Litecoin could claim the region above $ 400 before a correction period. Uniswap had to maintain the $ 38 support to avoid a large sell-off. Finally, Ethereum Classic could see another price volatility if there was a consolidation in the coming days.
Litecoin’s growth of over 200% since the beginning of the year has been fairly constant compared to other large caps. While the recent rally was up nearly 50% against the USD 265 support, some technical data suggested a correction was due. RSI has been trading in the overbought region for the past few days, proposing a retreat for the 10th largest cryptocurrency in the world.
Due to LTC’s price behavior over the past few months, there is a strong sell-off every time RSI is traded in the upper region. If so, LTC could dip towards $ 300 or $ 301. If the latter is broken, LTC could fall as low as $ 250 – a level that coincided with the 50-SMA (yellow). Before that happens, LTC could hit the $ 400 psychological level. The Supertrend indicator showed a buy signal, but if it fell below 290 USD it would turn into a sell.
Ingenious oscillator noted that the upward momentum subsided as Uniswap fell from $ 45 to $ 38.2 (lower trendline of the descending triangle). AO’s last fall below equilibrium was in late March, and healthy buying pressure would likely counteract any prediction of default. To force a breakout to the upside, the bulls will need to recapture $ 41.5 from the bears, and a break above $ 45 could fuel another rally.
Chaikin cash flow have shown positive net inflows since mid-April, but a fall below half the line would signal an in-depth price correction. As mentioned earlier, a sell-off towards a declining result of $ 35 could take place.
Ethereum Classic [ETC]
Ethereum Classic lost ground at $ 130, but a bullish battle was recorded at $ 116.8 support. The next few days could be extremely important for ETC’s medium term development. Consolidation at current price levels would result in a stronger bullish pennant and a breakout north. Conversely, a drop below $ 110 could trigger a sell-off. The daily timeframe was still showing the bullish market conditions, but there was some weakness as well.
RSI after early May after trading in the overbought zone to warrant a correction. A drop below 44 would signal a strong bearish price movement. Even MACDs The histogram found a closing gap between the fast moving line and the signal line. A bullish result would depend on a jump above $ 151.
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