In today’s cryptocurrency news, four digital assets stand out; LTC, TRX, BNB, and MKR. They are trading above the 200-day moving average and this is a good sign in the market. The fact that these four assets are above the 200-day moving average shows that the bulls are preparing to take full control of the market. The Litecoin price prediction 2019 has always been bullish. The same can be said for the Binance Coin which has been trending higher ever since it overcame the Binance Coin burn. However, no one would have guessed that Tron would be bullish in the TRX news today.
Litecoin Price Prediction 2019: Why Are Cryptocurrencies Rising?
The price of Bitcoin is not above the 200-day MA. This means that LTC, TRX, BNB, and MKR are outperforming the flagship cryptocurrency. They aren’t just outperforming the price of BTC, they are also outperforming the USD as well. When a token outperforms both USD and BTC pairs, it means that the bulls are gearing up to take over the market. Meanwhile, many other coins from the top 20 cryptocurrencies are currently not above the 200-day moving average of both BTC and USD.
Litecoin (LTC) Price Today – LTC / USD
LTC, BNB, TRX, and MKR are the most bullish but their performance is not certain yet. There is still the chance that the next LTC price analysis will place LTC in the bearish zone the same way it will place BTC and others. There is not enough data to conclude that the Binance Coin burn is truly over or that the prices will remain above the key resistance. This doesn’t mean we can’t celebrate the little victories.
EOS Price Today – EOS / USD
The price of EOS is trying to move above a key bullish trend line. However, it doesn’t have as much momentum as the four coins mentioned earlier. At the time of writing, the native token of the smart contract platform was trading at $3.61. This means that it is down by 1.09% against the USD and down by 1.24% against BTC. The 24 hour trading volume is $1,695,120,717 and the market capitalization is $3,268,085,428. It would need to rise by 8% to cross the 200-day moving average like TRX, LTC, BNB, and MKR.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin (BTC) the flagship cryptocurrency, is trading at $3,913.24. This means that it is up by 0.06% against the USD. The 24 hour trading volume is $9,271,507,886 and the total market capitalization is $68,823,591,304. While it still dominates about 50% of the market, BTC will need to rise by 4% to move above the 200-day moving average. This isn’t such a good thing but it’s not entirely bad either. Trading way below the 200-day moving average also means the market is oversold. An oversold market eventually makes way for the bulls. So, we can’t conclude that Bitcoin is going to remain bearish against the USD based on its current level.
TRON (TRX) Price Today – TRX / USD
Bitcoin Cash and Zcash are also far from their 200-day moving averages. They will need to surge by over 71% to break this level. If all the top cryptocurrencies, including Bitcoin, break this level just like LTC, TRX, BNB, and MKR, the long-anticipated bull rally will finally begin.
What do you think about the Litecoin price prediction 2019 for today? Will the price of these cryptocurrencies stay above the 200-day moving average? Share your thoughts in the comment section.