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📈 Price Predictions

BCH, LTC, ADA Price Analysis — Altcoins Are Going Up as Bitcoin Sees Slight Increase

  • Denys Serhiichuk
    📈 Price Predictions

    Against the increasing rate of Bitcoin, altcoins are not staying aside from the market. Our price analysis explains which altcoins to choose to make a profit against BTC


BCH, LTC, ADA Price Analysis — Altcoins Are Going Up as Bitcoin Sees Slight Increase

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. 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.

Contents

Thursday, July 18 has started with the growth of major altcoins against the US Dollar. However, the price of some assets are increasing even more in correlation to Bitcoin. Respectively, the dominance index of BTC has fallen and now makes up 65.3%. 

Bitcoin market share
Bitcoin domination index by CoinMarketCap

Regarding the technical analysis, the picture is looking the following way.

BCH/BTC

Our earlier Bitcoin Cash prediction came true, as the coin confirmed its bullish trend to the nearest resistance at 0.03050 BTC. 

BCH/BTC 1-day chart
BCH/BTC chart by TradingView

Analyzing BCH against Bitcoin on the 1D chart, the asset is still located under bearish tendencies, which is confirmed by the declining MACD indicator. The nearest scenario is a consolidation in the yellow corridor between 0.028 BTC and 0.035 BTC. The price is unlikely to go higher due to the absence of traders and low trading volume.

The price of BCH is trading at 0.03037 BTC at the time of writing.

LTC/BTC

Litecoin is the biggest gainer, as its price has increased by around 15% over the last day, which is the biggest index compared to other top 10 coins. 

LTC/BTC 1-hour chart
LTC/BTC chart by TradingView

On the 1H chart, LTC remains bullish trend and might reach the vital resistance at 0.01 BTC soon. The rising line of the RSI indicator confirms such a scenario. On the other hand, Litecoin might retest the support at 0.009095 BTC before moving to new highs.

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LTC is trading at 0.009425 BTC at the time of writing.

ADA/BTC

Cardano is showing similar patterns to Bitcoin Cash, as its rate has increased by only around 1% over the last 24 hours.

ADA/BTC 1-hour chart
ADA/BTC chart by TradingView

ADA is located neither under bullish, no bearish mood. In terms of the nearest price scenario, traders may expect Cardano price in the range between 600 and 565 Satoshi. The MACD indicator which is in a sideways trend confirms such a forecast.

The price of ADA is trading at 581 Satoshi at the time of writing.

Cover image via www.123rf.com
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About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

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