Last week the cryptocurrency market was quite unstable because of the latest inflation reports. This ensured that the prices of many altcoins such as BNB, Litecoin and XRP correct down, floated around dips. Nevertheless, great investors saw it as an opportunity to buy more, which could lead to a considerable price recovery for these Altcoins this week.
Although the general market is in a correction mode, recent events around ETF’s people have made more interested in a possible rebound in Altcoins.
Read more: Why Bitcoin Analyst and influencer planb convert his bitcoin into ETFs?
This week, XRP became particularly remarkable after the US Securities and Exchange Commission (SEC) ETF inventions of Grayscale and 21Shares for XRP recognized. Moreover, there is growing excitement about potential ETFs for SOL and Doge, according to the positive response of the ETF archives supported by cryptocurrency.
This has left investors various reasons to witness a rebound in leading Altcoin prices this week.
Binance Coin (BNB) Price analysis
Binance Coin (BNB) recently saw a decrease in buying interest after it could not maintain his momentum above $ 700. Sellers are now focusing on a retest of $ 650. Currently BNB costs $ 656, which has a decrease of 0.2% in the last 24 hours.
The BNB/USDT trade savings looks at an increase of $ 689, but it can experience a strong resistance that could push its price to $ 648. With the relative strength index (RSI) on 48, just below neutral, BNB would be confronted With a rebound.
However, if the BNB price can break above $ 689, it can climb to $ 725. Conversely, if it drops below $ 648, the price could continue to fall to $ 623.
Litecoin (LTC) Price analysis
Litecoin tries a strong recovery if it goes to the height of $ 137. Although Bears defend resistance levels, the LTC price can remain ahead. From writing, LTC price acts at $ 133, more than 3% rises in the last 24 hours and 25% in the last seven days.
If Litecoin price falls below the 20-day EMA, sellers will probably push the LTC/USDT purple to the most important level of support at $ 114. While buyers try to retain this level, if sellers dominate, the price can fall further to $ 100.
On the other hand, when Litecoin breaks and closes above the resistance zone and shoots beyond $ 150, this can indicate that the Beararish pressure has ended. The price could then rise to the long -awaited milestone of $ 200.
XRP -Price analysis
The recent trading activity of XRP, which was stuck between $ 2.27 and $ 2.55, broke up and now consolidates under $ 2.8.
The buyers now work to increase their advantage by keeping the price above $ 2.8 consolidation. If they succeed, the XRP/USDT pair can reach the next resistance level at $ 3.4.
Also read: XRP -Price forecast before February 16
However, if the price does not have the present momentum, this will indicate that sellers still have influence on higher prices. This can lead to XRP the patience of the buyers retest to $ 2.5
