MATIC, Litecoin, Binance Coin – Price Analysis
China’s crypto clampdowns have impacted alternative coins negatively. As a result, the entire crypto market witnessed increased price volatility this week. However, most altcoins recovered to trade in the green as Bitcoin gained more than 7.5%.
For example, Binance Coin had its trading volume rising by 110%, as MATIC remains at its vital support level. Moreover, Litecoin experienced a slight price correction in the past 24 hours. Let us find out what some of the top cryptocurrencies saw.
Binance Coin (BNB)
While writing this, Binance trades at $288.95 after an 8.3% increase. Keep in mind that Binance Coin broke the $290 support zone in the last 48 hours.
If the coin manages to hike its price further, it could trade over the $290 support in the coming trading sessions.
Bollinger Bands notifies incoming volatility as they extend their divergences on the trading charts. However, the Parabolic SAR shows an emerging increasing trend as BNB saw its price soaring over the past trading sessions.
Meanwhile, the Awesome Oscillator has its histogram showing an anticipated bullish momentum.
MATIC
Since the first weeks of June, MATIC has had lateral price changes across the trading chart. As much as the asset appreciated slightly over the last few days, its value remains 27% low in a single week. While publishing this content, the alternative coin managed to trade over its vital support area at $1.04 to trade at $1.19.
Keep in mind that the asset indicated similar price actions on 23rd May due to the market crash. With the previous trends, MATIC price might have a higher probability to consolidate.
Although at the moment, the market has a lower selling pressure than buying pressure, the RSI hovers around the neutral territory. Bollinger Bands remain parallel with a slight divergence. The coin’s price might remain stable for the coming trading sessions.
According to the Chaikin Money Flow, the MATIC market has its capital outflows exceeding inflows.
Litecoin
While writing this, LTC trades at $129.26 after a 9.03% surge. The asset indicates corrective rebound signs on the four-hour chart.
The altcoin had dropped to its lowest price since 23rd May, valuing $119. However, for now, bulls can push Litecoin’s value up to the resistance level at $132.
At the moment, LTC indicates an emerging bullish sentiment after Bears dominated for around one week. Lastly, the Bollinger Bands shows a price volatility hike.
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