Litecoin, AAVE, Filecoin Price Analysis: 16 September
As Bitcoin and Ethereum slowly started to appreciate on their respective charts, many altcoins started to record gains. The likes of Litecoin, AAVE, and Filecoin all surged over the last 24 hours.
Litecoin rose by 5.2%, aiming to secure a fresh one-week high. AAVE, after surging over the past three days, noted gains of 3.6% over the day, eyeing a break over its immediate resistance.
Filecoin, finally, hiked by 6.7% and could register a one-week high with its uptrend.
Litecoin hiked by 5.2% over the last 24 hours and was priced at $191.20. The immediate overhead price ceiling stood at $192.33 and LTC can topple that price level over the next few trading sessions. Additional price levels awaited the crypto at $207.34. Hitting the aforementioned price level would mark LTC’s one-week high. Trading over the $207.34 price level could push LTC to retest the multi-month high level of $231.58.
Technicals for the coin remained bullish. MACD flashed green histograms. The Relative Strength Index had a reading of 60. The Awesome Oscillator pictured green signal bars that were growing, suggesting that bullish price action can be anticipated over the next few trading sessions.
Litecoin’s price was observed to be above the 4-hour 20-SMA, indicating that momentum belonged with the buyers.
On the contrary, the support level lay at $163.38.
Recently, Walmart dismissed all claims of accepting Litecoin payments, confirming that the press release was false.
AAVE rose by 3.6% and was valued at $393.91. The alt saw a sharp uptrend over the last 72 hours, with the crypto likely to meet its resistance level at $414.15. Breaking above the said level, it could attempt to retest its one-month high of $441.27.
AAVE’s price was well above its 4-hour 20-SMA – A sign of price momentum being in favour of buyers.
The outlook for the altcoin was positive too. The MACD was positive as the indicator observed green histograms. The Relative Strength Index was near the 60-mark – A sign that buying strength existed in the market. Chaikin Money Flow was in the bullish territory as the capital inflows were positive.
On the flip side, if AAVE loses momentum, it could fall to $338.25. This would mean that the coin would trade near its one-week low. Additional support was found at $302.90.
FIL surged by 6.7% in 24 hours and was priced at $86.58. Immediate resistance was at $92.10 and touching that level would mark a one-week high for Filecoin. Toppling it would mean that the alt would retest its multi-month high of $117.53. Parameters flashed positive price action for Filecoin.
The MACD flashed green histograms. The Relative Strength Index was in the bullish zone as buying strength existed in the market. Bollinger Bands diverged in an indication of high price volatility.
In case Filecoin’s price swings downwards, the first support level awaited at $81.68. A fall from the aforementioned price floor could pull the price close to its one-month low of $65.80.
In recent news, Code Chain New Continent has announced through its non-binding LOI to purchase Filecoin Mining Assets.