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Analysis

Litecoin, Ethereum Classic, Verge, Crypto.com Coin Price Analysis: 24 March

Saif Naqvi

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Source: Pixabay

Litecoin flipped $193.7 to a resistance level on the back of bullish indicators. Ethereum Classic continued to trade within a restricted channel. Verge attempted to rise towards a $0.038-local high, while CRO needed to overcome the $0.248-resistance to move closer to record levels on the charts.

Litecoin [LTC]

Source: LTC/USD, TradingView

Litecoin found support around the $183.8-mark following bearish price movement over the last few days. However, the 50-SMA (blue) and 200-SMA (green) were close to a crossover, a development that could fuel more bearish sentiments in the market. Even though the MACD pictured a bullish crossover, a hike above the $206-level seems unlikely, especially with the 200-SMA acting as resistance.

The RSI moved north but flattened around the 50-mark as the altcoin’s price approached its long-term moving average. On the plus side, trading volumes were clocked in at $3.7 billion, with the same picturing strong activity in the last 24 hours. A move above the $206-resistance could allow for additional gains around $220.4.

Ethereum Classic [ETC]

Source: ETC/USD, TradingView

Ethereum Classic was maintaining a neutral market as the price continued to trade between $12.5-$11.6. An ascension period usually follows an accumulation cycle, and the same could push ETC north at the end of the current phase.

However, the alt’s indicators did not signal a move away from the present channel, at least in the short-term. The ADX presented a weak trend on the bullish and bearish side, while narrow Bollinger Bands highlighted low volatility in the market. When a breakout occurs, the levels to look out for will include $13.9 and $15.

Verge [XVG]

Source: XVG/USD, TradingView

Verge underlined a strong uptrend after bouncing back from the $0.015-support on the 4-hour timeframe. Higher highs and higher lows showed an up channel as the price rose from its lowest point in the channel of $0.016, up to its highest point of $0.038, representing a gain of 153%.

While the price did move south from the channel, a pick up from the $0.029-support saw XVG attempt a comeback towards its local high of $0.038. The RSI was heading towards the overbought zone while the Stochastic RSI was northbound too. On the downside, the 24-hour trading volumes were largely muted, and the same would need to pick up if Verge wants to climb above its local high.

Crypto.com Coin [CRO]

Source: CRO/USD, TradingView

The Parabolic SAR’s dotted markers were below the candlesticks as Crypto.com Coin moved north from the $0.197-support. The MACD noted a bullish crossover as the bulls eyed a comeback to record levels. The same was backed by healthy trading volumes of $431 million.

However, the market bulls need to overcome the next ceiling at $0.248 first, a region that previously saw the domination of selling pressure.


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A business graduate with a keen interest in emerging markets across South East Asia. As a financial journalist, he covered stocks and market reports across Australia and New Zealand as well.