Litecoin, Enjin Coin, Axie Infinity Price Analysis: 04 October
Major altcoins have shown a dip on their respective charts, although some altcoins have hit a jackpot with new all-time highs recorded today. Axie Infinity secured its all-time high and was showing good bullish momentum. Enjin also gained a considerable 9% and moved to trade near its resistance level of $1.77. Litecoin, on the other hand, consolidated with a loss of 1.8% and could trade near its immediate price support of $161.70.
Litecoin was trading at $165.59 and it had declined 1.8% over the last 24 hours. The altcoin was moving close to its support line of $161.70, failing to hold above which the coin could rest on $147.98. The additional price floor stood at $135.61. Over the past day, the altcoin saw a major sell-off, owing to which the price of the coin fell.
The Awesome Oscillator displayed red signal bars. MACD underwent bearish crossover after which it noted red bars on its histograms. The Relative Strength Index fell, although it was within the bullish zone. The indicator, however, threatened to fall below the 50-mark with another dip in prices.
In case buying strength remained positive, the price of Litecoin can see recovery and trade near the price resistance of $175.69. The other price ceiling rested at $191.78, the coin had last touched this price level three weeks ago.
Enjin Coin (ENJ)
Enjin Coin rose by 9% over the last 24 hours and was priced at $1.60 and could attempt to touch the next resistance of $1.77. The altcoin was the last trading at this level almost two and a half weeks ago. Buying strength for the coin remained quite stable and key technical indicators also depicted that price action was bullish.
The Relative Strength Index was beneath the overbought territory, near the 70-mark, which displayed buying strength. Awesome Oscillator depicted green signal bars. Bollinger Bands were constricted, suggesting price volatility would remain low over the next trading sessions.
In case of a negative correction, ENJ can drop down to trade near the support level of $1.48 and then $1.33. The other price floor rested at $1.22.
Axie Infinity (AXS)
Axie Infinity soared 27.1% over the last 24 hours and was trading at $155.62. The altcoin had secured an all-time high and its psychological resistance would be at $160. Buying pressure in the market had shot up and the Relative Strength Index was on a multi-month high.
AXS had shot up owing to buyers resurfacing in the market. Technically, the coin also remained positive. On the four-hour chart, the price of AXS stood above the 20-SMA line which indicated that price momentum was with the buyers.
The Relative Strength Index was above the 75-mark as the altcoin was overvalued. Awesome Oscillator flashed green signal bars. Chaikin Money Flow was also bullish as capital inflows had increased.
A fall from its current price level could bring AXS down to its support level of $107.45. The other price support levels for the coin stood at $92.92 and then at $79.71.