Litecoin price is currently forming a short-term bullish flag pattern which is supported at the 38.2% Fib retracement level with the last swing high of $127.5 and a low of $110.5. LTC/USD has been unable to break past the resistance at $124 since the slide that happened on Monday this week.
Litecoin price has a couple of breakout positions on the chart; $124 to the upside and $118 on the downside. The retracement towards the upside breakout will encounter resistance at the 23.6% Fibo. However, approaching $124 could pave the way for LTC to test the key resistance at $128 and finally attack $130.
The indicators on the 1-hour timeframe chart are sending bear signals. For instance that 50 SMA is moving to cross below the longer term 100 SMA while the RSI is pointing downwards towards the 40 mark. LTC/USD will find a weak support at $120, the zone at $118 – $116 will offer a stronger support. The bullish trendline will also play an important role in stopping declines towards the demand zone at $115.IOTA (MIOTA) Price Analysis
IOTA has today confirmed that Bitpanda exchange will be listing MIOTA to its list of tradable instruments. The listing is expected to take effect on June 14. IOTA price has been lagging the reaction to the launch of IOTA Lab. The project will be managed by AKITA and is intended to transform the ecosystem. In addition to that, the network recently updated the community on its most anticipated project, Qubic. The project is being designed to widen the scope of IOTA platform by allowing endless use cases. The network said that from now henceforth the community will receive regular updates on the project.
IOTA price is locked within the contracting triangle and this could also mean that it is approaching a breakout to the upside. The bearish trendline has limited the intraday highs on Thursday. Besides, it coincides with the 50% Fib retracement level with the previous high leg of $1.99 and a low of $1.52 close to $1.75.
IOTA is also trading in a ranging channel and appears to be consolidating above $1.70. It is immediately supported by the 61.8% Fibonacci level, although the bullish trendline will provide more support above $1.60. The support from the retracement level above could hold to the close of the session on Thursday but the RSI shows that sellers are fighting for further lower corrections.Binance Coin (BNB) Price Analysis
Binance Coin price is correcting higher using the support from the bullish trend line as observed on the 15 minutes chart. BNB/USD opened the trading session on Thursday at $17.27 before walloping in brief selling pressure that had it exchange hands slightly below $16.5. At the time of writing the price has been capped below $17.00.
On the upside, $17.50 is a key hurdle and a break above it could allow Binance Coin price to test other higher levels at $20.00 and beyond. There is a bullish trend forming, although weak, it could test the immediate resistance at $17.00 before the close of the day’s session. On the other, hand immediate support is at $16.5, but $15.00 to $14.5 is a much stronger support area.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.