The cryptocurrency market is still undergoing a correction after the price hike on May 3. This hike was led by the largest cryptocurrency, Bitcoin [BTC] as it crossed the $100 billion market cap and breached its immediate resistance. Along with Bitcoin [BTC], altcoins like Litecoin [LTC], which ranks fifth on CoinMarketCap, also registered significant growth.

Bitcoin [BTC]

At press time, BTC was valued at $5,749 with a market cap of $102 billion. The 24-hour trading volume of the coin was reported to be $16.82 billion as it surged by 0.77% within an hour. In the past seven days, BTC has grown by 9.77%.

Source: Trading view

Resistance- $5,770.01

Support- $3,907.54

Bollinger Bands appeared to be diverging, which signals an increase in market volatility. The moving average line was under the candlesticks, marking a bullish trend.

Awesome Oscillator marked a strengthening bullish trend.

Chaikin Money Flow pointed towards a bullish market as the indicator remained above the zero-mark.

Litecoin [LTC]

At press time, the coin was valued at $77.31 with a market cap of $4.76 billion. The 24-hour trading volume of the coin was reported to be $3.20 billion as the coin dipped by 1.28% over the past day. LTC managed to register a 7.66% growth within the past seven days and continued to report minimal growth of 0.53% within the past hour, at press time.

Source: Trading view

Resistance- $92.32

Support- $60.25

Parabolic SAR pointed towards a bullish market as the markers aligned under the candlesticks.

MACD line indicated a bullish market right after a crossover with the signal line.

Relative Strength Index indicated that buying and selling pressures had evened each other out.

Conclusion 

According to the long-term charts of BTC and LTC, a bullish trend is being forecast.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls rage as bears leave market appeared first on AMBCrypto.

301 +