Binance Coin, Dogecoin, Litecoin, Waves Price Analysis: 16 April
The crypto market has been sideways in the past few days after an intense wave of selling. Binance Coin and Litecoin have also been moving sideways after a bounce in the past few days, however, the market structure still had a bearish outlook. Dogecoin has formed an ascending channel, while Waves also has a bearish market structure in the near term.
Source: BNB/USDT on TradingView
For Binance Coin, the $418.2 resistance level is a strong level of resistance for the past week. After dipping as far south as $395, BNB saw a bounce to $425. The price has been on a downtrend, or a pullback, from the $460 level. However, BNB has been on an uptrend since late February which meant this move downward could be just a pullback.
The RSI has been hovering around neutral 50 in the past few days and stood at 41 at press time. The OBV has also been in a downtrend but has gone flat in the past couple of days.
Source: DOGE/USDT on TradingView
Dogecoin has traded within an ascending channel (white) and, at the time of writing it slipped beneath the mid-range. This development, combined with the rejection at the $0.148 level, meant DOGE could dip to the channel lows.
The channel lows could see DOGE bounce higher and possibly climb above the $0.148 level. The RSI stayed above neutral 50, but only barely. The Awesome Oscillator also showed bullish momentum, but not very strong momentum.
Source: LTC/USDT on TradingView
The Volume Profile Visible Range showed the Point of Control to be at $125. Other high volume nodes for the visible range lie at $$111, $114, and $127. At press time, LTC was trading at the Value Area Lows. If $112.7 can be flipped to support, a bullish move could materialize.
The MACD was flat in the past few days, although it has been
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