We should have an interesting weekend in the cryptocurrency market due to the rising nature of crypto price trend. Many of the forecasts given by expert analysts have been fully met, even earlier than expected. For now we are in an uptrend again, with Bitcoin overcoming the $4,000 barrier.
The main crypto asset of the market is quoted at the time of writing at $4055.34 with a growth of 3.28% in the last 24 hours. Its stock market capitalization market has also increased by almost $1.5 billion dollars to $71 billion, increasing its market dominance by 0.3 percentage points (50.6%).
In the short term, Bitcoin is indicating an upward trend, with an EMA 25 indicator crossing over EMA 100, evidently increasing purchase pressure to free up prices.
The Aroon indicator shows Aroon Uptrend in the overbought area and its counterpart anchored to the bottom for the remaining weekend. This gives us an indication that the upward trend will continue over the weekend and possibly a few more days.
Keep in mind that as the Bitcoin dominance is growing continuously, the flow of interest to Bitcoin increases and decreases in the rest of the altcoins. Otherwise, Bitcoin tends to decrease in price logically, so it is important to trade with this parameter very closely.
Litecoin (LTC) Price Prediction for Weekend
The fourth most important cryptocurrency by market capitalization has already managed to pass its resistance levels foreseen by most of the analyzes carried out in the short and even medium term.
Its price at the time of writing is $61.61 USD per unit, achieving a positive differential change of up to 8.14% in the last 24 hours.
Litecoin managed to beat all levels of immediate resistance foreseen in our previous post. Its downward trend foreseen by the descending channel of the wedge and coupling pattern originated in the 6H chart previously studied seems to take a few days longer than expected, due to the upward trend of the market generally driven by Bitcoin.
It is predicted that for this weekend, Litecoin will reach a level close to its new long-term resistance previously studied in the R1 ($ 63.18) and R2 ($ 65.72) . In the medium term, Litecoin (LTC) is now accelerating its maximum price which was foreseen for June, and this could be achieved before the end of the current month.
In the short term, we must be aware that LTC is expected to reach $65 in the next eight hours, but briefly, since a correction is close to occur when reaching that level as indicated by the Stochastic, Litecoin will slightly move out of the overbought zone of the bullish rally.
Bitcoin Cash (BCH) Price Prediction for Weekend
It presents an important takeoff in the last hours to catapult up to $157.34 USD per unit, with a growth of up to 17.26% in the last 24 hours. The sixth cryptocurrency by market capitalization took advantage of the withdrawal of Binance Coin (BNB), its closest follower, to increase its price and capital to $2781 million dollars.
For the weekend it is expected that BCH will try to beat the immediate resistance of $163.38 at best, mainly due to the influence Bitcoin may have on the market. However, this rising channel trend indicates a limit for March 16 at night when the indicators EMA 25 and EMA 100 cross to a reversal in investor sentiment.
Consequently, a fall in prices up to S1 levels ($142.49) is foreseen, so that the investors that enter can collect profits.
The Stochastic indicator also projects this change in trend when starting to make a crossing out of the overbought area, but it also indicates that this trend may not be maintained in the short time, given the low prevailing bearish momentum.