Funding rates for many major altcoins were quite high, which meant that there could be a cleanup soon to reset funding. On the spot trading side, Litecoin and Dogecoin have seen strong demand for the past few days as they flipped critical resistance to support. Chiliz continued to slide in the charts.
On the hourly chart, LTC formed a rising wedge pattern (white) and fell from $ 228 to $ 217 before resuming its bullish move. The $ 220 demand area lived up to its name and the $ 230 and $ 244 levels were flipped in support.
LTC was trading at $ 256 at the time of writing. The $ 270 and $ 287 are levels of overhead resistance.
While the Awesome Oscillator was forced to retreat to the zero lines, the dynamics were strongly positive over longer periods of time.
Dogecoin flipped the $ 0.062 level from resistance to support a few days ago and has seen strong buying volume since then. The RSI hit overbought territory and pulled back to 66 as DOGE also retreated $ 0.075 to test the $ 0.0716 retracement level.
A lower retracement to $ 0.066 is also possible. After this correction, DOGE would likely begin another move towards $ 0.08 and some levels of expansion are grayed out.
If DOGE falls below the 50% retracement level at $ 0.062, DOGE will again decline towards $ 0.05.
Chiliz has been in a steady downtrend since it peaked at $ 0.94. CHZ has support at $ 0.47 and $ 0.42, and any further decline could cause demand to rise at $ 0.37. However, there was no sign that CHZ was ready to begin a rebound towards USD 0.9 again.
The A / D line showed strong, steady selling pressure on CHZ, which has forced the coin to trend lower on the charts for the past few weeks. It only seemed like a matter of time before CHZ fell below the $ 0.4 mark.
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