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5 cryptocurrencies Likely to Outperform in Short-Run: BTC, BNB, ADA, LTC, LINK

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A bullish pattern is known to suggest an upside trend, and for the past week, Binance coin, Litecoin, Cardano, and chainlink made these early pattern trends. Meanwhile, more investors bought Dogecoin (DOGE) ahead of Elon Musk’s SNL appearance, all speculating for a price pump. But that did not turn out as expected. Elon musk did not trigger the rally traders eagerly waited.
That translated to DOGE prices deepening to as low as $0.41 and a loss of over 34%. Since the drop, the joke coin is still trying to stage a recovery slightly to $0.54. The sudden dip in Dogecoin price indicates that buying the hype without a specific fundamental reason can lead you to stomach-churning volatility.
However, things are much different for Ether (ETH) that is extending much higher moves. It is now too close to $4,000 while Bitcoin has not yet made it to $60,000. Bitcoin (BTC) has severally indicated strong selling on each of its minor rallies. Ether remains at the lead of altcoin charge, but here are the top five Cryptocurrencies likely to outperform in the short term.


Binance Coin (BNB)


The strong uptrend and moving averages in the Binance coin indicate a new trail of least resistance towards its uptrend move. Despite some minor warning signs from negative divergence on RSI, there is only one instance where BNB will show its weakness and it is after prices drop.


BNB/USDT daily chart

If the bulls push, they might trigger a price rise above $680, which will see the BNB/USDT pair starting its next leg of an uptrend with the possibility of reaching $808.57. The uptrend will then validate whether the pair turns down or breaks below EMA($592) within 20 days.
When pairs turn down or break, the short-term traders may decide on dumping their position. That will trigger a decline of SMA ($466) in a period of 50days.

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Bitcoin (BTC)


On May 8, BTC broke above the downtrend line, as it appears in the chart below. However, the bulls are still struggling in clearing the hurdle stuck at $58,966. In case the prices fail to rebound in a 20-day exponential moving AVG($56,387), then the bulls will try one more chance of pushing the price above $58,966


BTC/USDT daily chart

The BTC/USDT pair will start its next leg towards the resistance line of an ascending channel at $67,000 when the bulls succeed. There are now two occasions observed when the prices turned down against the resistance line. But the bears are keen enough by trying to defend that level again.
BTC momentum will therefore pick up right after traders buy, pushing the prices high above the channel. However, a flattish movement on averages and RSI next to the midpoint makes a warning and lacks bullish momentum. Prices may also fall below $52,323 in case of bears pull the price below 20-day EMA.
Contrary, a break below $52,323 may be favorable for a fall to the support line of the ascending channel. At $46,985, buyers may stop the decline if they make their way in and begin buying.

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Cardano (ADA/USDT)


Cardano (ADA) remains between the $1 to $1.5 range for several weeks now. But that came to a close on May 6 when it surpassed the range. That means the existing bears and bulls equilibrium resolved in favor of buyers.


ADA/USDT daily chart

However, that did not mean the bears had given up. There were attempts to push down the price back to $1.5 on May 7. But a long-tailed that appeared on the day’s candlestick suggested otherwise. The bulls had successfully filled $1.48 in their favor.
ADA/USDT can still sustain the rally to $2 and above if buyers keep buying. The bulls, on the other hand, have to ensure that the prices do not slip below 20-day EMA ($1.5)


LTC/USDT


In recent observations, Litecoin (LTC) is on the rise following a broadening wedge pattern. Despite the bears’ aggressive defense to the resistance line of the wedge in the past few days, there are positive signals that the bulls are still up for the game.


LTC/USDT daily chart

LTC can only start its next rally that has the ability to reaching $400 and above, in situations where the bulls push and maintain the price high above $372.53. A rising trend in averages and RSI in the bought phase signals a new low resistance path toward an uptrend.
Contrary to assumptions, when the bulls fail to maintain prices above $372.53, short-term traders are expected to dump their positions. That translates to a drop in price to the 20-day EMA. However, a break below that support can open the gate for a decline to 50-day SMA.


LINK/USDT


On May 7, chainlink (LINK) made its way up to a new all-time high at $51.96. During the recent uptrend, corrections were too shallow, and prices appeared to consolidate in a stiff range before bouncing back to the uptrend.


LINK/USDT daily chart

A long wick candlestick that appeared on May 7 triggered high selling levels, followed by an inside-day candlestick pattern on the following day. It translated to the indecision that lasted among the bulls and bears. But uptrending RSI and Averages in the overbought phase suggested that the bulls had a significant share.
If the bulls maintain the prices high above $51.96, an upsloping move will rebound favoring the LINK/USDT pair. Contrary, if the prices break down from $51.96 and break the $46 support, the trend may drop in favor of 20-day EMA. But a strong rebound on the support will suggest that the sentiment is still positive.
A fall below a 20-day EMA translates to very short-term momentum that weakened and dropped to the 50-day SMA that is most likely to happen.


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