradingView

LTC/USD chart by TradingView

Litecoin (LTC) keeps trading in the ascending channel against the decreasing buying trading volume. The current price rise is a correction of the recent fall rather than a start of a new bull run as buyers lack the liquidity to push the rate higher. Likewise, the ongoing growth may continue to $54 where a false breakout may happen, followed by a further drop.

Litecoin is trading at $50.93 at press time.

article writer image

Denys Serhiichuk

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 makes 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, can be contacted at denys.serhiichuk@cryptocomes.com

(Excerpt) Read more Here | 2020-10-12 07:31:05
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.