2019-4-22 12:30 |
The silver cryptocurrency Litecoin [LTC] was exhibiting high volatility after sliding below the $80-mark, while the king coin Bitcoin [BTC] managed to hold above the $5,000-mark.
At press time, the largest cryptocurrency on CoinMarketCap, BTC held a market cap of $93.42 billion and was priced at $5,290. The cryptocurrency registered a 24-hour trading volume of $14.06 billion and exhibited a decline of 1.10% over the past 24 hours.
Litecoin [LTC], held a market cap of $4.69 billion and a 24-hour trading volume of $2.98 billion. The crypto-asset was valued at $76.39 and fell by a major 6.05% over the past 24 hours.
1-day BTC chart
Source: TradingView
The candlestick arrangement on BTC’s one-day chart exhibited a downtrend from $6,451 to $5,309, along with a small uptrend from $4,201 to $5,043, followed by a minor correction from $5,043 to $5,315. The supports for the crypto-asset were found at $4,036, $3,789 and $3,469, while the immediate resistances were at $5,654 and $6,467.
Bollinger Bands: The mouth of the band was parallel and predicted a stagnant phase for BTC’s price.
Awesome Oscillator: The closing bars of the indicator were red and continued to draw a bearish picture for the coin.
Chaikin Money Flow: The CMF was also below the zero-line, indicating that money was flowing out of the coin market. Hence, a bearish price trend for BTC was forecast.
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. Another uptrend from $61.17 to $79.47 was also recorded. The coin was rapidly fluctuating in the $75 – $83 range. Two minor downtrends from $56.52 to $34.73 and $92.81 to $82.92 were also registered.
A price break was being anticipated, one that may push the coin over the recently surpassed $90-mark. The support points for LTC stood firm at $50.58, $44.54 and $31.43.
Parabolic SAR: The dotted markers were above the candlesticks, suggesting a bearish phase for the crypto-asset.
Klinger Oscillator: The reading line was also below the signal line and projected a bearish course for LTC’s price.
MACD: The MACD line was also below the signal line, depicting a bearish pattern for LTC’s valuation.
Conclusion
Bears have consolidated their position in the BTC and LTC market. However, LTC was hit hard by the latest bearish wave after failing at market correction.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins tread uncharted territories as bears look for prey appeared first on AMBCrypto.
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