Litecoin price broke the upper resistance levels close to $230 and surge high with a huge influx of volume in the early trading hours. The price is currently trending on the yearly highs and expected to continue with a bullish trend until it hits its ATH at $3575.29.
Interestingly, LTC price has been following a trend and if it continues to do so, the price may hit $500 or more in the coming days. According to a crypto analysis platform Rekt Capital, the Altcoins like Litecoin and Monero will rally hard.
According to the analysts, as the large caps like Bitcoin, Ethereum rally, more money is expected to flow into other altcoins later. The analysts believe that the LTC price is following the trend line set by Ethereum. And hence as ETH price has broken the milestone of $1900, LTC price following the large-cap has broken the present levels.
LTC price $300 may be on the cards
Litecoin price is expected to fly high to the above resistance levels only if the daily close continues to be above $230. Currently, it is more vital that the $220 support levels are required to be held strong to hit the levels close to $300.
At present, the buying pressure is mounting with the LTC price instead of the selling pressure and hence a positive breakout is imminent. The RSI levels also point out a bullish trend as they have reversed the downtrend and heading back to the overbought position within a small time frame.
At the time of writing, the bitcoin price is $233.55 with a jump of 12.47 percent in the last 24 hours. The litecoin price rally is expected to accelerate this month and may also hit $400 as per an analyst, yTedd.
The resistance levels are formed at $245 to $250
The support levels are formed initially at $210 and later at $200
The Ethereum price that is known to maintain a stable price movement, finally broke the previous ATH to form a new one. It took more than a months time to regain its lost position above $2000, yet sustained successfully.
The price took more time than expected to break the $2000 barrier, yet $3000 may be approaching at rocket speed. As predicted by founder of Gokhstein Media, David Gokhstein, the next stop for the ETH price is around $3,900.
With the continued bullish trend and intensified rally, the price is expected to surge to the highest levels. According to an analyst and Crypto Youtuber, Young and Investing, the Ethereum price may hit $10,000 within the current bull run.
With the accelerated bull run, many analysts believe Ethereum could lead the market instead of Bitcoin too. Therefore providing a huge opportunity for the altcoins to boom within the ETH bull rally.
Is Altcoin-Season On the Cards?
Many altcoins normally pop-up with the surge in the price of the second dominant crypto Ethereum. Currently, ETH price is trading around its new all time high around $2152 and expected to fly high. Therefore, many small cap altcoins are expected to rise from ashes and pump more than 50x or even 100x also.
Many analysts believe the Altcoin Season of 2021 is on the way and is expected to be the greatest season ever. According to a popular analyst, XRPcryptowolf, the season will reach its peak during the summer.
Moreover, the coins which are believed to be dead or not performing are also expected to rise. One of the analysts, MC also has given a brief idea on which all coins might pump in the current AltSeason.
Collectively, the breakout of Ethereum price has led to initialization of the most awaited AltSeason of 2021. The ETH price rally is expected to intensify in the coming days, that might smash $10,000 soon.
He says that Cardano’s biggest use case right now is staking. The current price of Cardano is based on speculation rather than real demand for the token based on usefulness and need among developers and users.
Right now, the basic economics that will drive future demand are simply not there. Also there’s nothing wrong or unusual about this. This is a fairly normal occurrence. We see that a lot with various assets, where the price of an asset can rise far higher than its value should be based on where it is now simply because of strong support from the market and it’s future predictions.
Even if cardano’s price is overvalued right now does not really mean that it will plunge or go down in the near future. Davis says that in such situations the opposite is likely to happen. The higher the market cap, the more serious an investment it is in the eyes of many investors, which makes the market cap go even higher and become even more serious.
According to Lark Davis this statement is not technically true as he feels that few things are built on cardano but it lacks an ecosystem. He also states that it’s an incredibly dishonest critique of Cardano in his opinion because it is hard to have an ecosystem when there’s no smart contract functionality.
“Smart contracts are coming. The testnet is due in late April. Smart contracts are then scheduled to come on the mainnet around August… I think we’ll have at least a few dozen applications by Q1 of next year.“
Cardano Is Too Slow in Its Development
Davis says it’s fair to hope Cardano’s speed of development to pick up pace, especially considering the moderately fast rise of other projects with robust and successful ecosystems such as Elrond (EGLD) and Avalanche (AVAX).
Luckily cardano has a growing community and enthusiastic users who are willing to support the smart contracts from the day one of it’s launch. With such an optimistic community if cardano promises to deliver an ecosystem that mints people money, then it’s obvious for users and developers to eventually join this massive ADA community.
“I personally think that Cardano will prove the haters wrong this year, and that they will deliver a powerful and interesting blockchain that will become a big part of the cryptocurrency ecosystem…“
Chiliz price has skyrocketed last month by 650% in value, making it a very important month for the cryptocurrency. In the last week, however, a pattern reversal occurred, with CHZ being overwhelmingly denominated by sellers. Things are shifting, though, as CHZ price rises once more.
Chiliz is a cryptocurrency that can be used on sports and entertainment sites. Chiliz can be used like any other digital currency, but it is most commonly used on Socios.com, a website where investors and fans can use CHZ to receive exclusive rewards from their favourite teams. Special behind-the-scenes access and voting rights are among the perks.
It is worth noting that CHZ has established partnerships with top football clubs spread across the world, including FC Barcelona, AC Milan, and Juventus.
Guy says that,
“Have you been searching for that killer app that has the potential to open the floodgates and bring hundreds and millions of people into crypto? That elusive unicorn would likely be valued at a pretty penny, which means if you got into it at the right time, you could post some truly insane gains. What if that project combined NFTs, sports, and crypto? That’s the type of rocket fuel that could send it to the stratosphere… That would be Chiliz.”
I really like Chiliz as a project, the concept, and how they’re seemingly paving the way for unique digital sports memorabilia with NFTs in real-time. I also really love the idea of attaching tangible team-related perks to NFTs. That way, they have tangible real-world value and this should drive future demand.”
As of the time of publication, Chiliz price was $0.511948, with a 24-hour trading volume of $930,154,829. CHZ price also went up 1.5% over the last 24 hours. Besides, it has a circulating supply of 5.3 billion CHZ coins and a max supply of 8.89 billion.
The cryptocurrency markets are in full boom with the announcement of new projects every other day. Today we will analyse the prices of some of the Altcoins, DOGE, SC, and EOS. The year 2021 has proved to be the biggest of the Alt Seasons so far with almost every currency hitting their ATH.
It is a known factor that the majority of the altcoin prices follow the lead of Bitcoin in the Crypto markets. Bitcoin is pivoting around the ATH levels, which is helping a lot of coins to be bullish.
Also, Just because the markets are bullish, we cannot blindly take it for granted. Hence we present to you the market analysis of the Altcoins as follows.
Technical Price Analysis of Dogecoin – DOGE
Dogecoin has resorted to consolidation after a surge on April 1, 2021. The reason for this surge was a Tweet made by the Billionaire entrepreneur Elon Musk. The DOGE hit $0.066 on 1st April, later plunged to $0.05918 due to selling pressure.
The current Market capitalization of Dogecoin is $7,637,398,078, making it the #18 crypto on CoinMarketCap. Transaction volumes increased to a whopping $4.62 Billion with a 171.19% change in just 24 hours. The total circulating supply of DOGE is 129,017,654,677 DOGE as of now.
The Doge is forming a Flat-bottom descending triangle with support at $0.058, with next support at $0.054. The Resistances are $0.060, $0.062, $0.068. There is a possibility to break out and follow the uptrend if the buyers take charge of the market.
The RSI is at 48 indicating that price action could drive the trend.
MACD is turning slightly bullish, with sufficient overhead for an uptrend. The price is following the Bollinger band contraction.
As observed earlier, the token tends to lose its uptrend if there is no sufficient news to pump the prices. A coin created as a parody has become one of the top 20 cryptos.
Support: $0.058, $0.054
Resistance: 0.060, $0.062, $0.068
MACD: Neutral to Bullish
Technical Price Analysis of Siacoin – SC
Siacoin(SC) has reached $0.03252 with a 20% jump. The Market capitalization of SC reached $1,536,675,251 with this rise. The volumes of exchange also increased by 100%, worth up to $476,088,920 in the last 24 hours.
Siacoin has been steadily gaining momentum and formed an ascending parallel pattern indicating an uptrend on the 30 minute Candle chart Pattern. The price can expect support at $0.03, $0.028, $0.0264.
The resistance level is $0.032. The RSI at 61, near the bought zone. However, there is sufficient overhead. MACD and Bollinger bands indicate the bulls taking control of the market. The Experts suggest that the parallel ascending pattern may continue or there could be corrections and consolidation before any uptrend for Siacoin.
Support : $0.03, $0.028, $0.0264
Resistance : $0.032
RSI : 61
MACD : Bullish
Technical Price Analysis of EOS
EOS has been ranked as the 24th currency in terms of Market capitalization according to CoinMarketCap. It boasts a $5,347,804,387 cap with 952,189,014 EOS in circulating supply. The current Market capitalization is estimated by considering the LTP of $5.62.
The 30 minutes candle chart shows a Cup and handles pattern taking shape. Although the cryptomarkets have been bullish this year, this is one of the currencies which could not reach ATH prices. But the rise has been phenomenal with a 16.86% it is performing well above its ICO price.
The possible supports are at $5.5, $5.2, $4.8, which can hold the prices if there is a trend reversal and prices drop. The Resistance is offered at $5.7, $5.8, $6.0. The RSI stands at 55, which is a neutral level. MACD is neutral to bullish. The Bollinger bands are converging indicating a major move after consolidation.