The cryptographic market has been living an intense week, with great interesting movements in the weekly workday, as many altcoins managed to beat their resistances in the short term as predicted by many professional traders.
Example coin that exhibits of these movements is Binance Coin (BNB) which has taken off in the shortest time expected. Another interesting case are XRP and Tron (TRX), which although have not taken off like Binance Coin, have allowed to refresh a medium term analysis that allows trading cautiously, but sure of a return on investment in the worst case.
Binance Coin managed to surpass countless of hurdles including resistance, which made it attain the seventh rank by market cap, thanks to the great demand today for the tests of its decentralized platform (Binance DEX) which the token was used for the operation. Tron (TRX) and Ripple’s XRP keep retaining their position in general ranking, with no major variations according to our latest report.
TRON (TRX) Price Prediction: A Leapfrog Above $ 0.02336
Tron (TRX) at the time of writing presents the largest contraction within the top ten of the cryptocurrencies, with a spot price of $ 0.023 per unit and a reduction in the last 24 hours of -1.00%. Its market capitalization continues at $ 1.5 trillion dollars to stay anchored on the tenth position of the most important cryptocurrencies in the market.
In the short term, the cryptocurrency has already beaten its immediate resistance predicted in our previous post. However, we can see the new resistance in the next 12 hours, going from the current price of $ 0.0235 to $ 0.02374. Once this point is achieved, Tron (TRX) next level to beat would be at the value of $ 0.0243.
Despite its contraction in prices, the RSI indicator shows us an average zone, evidence of the fight of bears and bulls to take control of the Tron (TRX) market. It has not yet reached the area of oversold or overbought, so the forces are balanced.
In the medium term, the cryptocurrency continues above its new support area of $ 0.0225 (red line) and a crossing at the end of the month is projected at the value of $ 0.02336 (orange line).
In the long term, according to the Elliot Wave pattern, a profit of up to 5.94% is projected to reach the value in point (5) of the graph.
Ripple (XRP) Price Prediction: XRP Targets $ 0.323- $ 0.325 Price
The third token by market capitalization remains strength in a lateral movement of prices, with a slight contraction of less than half a percentage point (-0.38%), with a spot price of $ 0.315 at the time of listing.
XRP remains at the third position owing to its market cap of $ 13 billion dollars. What also contributed to its progress is the volume the digital token got from ZBG exchange with accounted for about 9.96% of the total volume of the XRP/USD pair of the cryptocurrency.
In the short term, the XRP token presents a possibility of crossing from the current price to $ 0.3214 (+ 0.36%) which will allow you to recover from the contraction the cryptocurrency witnessed this week; for the period of about one week.
Its level of support is at $ 0.3158 and its maximum expectation for the next few days is in the price range of $ 0.323- $ 0.325. This projection is ratified by the Aroon indicator, which graphs its Aroon Uptrend (green line) upwards, after a crossing and its counterpart Aroon Downtrend (red line).
In the medium-long term, the token presents a descending scenario, with a contraction of up to 5% to reach the point of $ 0.3066 for the next 30 days. However, this does not mean that bears take control of the market completely, because there are alternatives rebound to reach 4.96% after its contraction.
In short, the token allows the possibility of good entry time to achieve a long-term profit of up to five percentage points.
The Awesome Oscillator indicator reaffirms the projected position for the token, with a smooth but firm movement in a positive direction and mixed graphics that indicate the projected variations.
Binance Coin (BNB) Price Prediction: BNB To Catapult To Top 5
It is the cryptocurrency with the highest profit within the top ten group of the general ranking. At the time of publishing, the native token of the largest exchange by commercialization volume, Binance, occupies the seventh position, thanks to its $ 2.159 billion bucks capitalization.
According to CoinMarketCap, BNB has a spot price of $ 15.30 and an advance of up to + 6.59% in the last 24 hours.
For the short term, the cryptocurrency presents its next immediate resistance at $ 16.5 after beating its previous ones, as expected. Its support zone remains around $ 5.39 value, according to the Flat Top / Bottom projected.
In the medium-long term, the outlook is even more encouraging. Binance Coin (BNB) is close to beating its year’s high at levels of $ 18 (R1) to $ 25 (R2) per token. However, we must be cautious, since these levels may be overvalued, and at any time a possible correction could send the cryptocurrency to levels of ten per token.
Support levels and possible correction are found at (S1) $ 11.59 and (S2) $ 9.26. Only time can tell if the bullish rally will continue in a sustained manner and precipitate the level of immediate resistance for Binance Coin (BNB) to catapult to the top 5 of the ecosystem cryptocurrencies.