Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.

Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.

1-Day BTC

Source: TradingView

The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.

Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.

Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.

Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.

1-Day LTC

Source: TradingView

The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.

Bollinger Bands exhibited a high rate of volatility in the market.

The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.

Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.

Conclusion

Bitcoin and Litecoin seemed to be in a bullish market as forecast by the indicators.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils appeared first on AMBCrypto.

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