The cryptocurrency market witnessed a significant drop today, with the collective market cap falling to $170.9 billion following the Bitfinex-Tether episode.

At press time, Bitcoin [BTC] held a market cap of $93.60 billion and was priced at $5,298, registering a 24-hour trading volume of $17.92 billion. The largest crypto-asset on CoinMarketCap fell by 2.83% over the past 24 hours.

BTC’s silver counterpart, Litecoin [LTC], was struggling below the $80-mark and fell by 0.55% over the last 24 hours. It recorded a 24-hour trading volume of $3.24 billion. The fifth largest digital asset held a market cap of $4.47 billion and was priced at $72.66.

Bitcoin [BTC]

Source: TradingView

The one-day BTC chart recorded an uptrend from $4,192 to $5,210, along with a downtrend from $6,451 to $5,309. The immediate resistances were at $5,654 and $6,467, while the supports stood at $4,036, $3,789 and $3,469.

Bollinger Bands: The mouth of the bands depicted a stagnant price market phase for Bitcoin.

Awesome Oscillator: The closing bars of the indicator were red and indicated a bearish pattern for the coin.

Chaikin Money Flow: The CMF was above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish price trend for BTC was recorded.

Litecoin [LTC]

Source: TradingView

The candlestick arrangement on the one-day LTC chart registered a significant uptrend from $33.67 to $71.76, depicting fair price movement since the beginning of the year. A downtrend from $56.34 to $34.70 was also observed in the above chart. The resistance continued to be the much anticipated $90-mark. The supports for the coin stood firm at $59.31, $49.83 and $43.52.

Parabolic SAR: The dotted markers were above the candles, indicating a bearish phase for Litecoin.

MACD: The MACD line was below the signal line, projecting a bearish pattern for LTC’s valuation.

Klinger Oscillator: The reading line was also below the signal line and depicted a bearish trend for the coin’s price.

Conclusion

After the latest market dip, Litecoin struggled to get hold of the bull, while Bitcoin exhibited stagnancy in its market behavior.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coin prices dip as bullish momentum stalls appeared first on AMBCrypto.

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