The leading cryptocurrency Bitcoin (BTC) started to draw a stable outlook in the $56,000 band after an unexpected rise. Although BTC initially had a crushing stance on altcoins, the consolidation seen now indicates that altcoins may soon take action. So which altcoins will these be?
Three Altcoins, Three Uptrend Scenarios
Litecoin (LTC), which is definitely associated with Bitcoin, is in the first place. LTC, designed by Charlie Lee as a copy of Bitcoin, stands out as a payment-only cryptocurrency. LTC, known as a copy of Bitcoin, reflects this with its price movements, and whenever BTC makes a sudden attack, LTC follows it.
Litecoin It is above the critical $170 support and it could retest the $230 level with a break of the $185 resistance. LTC’s long silence also fuels this bullish expectation.
The other cryptocurrency polkadot (DOT) stands out. Silent during Solana and Ethereum’s NFT headwind, Polkadot is now gearing up to rally again with the start of parachain sales.
For Parachain sales, bidders need to get a hefty DOT, and DOT has shown a trailer of it, gaining 10% over the past 7 days. The critical resistance for the DOT is seen at $45.
In the third place Binance Coin (BNB) is located. After Binance’s $1 billion fund supporting the BSC ecosystem, another good news was given by Binance today. The exchange has stated that it will now sell its own fan tokens on Binance Launchpad, which will create positive buying pressure for BNB. BNB price can soon break the $480 resistance and reach $600.
*Not Investment Advice.