As the crypto ecosystem slowly recovers from the bear market, Bitcoin [BTC] surged past its resistances over the past month. This surge helped many players in the altcoin universe to return to their previous glory and gain investor confidence. Matching the performance of the world’s highest valued crypto, Litecoin [LTC] has consistently showed immense stability during the crypto-winter.

Bitcoin [BTC] 1-Day

Source: TradingView

Bitcoin [BTC] displayed a strong bullish trend on the 1-day chart. The top coin maintained its position with a 4.23% increase in value, placing its price at $5,939.80, at press time. BTC showed no prominent resistance or support since December 2018 and displayed consistent performance across 2019.

Positioned 1st owing to market capitalization, BTC’s 24-hour report showed a 24 hour trading volume of $17.3 billion with a market cap of $105 billion.

Bollinger Bands: The diverging upper and lower bands showed an increase in the volatility of the market, suggesting a bullish market for the crypto.

Relative Strength Index: As the RSI indicators breached the upper range of 70, an extremely high selling pressure for Bitcoin was projected.

MACD: The blue histogram plots and the higher position of the blue plot predicted a bullish market for BTC.

Litecoin [LTC] 1-Day

Source: TradingView

Support 1: $29.80

Support 2: $76.89

Resistance 1: $63.11

The 1-day chart for Litecoin [LTC] showed consistent growth pattern across 2019, with the bears dominating the LTC market since April. LTC was trading at $77.11, at press time, after averaging a growth of 5.65% over 24-hours. Further, the coin sported a 24-hour trading volume of $3.5 billion and a market cap of $4.7 billion, at press time.

LTC broke the $63.11 resistance in March, and maintained the strong support of $76.89, despite a consistent fall in its value since April.

Parabolic SAR: The formation of dotted markers below the graph suggested a bullish market.

Awesome Oscillator: The green spikes on the histogram also indicated an increase in buying pressure.

Chaikin Money Flow: The CMF was found creeping over the zero line, suggesting that capital was flowing into the LTC market.

Conclusion

Bitcoin [BTC] enjoyed a bullish trend while Litecoin [LTC] showed signs of recovery from the recent bear market.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC rides bull wave as LTC recovers slowly appeared first on AMBCrypto.

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