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Cryptocurrency prices fell to their lowest levels in months.
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The crash followed the collapse of Silvergate Capital.
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The parent company of Silicon Valley Bank is on the verge of collapse.
Crypto prices declined this week as concerns about the technology and risk-on assets continued. Bitcoin has dropped below $20,000, while Ethereum, BNB Coin, and Cardano are all down more than 10% in a matter of days. it happened after the fall of the fall Silvergate Capital and the near-death experience of Silicon Valley Bank (SVB). In this article, we will make predictions for Litecoin, Bitcoin Cash and Tron.
Litecoin Price Prediction
Litecoin The price has come down in the last few weeks. It has fallen in the last five days and is now hovering at the lowest level since January 1 this year. The decline occurred after the coin formed a head and shoulders pattern, which is usually a bearish signal.
It managed to move below the neckline of this pattern at $90.12. The coin has moved below all the moving averages and the key support at $73.31. Litecoin has also turned extremely oversold, with the Relative Strength Index (RSI) and Stochastic Oscillator sinking. Hence, the coin is likely to drop during the weekend.
The decline will depend on the nature of US job numbers and the performance of SVB, the parent company of Silicon Valley Bank. All indications are that the bank’s shares will continue to slide on Friday. Therefore, we cannot rule out a situation where Litecoin price drops to around $60.
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bitcoin cash price prediction
bitcoin cash The price was not far behind in the ongoing crypto sell-off. It has declined for the last five straight days and is now trading at its lowest level since January 11. Overall, BCH price is down more than 30% from this year’s high.
As it declined, it dropped below key support levels at $120.12, the lowest point on February 13. Therefore, like LTC, the coin will continue to decline as sellers target the psychological level of $100. The stop-loss of this trade would be at $120.
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tron price prediction
tron The price also continued to decline as it hit its lowest level since January 12 this year. This decline has come after the formation of a wedge pattern of increasing width of the coin which is shown in black. As it crashed, TRX price declined below the key support at $0.065, which was the highest level in November.
Tron moved below all moving averages, while oscillators also crashed over the past few days. Therefore, the price outlook for Tron remains bearish, with the next major support lying at $0.0050. However, we cannot rule out a situation where a dead cat pops up in the coming days.
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