Litecoin dampened losses at $ 217.6 support – a region that also coincided with the 200 SMA and 50 SMA. IOTA saw a breakdown from an ascending channel but appeared to be moving back within the pattern after recovering from the $ 1.45 support. Eventually, Decred showed a weaker trend when trying to flip the $ 181.69 resistance.
The sharp bearish move in the Litecoin market caused the price to decline from the $ 217.6 ceiling and move towards a support line of $ 194.5. This level coincided with two moving averages – the 200-SMA (green) and the 50-SMA (black), which both acted as support lines over the 4 hour period. However, bearish indicators suggested that the bulls would struggle to maintain these levels in the upcoming sessions.
The MACD The line was moving well below the signal line and the histogram found increasing declining dynamics. The Awesome oscillator red bars threatened to move below the half-mark and this would likely lead to a failure of the current support line. The next line of defense is at $ 184.8 in a bearish scenario.
A breakdown from an ascending channel pulled IOTA towards the $ 1.45 level, but some resurgence has been seen on the 4-hour chart at that level. Successive bullish candlesticks showed a battle by the bulls and the price may move back within the pattern in the short term.
However, the indicators still indicated some skepticism in the market, especially after the Ingenious oscillator fell below the equilibrium point after a bearish double peak setup. While OBV registered a slight increase from a lower level since a sharp decline 10 days ago. The lack of buying pressure indicated that the cap of $ 1.706 has not yet been exceeded.
Decred attempted to reclaim the region above $ 181.69 and get closer to record highs at the time of writing. While a fresher record was achieved in the coming sessions, the indicators pointed to some market weakness. The ADX settled at 20 and suggested the cops are losing strength.
The RSI moved south after a bearish divergence and flattened at 53. This showed some equilibrium at the current price. The 24-hour trading volume wasn’t very noticeable either, but an increase in it could boost the DCR towards the $ 190 mark.
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