Connect with us

Bitcoin

Bitcoin and Litecoin Price Analysis: BTC bulls bellow past $8,000 mark as LTC follows king coin

Yash Rajan

Published

on

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $8,000 mark as LTC follows king coin
Source: Pixabay


Bitcoin [BTC] was priced at $8,022.25, marking a rise of 2.36% over the 24-hour cycle. The king coin retained its throne with 55.4% market dominance, according to CoinMarketCap. BTC had a market cap of $142.37 billion as it crossed the $8,000 mark.

Litecoin [LTC] was valued at $117.59 with a hike of 5.65% over the last 24 hours. LTC took the 4th position with a market cap of $7.30 billion, at press time.

1-Day BTC

BTC faced opposition from the resistance line at $8,811.96; support lines stood at $4,853.63 and $3,330.44. BTC saw two major uptrends. The first started from $4,073.61 to $8,235.36 as the second uptrend began at $8,235.36 and ended at $8.792.73.

Source: TradingView

Source: TradingView

Relative Strength Index revealed that buying pressure was slightly higher in the market as the indicator line stood at 53.13.

Chaikin Money Flow indicator showed that money flowing into the market was significantly higher than money flowing out as the indicator line stood at 0.10, just above the zero-line.

Awesome Oscillator presented a declining bullish buying opportunity.

1-Day LTC

Source: TradingView

Source: TradingView

Bollinger Bands were diverged pointing towards a bullish market trend.

Parabolic SAR exhibited a bullish trend as the markers were placed below the candles.

MACD presented a bearish crossover as the MACD line crossed beneath the signal line, along with picturing a bullish crossover as well in the offing.

Conclusion

BTC gained momentum and pointed to a bullish trend by crossing the $8,000 mark. LTC was on a bullish ride but faced opposition from bears.





Subscribe to AMBCrypto’s Newsletter


Ads

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement