The first weekend of Q2 2019 has started strongly and it is moving on with that force. Bitcoin has fulfilled all predictions of reaching the coveted cap of $ 5800, and this suggests that the forecast of $ 6000 is just around the corner as many have predicted.
As a result, the rest of the market has moved with a good level, intoxicated by the good optimism of the ecosystem and part of it can be seen in three key cryptos. Here’s an in depth on what is predicted in the coming days.
At the time of writing, the market has grown from $ 177 billion at a phenomenal jump of $ 185 billion, up + 4.5% in the last 24 hours, with BTC at 55.1%, growing up to 11.4% w / w.
Cardano (ADA) Price Prediction.
Cardano (ADA) is the tenth cryptocurrency in the market with a trading price of $ 0.0696 per token, + 1.33% in the last 24 hours and a market capitalization of $ 1.8 billion.
In the short term, ADA has an ascending pattern generating the second wave of Elliot that is expected to complete over the course of the weekend and then rally up to the level of R1 ($ 0.0759).
The estimated breaking point of the short and maximum cut in the short term is $ 0.0738 (+ 6%).
ADA still remains above the 50-day moving average, which is a good indication that the next support will be higher for the altcoin, which is currently at S1 ($ 0.67).
The Aroon indicator projects a similar pattern to Elliot Waves, with both indicators (bullish and bearish) heading to the bottom. As expected to achieve point D of the current wave, and then follow its bullish course to R1.
In the medium-long term, the horizon does not look different for Cardano. An upward trend in general can be seen from February 2019 when the cryptocurrency began to take off until reaching the level of R1 close to ten cents per the altcoin.
After making a spin-ball, ADA projects that the medium-term correction is coming to an end and that the bullish market momentum could push prices to levels even above R1 (‘Y’ point) by mid Q2 2019 This would imply a double-digit profit of up to 25% for the altcoin, based on its current price.
This pattern is confirmed by RSI, which presents high average levels of the last two bullish patterns similar to the current scenario.
The worst case scenario for Cardano (ADA) Price is that it returns to levels of S1 ($ 0.053) 50% lower than the level of R1 achieved at the beginning of April when it started the current bull run.
Litecoin (LTC) Price Prediction.
Charlie Lee’s silver cryptocurrency was one of the first to announce the current bullish rally along with TRON, when it generated the first alarms showing the important price hikes that according to many analysts, was the beginning of the current scenario generated by the big ‘whales’ who are looking for financial muscle to enter the BTC market with force.
At the time of writing, LTC has grown astonishingly + 8%, trading at the current price of $79.26 and its stock market capitalization market is approaching $5 billion.
In the short term, LTC shows us an interesting scenario. A strong upward channel has generated and its moving average remains above the Bollinger upper band very close to the immediate resistance level of R1 ($ 85.04).
Its price has been generated by the BTC impulse, jumping from $70 to almost $80 dollars, generating a large opening of the Bollinger cloud that has started to converge slightly, closing the volatility of LTC with new higher lows.
CMF, the indicator of the flow of money to the ecosystem, tells us that many investors still remain in the LTC scene, which evidently are betting on higher altcoin prices.
Litecoin (LTC) price, for medium-long term, LTC, the picture is not different from the previous one. It is fully bullish and its long position provides profit of up to 15% in the medium term for the cryptocurrency.
Taking into account that Litecoin price has made a spin-ball and in some way has managed to reverse the initial trend, we could be positive with its medium-term forecast, but also cautious, since any abrupt change towards the BTC low could trigger retracements for LTC.
Therefore, let’s operate with STOP LOSS in levels of S1, which is a good support value that remains for now for a long time.
Despite how cautious we should be, Stochastic reminds us that since February LTC has grown at almost x2.5 its price and that the projected slope is still positive for the altcoin. That is, the upward trend is not expected to end at least in the medium term.
Tron (TRX) Price Prediction.
The cryptocurrency of Justin Sun recently experienced a small setback due to the negative announcement of suspending their promised end-of-month rewards for Tether, due to the facts we all know about this stablecoin and Bitfinex.
However, the altcoin of Sun has not stopped generating new use cases through important alliances, which is reflecting in its price. At the time of writing, TRON (TRX) is listed on high, with a spot price of $ 0.0241 (+ 1.60%) that allowed it to keep box 11 of the general crypto ranking.
Tron’s case is particular. The cryptocurrency thanks to the bullish momentum of the market has benefited and avoided falling in price for the suspended Tether incentives.
Tron in the short term is just as bullish, but with less strength than the other two cases studied in this post. Its price is currently completing the second Elliot wave and then take off next week at the R1 level close to $ 0.256.
While it is not an excellent profit, it is also true that TRX does not present an investment opportunity because of its large volume that can be moved with a small amount of money. Furthermore, its price has remained above the 60-day moving average and this allows us to infer, together with the bullish behavior of the Stochastic indicator, that the third wave (DE) will be generated in the short term.
To confirm the previous scenario, we found that at the medium-long-term level, for the 1D chart, TRX moves in a similar way to what was done at the end of last year.
This can be seen in the Elliot Wave Triple Correction indicator and in the RSI indicator, where the level coincide with the price movements in these periods.
However, we must be alert with the cryptocurrency, given that a possible bearish scenario is expected to occur at the end of May, as a natural part of its price corrective scenario and then take off at levels of R1 ($ 0.030) previously reached in early April 2019
Given the proposed scenario, it will be important to closely monitor the movement of the cryptocurrency, in this crossing EMA 30 vs EMA 100, which will be essential to determine the trajectory of TRX in the medium term.