Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls in control despite bears’ looming presence

2019-4-8 12:30

Bitcoin [BTC] and Litecoin [LTC] continued to gain against the US Dollar and breach their respective immediate resistances on April 8.

The largest crypto asset on CoinMarketCap, BTC, held a market cap of $93.08 billion and was priced at $5,278. The digital gold registered a 24-hour trading volume of $17.26 billion and was rallying by 2.25% against the US dollar over the past 24 hours, at press time. The coin surged by 27.90% over the past seven days.

Litecoin [LTC], the fourth largest cryptocurrency, registered a market cap of $5.59 billion and a 24-hour trading volume of $3.15 billion. The crypto-asset was valued at $91.40 and exhibited a decline of 2.78% over the past 24 hours, while registering a significant surge of 50.62% over the week.

1-day BTC chart

Source: TradingView

The candlestick arrangement on BTC’s one-day chart exhibited a major downtrend from $6,459 to $4,186. The supports for the crypto-asset were found at $3,902 and $3,602. The immediate resistances on the BTC daily chart were at $5,663 and $6,562.

Bollinger Bands: The mouth of the bands was open. The divergence of the bands depicted volatility for the coin’s price.

Awesome Oscillator: The closing bar of the indicator was red, suggesting a bearish pattern.

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

1-day LTC chart

Source: TradingView

The one-day LTC chart exhibited two uptrends from $32.90 to $45.68 and from $45.68 to $60.31, followed by a minor correction. A minor downtrend from $56.52 to $34.60 was also seen. The coin successfully breached the previously marked resistance at $90 and is anticipated to surpass $100 in another potential price break soon. The support for LTC stood firm at $41.93 and $28.66.

Parabolic SAR: The dotted markers were below the candlesticks, predicting a bullish phase for the silver crypto.

Klinger Oscillator: The reading line was above the signal line, also depicting a bullish pattern for LTC.

MACD: The MACD line was above the signal line. This projected a bullish phase for the coin.

Conclusion

Bitcoin [BTC] exhibited mixed signals, with potential price breakouts expected. Its silver counterpart, Litecoin [LTC], was projected to enjoy strong bullish movements.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls in control despite bears’ looming presence appeared first on AMBCrypto.

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Источник: ambcrypto.com

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