2019-4-7 12:30 |
A collective bullish wave was witnessed in the cryptocurrency market as Bitcoin [BTC] and its silver counterpart Litecoin [LTC] continued to garner positive valuation hikes and consolidated a strong stable price.
The largest digital asset, according to CoinMarketCap, improved by 2.61 percent in comparison to the US dollar and recorded a massive $90.9 billion market capitalization. The trade volume over the past 24 hours remained at $17.45 billion and the coin was priced at $5,157.3, at press time.
Litecoin boasted an impressive hike of 8 percent with respect to the US dollar and the coin was priced at $94.78, keeping close proximity to a triple-digit valuation. The trade volume garnered was about $1.6 billion over the past 24 hours.
Bitcoin 1-day chart:
Source: Trading View
The one-day BTC chart appeared bullish as a major uptrend was seen on the chart. The price valuation extended from $4,095.4 to $5,153.7. The coin treaded sideways between the resistance line at $4,212.2 and the support line at $3,438.4 for a long time until the recent price surge.
The Bollinger Bands pointed towards a volatile period for the coin’s price as the bands diverged from each other.
The Chaikin Money Flow or CMF line treaded above the zero-line and indicated a major cash inflow in the coin market.
The Awesome Oscillator or AO indicated strong bullish momentum for the coin as green bars dominated the chart.
Litecoin 1-day chart:
Source: Trading View
Litecoin’s [LTC] one-day chart indicated a consistent increase in the valuation of the coin even before the price surge as the coin improved its value from $47.596 to $92.85 this year. The coin had a strong resistance at $62.639 and the long-term support line remained at $30.9.
The Parabolic SAR for the token remained bullish as the dotted markers remained under the candlesticks on the chart.
The MACD line remained above the red line on the chart and indicated a continued bullish run for the token, with no possibility of a trend reversal.
The Relative Strength Index or RSI exhibited a clear dominance of the selling pressure as the token was oversold.
Conclusion:
The bullish wave could continue for the aforementioned coins as the prices consolidated their valuations and kept a bullish pace in the market.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins march on with bulls leading the market appeared first on AMBCrypto.
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