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Analysis

Bitcoin [BTC] v. Litecoin [LTC] Price Analysis: Coins ride bull wave despite LTC losing out to EOS

Sarvesh Kumar

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Bitcoin [BTC] vs. Litecoin [LTC] Price Analysis: BTC and LTC is seen facing a bull rally even after LTC debacle.


Litecoin [LTC], which stood at 5th position until yesterday, slipped to the 6th position on CoinMarketCap after EOS overtook it. Litecoin’s ‘big brother,’ Bitcoin [BTC], continued to consolidate its position as it primed itself for breaching the $9000 mark.

1 Day BTC chart

Source: TradingView

Resistance: $8779.81

Support: $3156.54

BTC had a 24-hour trading volume of over $24 billion, with a market cap of around $151 billion, at press time.

Uptrend 1 was seen from $3345.02 to $3911.33, while the second uptrend extended from $4098.98 to $5130.91. Resistance was recorded at $8779.81, while the support was at $3156.54.

Bollinger Bands signified squeezing volatility, after a good phase of short-term momentum in the market.

Relative Strength Index was pictured above the fifty marker, indicating buying pressure in the market.

MACD pictured a bullish crossover in the BTC market. However, a bearish crossover was imminent.

1 Day LTC chart

Source: TradingView

Resistance: $116.96

Support: $22.45

Litecoin [LTC] had a market cap at $6.98 billion, with the 24-hour trading volume at $4.24 billion.

An uptrend was seen from $32.42 to $65.80, while resistance and support were seen at $116.96 and $22.45, respectively.

Parabolic SAR indicated a bullish market as the dotted markers were below the candlesticks.

Chaikin Money Flow was just above the zero line, signifying money inflow into the LTC market.

Awesome Oscillator highlighted a bullish buying opportunity in the market, at press time.

Conclusion

Despite Litecoin losing its perch to a surging EOS, both LTC and Bitcoin continued to ride the bull wave and post significant gains.





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I am a journalist here at AMBCrypto. I cover news on prices of various coins in the crypto-verse and also work on the latest news of coins like - Bitcoin| Ethereum| Litecoin and more.

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