The U.S. elections are over, and markets have been fairly stable. A potential cure for COVID-19 has been announced, thanks to Pfizer and BioNTech! BTC dominance has started dropping.
All of the above is great news for altcoins. Let us review some of the altcoins and plot their price action charts to understand the targets for longs and shorts. Today, we focus on BNB, ADA, DOT, XMR, and ETH price action.
ETH/USD – Price Prediction
ETH has started consolidating at the resistance of $440, and it is safe to assume that this zone has been flipped to support. If we continue consolidating in this zone, we could see ETH price move up towards $467, $487, and $531. Failure to hold the current support will pull ETH price below towards the support of $400.
POLKADOT – Price Prediction
DOT has been toggling between the Support 1 and Resistance 1 zone at $4.20 and $4.59, respectively. If it can break Resistance 1, we could see a push towards $4.95 and $5.39. Failure to hold Support 1 could pull the price down towards $3.85, which would be a good place to add to longs.
XMR/USD – Price Prediction
XMR has been one of the top performing coins since the past few weeks. If we can see a clean break above $120, we can start targeting $141. A good place to enter longs would be at $100. Failure to hold $100 would pull the price down to $81, which would be an excellent price for adding to longs.
CARDANO – Price Prediction
ADA is currently trading above a strong support of $0.10, and a bounce towards the resistance of $0.12 wouldn’t be surprising. If we see a good momentum in BTC, we could see a jump in ADA towards $0.15 towards the Resistance 2.
Failure to hold the support at $0.10 could pull the price towards $0.074, which would be a good place to enter longs.
BNB – Price Prediction
BNB is fundamentally one of the strongest coins and undoubtedly the strongest native exchange coin. It is also highly undervalued compared to the utilities it has in the trading ecosystem with respect to staking, lending, launchpool, launchpads, lower trading fee, etc. As long as we are above the support of $27.50, we can see a move towards $32.50, $35.80, $39.00, $43.70, and $49.67. Even if it breaks below the support, it has a very high possibility of bouncing right back up. This is definitely a coin worth holding.
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