The latest market surge catapulted the collective cryptocurrency market cap beyond the $160 billion mark. The digital gold, Bitcoin [BTC], emerged as the winner while LTC’s price rallied significantly following mild bullish projections throughout the week. The virtual assets successfully broke resistance at multiple levels.

Bitcoin held a market cap of $80.67 billion and was priced at $4,578, at press time. BTC registered a 24-hour trading volume of $11.89 billion and rallied by 10.91% against the US dollar over the past 24 hours. Additionally, the crypto-asset witnessed a 15% spike in the past seven days.

Litecoin [LTC], registered a market cap of $4.04 billion and a 24-hour trading volume of $2.03 billion. The fourth largest coin was priced at $66.09 and exhibited a rise of 8.78% over the past 24 hours, while registering a 11.74% surge over the week.

1-day BTC chart

Source: TradingView

Bitcoin’s one-day chart exhibited a major downtrend from $6,521 to $4,026, with no uptrend in sight. The support for the crypto asset was found at $3,177 and $3,532, while the resistances stood at $5,551 and $6,359.

Parabolic SAR: The dotted markers were below the candlesticks, indicating a bullish price trend for the golden crypto.

Klinger Oscillator: The reading line was under the signal line and exhibited a bullish crossover.

MACD: The MACD line was also above the signal line, predicting a bullish pattern for the coin.

1-day LTC chart

Source: Trading View

On LTC’s one-day chart, an uptrend from $32.90 to $45.68 was seen, followed by a minor correction. An uptrend from $45.68 to $60.31 was also recorded. Downtrends from $89.09 to $53.92 and $55.86 to $33.97 were also pictured. The resistances for the digital asset stood at $74.79 and $84.40, while the support points were found at $48.32 and $29.88.

Bollinger Bands: The mouth of the bands depicted stagnant price movement for Litecoin as the bands moved parallely.

Awesome Oscillator: The closing bar of the indicator was green and forecast the coin’s foray into the bullish market.

Chaikin Money Flow: The CMF was well above the zero-line, suggesting that money was flowing into the coin market. Hence, a bullish trend was predicted for the silver crypto.

Conclusion

The daily chart for both Bitcoin and Litecoin projected strong bullish signals as the collective crypto market rode the bull wave to post gains.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins ride bull wave as collective market surges appeared first on AMBCrypto.

508 +