Bitcoin [BTC], the king of all cryptocurrencies, continued its bull run with 55.80% in market dominance. The digital gold coin was priced at $8,546.52. As BTC crossed the $8,500 mark, it added value to most altcoins, recording noteworthy increases. BTC’s 24-hour trade volume was $24.36 billion and held a market cap of $151.56 billion market after hiking 2.91% over the day.

Litecoin [LTC] was valued at $113.77 at press time, after hiking 5.71%. The coin held a 24-hour trading volume of $4.38 billion and held a market cap of $7.05 billion.

1-Day BTC

BTC saw two uptrends, first started at $4,147.92 and ended at $8,235.36. The second uptrend was from $8,309.67 to $8,792.73. The resistance was positioned at $8,811.96 and the support was at $7,218.63.

Source: TradingView

Relative Strength Indicator showed that the cryptocurrency was currently overbought in the market as the indicator was at 65.31, above the 50-line.

Awesome Oscillator displayed a consistent growth rate above the zero-line and presented a bullish buying opportunity.

Chaikin Money Flow indicator revealed that money flowing into the market was higher than the outflow.

1-Day LTC

LTC saw resistance at $117.32 and the uptrends were from $39.13 to $91.78, from $91.39 to $102.08 and between $103.26 – $115.93. The support was positioned at $108.14.

Source: TradingView

Bollinger Bands showed an increase in market volatility as the bands were diverging.

Parabolic SAR indicator presented a bullish trend in the market as the dotted markers were below the candles.

MACD indicated a strong bullish presence as the moving average line was placed well above the signal line.

Conclusion

Bitcoin and its silver counterpart Litecoin seem to be in a bullish territory as the market tries to emulate the 2017 bull run.

The post Bitcoin [BTC] vs Litecoin [LTC] Price Analysis: BTC bulls take LTC for a ride appeared first on AMBCrypto.

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