Cryptocurrencies price prediction: Bitcoin, TRON & Litecoin - European Wrap - 11 October
|Bitcoin (BTC) in tactical retreat before another attempt to break above SMA200 daily
Bitcoin (BTC) bulls engineers a nice recovery off the recent lows; however, SMA200 (Simple Moving Average) on a daily chart remains unconquered so far. The price of the first digital currency made a weak attempt to move above this hurdle, but it seems to be a hard nut to crack for the bulls at this stage, which is proved by a forceful retreat below $8,500 during early Asian hours on Friday.
TRON price analysis: TRX/USD moves within a long-term bearish trend
At the time of writing, TRX/USD is changing hands at $0.0160. The coin has gained over 15% in seven 24 days, however, the upside momentum started fading away after the price had hit $0.0175 high. Currently, TRON takes 11th place in the global cryptocurrency market rating with the market value of $1.1 billion and an average daily trading value of $638 million.
Litecoin (LTC) price analysis: LTC/USD slides back inside an old range
Litecoin is changing hands at $56.63, down 2% since the beginning of the day and 1.5% on a day-on-day basis. The 6th largest digital asset with the current market value of $3.3 billion peaked at $60.12 on October 9 and has been moving down ever since. The coin is vulnerable to further losses considering the growing bearish sentiments on the cryptocurrency markets. Litecoin’s daily trading volume reduced to $2.4 billion from $2.7 billion on Thursday.
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