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LTC, BNB and LINK Price Analysis for December 10

When is the correction of the prospective altcoins going to finish?

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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.

Most of the Top 10 coins remain under a bearish mood even though the correction might have finished for some assets. Mainly, XRP, Chainlink (LINK) and Cardano (ADA) are in the green zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The vital information on Litecoin (LTC), Binance Coin (BNB) and Chainlink (LINK).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Litecoin 

LTC

$4,967,010,129 $75.02 $3,415,934,828 -2.17%

Binance Coin

BNB

$3,998,475,520 $27.63 $281,506,842 -1.40%

Chainlink

LINK

$4,841,480,172 $12.17 $987,209,176 -0.61%

LTC/USD

Litecoin (LTC) is the main loser from the list. The rate of the "digital silver" has gone down by 2.17% over the last day.

LTC/USD chart by TradingView
LTC/USD chart by TradingView

On the daily chart, Litecoin (LTC) failed to fix above the crucial resistance of $90. The buying volume is declining, which means that the decline has not finished yet. At the nearest support level, traders may consider the $64 mark. If sellers break, the long-term bullish trend might come to an end.

Litecoin is trading at $74.71 at press time.

BNB/USD

Binance Coin (BNB) is looking more positive than Litecoin (LTC). The rate of the native exchange token has decreased by 1.40% over the previous 24 hours.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

On the daily time frame, Binance Coin (BNB) has bounced off the support at $27. A further drop is unlikely to occur as there is almost no liquidity below $25.

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The selling trading volume is also going down, which means that bulls have quite a good chance of seizing the initiative and getting the rate of the altcoin to the range of $28.50-$29.50 shortly.

Binance Coin is trading at $27.64 at press time.

LINK/USD

Chainlink (LINK) is the top gainer today. Its rate has declined by only 0.61% since yesterday.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

From the technical point of view, Chainlink (LINK) is trading similarly to Litecoin (LTC), as the ongoing correction might not have finished yet. As the more likely price action, the rate of the altcoin may face one more wave of a drop to the liquidity level at $11.30 before the growth continues.

Chainlink is trading at $12.06 at press time.

 

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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