Date: Sun, Oct 20, 2024, 10:01 AM GMT
The cryptocurrency market is riding a wave of optimism as Bitcoin (BTC) trades above $68,000, inching closer to the $70K mark. Following BTC's rally, several altcoins have started to make impressive moves. This week, two standout altcoinsâLitecoin (LTC) and Binance Coin (BNB)âare showing significant potential for further gains. Hereâs what to expect:
1) Litecoin (LTC)
Often known as the "silver to Bitcoin's gold," Litecoin is regaining momentum, with a 13% surge in the past seven days. The recent boost comes after Canary Capital's groundbreaking move on October 15, filing the first-ever Form S-1 for a Litecoin ETF with the U.S. Securities and Exchange Commission (SEC). This filing has generated excitement, positioning $LTC as one of the top-performing coins this week.
Current Price: $74.57
Resistance Zone: $73.06 â $76.66
If LTC can break above the $76.66 resistance, it could target the next major resistance level of $88.34âabout 20% higher than the current price. With Bitcoinâs bullish trend and the ETF buzz, LTC is well-positioned to climb further.
2) Binance Coin (BNB)
BNB has also shown steady growth, rising 4% in the last seven days. The recent release of Changpeng Zhao (CZ), Binanceâs former CEO, has brought renewed optimism to the Binance ecosystem, boosting market sentiment around $BNB .
Current Price: $597
Resistance Zone: $596â $619
BNB has been stuck at this $610 level resistance for the past four months, facing multiple rejections at this level. However, with Q4 looking bullish across the broader crypto market, a breakout could finally be on the horizon. If BNB clears this resistance, it could surge towards its all-time high of $723, representing an 18% increase from its current price.
Conclusion
Both LTC and BNB are at critical levels this week, offering attractive opportunities for gains if they break through their respective resistances. With market sentiment shifting towards a bullish Q4, these two altcoins could be ones to watch closely. However, as with any investment, it's essential to proceed with caution.
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Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies