Bitcoin, the world’s largest cryptocurrency, recently crossed its strong resistance at $4,200. However, the coin corrected itself and went back under $4,200. Litecoin [LTC], the fifth largest cryptocurrency, was pumping too, but it seems like the bulls have left the market.

Bitcoin [BTC]

At press time, BTC was valued at $4,126.48, with a market cap of $72.71 billion. The 24-hour trading volume of the largest cryptocurrency was noted to be $9.60 billion, while its price observed a minimal growth of 0.65%. BTC, over the past seven days, marked a 2.46% rise in its price, but dipped by 0.07% within an hour.

Source: Trading View

The long-term chart for BTC pictured a massive downtrend from $7,359.99 to $4,101.50. No significant uptrend was traced on the long-term chart. BTC marked resistance at $5,560 and support at $3,183.01.

Bollinger Bands suggested reduced volatility in the BTC market.

Awesome Oscillator indicated strong bullish momentum for the coin.

Chaikin Money Flow also noted a bullish rise as the marker pumped above the zero-line.

Litecoin [LTC]

At press time, LTC was valued at $60.70, with a market cap of $3.71 billion. It marked a 24-hour trading volume of $1.59 billion, while noting a 0.56% rise in price over the past day. Over the past week, LTC’s price rose by 0.66%, but dipped by 0.18% within an hour.

Source: Trading View

The one-day chart for LTC marked a downtrend from $51.60 to $24.19, followed by an uptrend from $25.30 to $61.01. The cryptocurrency broke its previous resistance and marked fresh resistance at $63.10. The supports were at $45.65 and $32.48.

Parabolic SAR marked a bearish market as the dotted markers were aligned above the candlesticks.

MACD line was under the signal line, marking a bearish reign.

Relative Strength Index indicated that the buying and the selling pressures had evened each other out, but the marker was close to the overbought zone.

Conclusion 

According to the long-term chart of Bitcoin and the Bollinger Bands, Awesome Oscillator, and Chaikin Money Flow, a bullish trend was forecast for the market.

However, Litecoin’s chart and the Parabolic SAR, MACD, and Relative Strength Index predicted a bearish market as the bulls bid adieu to the coin market.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC in bullish territory while LTC grapples with the bear appeared first on AMBCrypto.

317 +