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Bitcoin [BTC] vs Litecoin [LTC] Price Analysis: King coin rides bull wave as LTC follows suit

Rishi Raj

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Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bitcoin [BTC] rides the bull wave, LTC follows suit
Source: Pixabay


Bitcoin [BTC] was priced at $8,599, with a market cap of $152 billion. The 24-hour trade volume of the coin came up to $21.49 billion, out of which, Negocie Coins contributed 6.47% via the BTC/BRL pair. BTC saw a gain of 0.56% in the past 24 hours, at press time.

After EOS overtook Litecoin [LTC] and captured the fifth position, [LTC] was priced at $113.11, with a market cap of $7.01 billion. The 24-hour trade volume came up to $3.75 billion, out of which Coineal contributed 12.32% via the BTC/LTC pair. LTC saw a decrease of 0.87% in the past 24 hours, at press time.

1-Day BTC

Source: TradingView

The one-day chart of BTC showed an uptrend from $5,560 to $8,731.72. The strong support point stood at $3,147.22, which hasn’t been tested since December 2018. The resistance point was at $8,802.24.

The Parabolic SAR showed a bullish trend as the dotted markers were under the candles.

The Relative Strength Index showed a bullish trend as the line was treading the overbought zone.

The Chaikin Money Flow showed that capital was flowing into the market.

1-day LTC

Source: TradingView

The one-day chart of LTC showed an uptrend from $55.88 to $116.50. The support points were at $22.48, which was tested in December 2018, and $28.95, which was tested a number of times since November 2018. The resistance point was at $116.46.

The Parabolic SAR indicated a bullish trend as the dotted markers were under the candles.

The Chaikin Money Flow indicated a bullish trend as the flow of the capital into the market was more than the outflow.

The MACD indicator indicated a bullish trend as the MACD line was above the signal line.

Conclusion

The one-day chart of BTC showed a bullish market, as indicated by the aforementioned indicators. The same can be said about LTC.





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Mastered the colonial language, inspired by music and places, crypto geek. Fries on mind 24/7, believes that Romeo and Juliet could have worked things out.

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