2019-4-20 11:00 |
Bitcoin [BTC]’s hold above the $5,000-mark has been a celebrated affair with several proponents of the cryptocurrency and the crypto-verse taking it as a sign signifying the end of the bear market. Litecoin [LTC] had a recent run on the charts too when the coin became one of the best performers in the recent bull run. However, the coin’s price has since fallen considerably.
BTC 1-day:
Source: TradingView
Bitcoin’s one-day chart showed a downtrend that lowered the price from $6,540.82 to $5,266.87. The long-term support was at $3,143.64.
The Bollinger Bands had converged which meant that Bitcoin was in a bearish environment. The convergence comes after the bands formed the largest Bollinger cloud in three months.
The Chaikin Money Flow indicator was above the zero-line, a sign of the capital coming into the market being more than the capital leaving the market.
The Awesome Oscillator had spiked in amplitude as Bitcoin’s market momentum increased by a significant amount for the first time in 2019.
LTC 1-day:
Source: TradingView
The one-day chart for Litecoin painted a picture opposite to that of Bitcoin as an uptrend lifted the price from $26.36 to $92.47. Litecoin’s long-term support was at $22.54.
The Parabolic SAR was below the price candles, which showed that LTC was going through a bullish atmosphere.
The Relative Strength Index was close to the overbought zone as the buying pressure was significantly more than the selling pressure.
The MACD indicator had risen drastically as the signal line and the MACD line went through a bullish crossover. The MACD histogram was a mix of bearish and bullish signals.
Conclusion:
The indicators stated that Bitcoin’s bullish surge was over as Litecoin fell into a sideways movement. The analysis also showed a lack of any major price outbreak in the near future.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Prices stagnate as bull run falls short of momentum appeared first on AMBCrypto.
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