Binance Coin (BNB), Litecoin (LTC) and XRP Might Rebound Strongly
Last week, the cryptocurrency market was very volatile due to the latest inflation report. This has led to prices for many Altcoins such as BNB, Litecoin and XRP, corrected downwards, hovering around the inclination. Nevertheless, big investors see it as an opportunity to buy more opportunities, which could lead to the price recovery of these altcoins this week.
Although the overall market is in correction mode, the latest events around ETFs have made people more interested in the potential rebound of Altcoins.
Read more: Why does Bitcoin analyst and influencer Planb convert its Bitcoin to ETF?
XRP became particularly noteworthy this week after the Securities and Exchange Commission (SEC) endorsed Grayscale’s ETF filing and XRP’s 21 shares. Furthermore, there is growing excitement about potential ETFs from Sol and Doge after the SEC’s positive response to crypto-backed ETF applications.
This gives investors several reasons to witness the rebound in leading Altcoin prices this week.
Binance Coin (BNB) Price Analysis
Binance Coin (BNB) has recently declined after its buying momentum failed to maintain its $700-plus momentum. The seller’s target is $650 now. Currently, the price of BNB is $656, down 0.2% in the past 24 hours.
The BNB/USDT pair’s gaze rose to $689, but it could face strong resistance that could reduce its price to $648. Since the relative strength index (RSI) is at 48, BNB may face a rebound.
However, if the price of BNB may exceed $689, it may climb to $725. Conversely, if the price is below $648, the price may drop further to $623.
Litecoin (LTC) price analysis
Litecoin is trying a strong recovery as it soars towards a high price of $137. Although the bears are defending resistance levels, LTC prices may continue to be charged in advance. As of this writing, the LTC price is trading at $133, up 3% in the past 24 hours and 25% in the past 7 days.
If Litecoin’s price drops below the 20-day EMA, sellers may push the point-of-sale of the LTC/USDT pair to a critical support level of $114. While buyers will try to maintain this level, the price may drop further to $100 if the seller dominates.
On the other hand, if Litecoin breaks and closes the resistance zone and soars to $150, it may indicate that bearish pressure has ended. Then, the price may climb to the highly anticipated $200 milestone.
XRP Price Analysis
XRP’s recent trade activity has been between $2.27 and $2.55, and has gone bankrupt and has now merged below $2.8.
Buyers are now working to improve their advantage by keeping the price at a $2.8 merger. If they succeed, the XRP/USDT pair may reach the next resistance level at $3.4.
Please read also: XRP price forecast for February 16
However, if the price is sharp and cannot maintain the current momentum, it will indicate that the seller is still influential at a higher price. This could lead to XRP retesting buyer patience at $2.50
