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Litecoin, IOTA, Aave Price Analysis: 14 May

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Litecoin trimmed its losses between $300-$330, but the spotlight would likely remain within this zone. IOTA bulls were required to defend the $1.63-support to avoid a breakdown from a descending triangle. Finally, a green candle would likely see the market’s bulls retain control of AAVE over the short term.

Litecoin [LTC]

Source: LTC/USD, TradingView

Large cap alts, including Litecoin, were provided with fresh impetus after Ethereum reclaimed the $4,000-mark. Litecoin shifted back into the green zone and rose by over 2% over the last 24 hours. The region between $300-$330 defended an extended sell-off, but the next few days would provide more clarity to this area’s resilience. In case of a broader market fall, it seemed likely that this area would be breached by the market’s bears. This would underline the next defensive zone between $266.3 and $243.3. This zone also clashed with the 50-SMA (yellow).

A bearish crossover in the MACD still pointed to weakness in the market’s price. The Awesome Oscillator’s red bars agreed with the MACD as bulls were yet to take control.


Source: IOTA/USD, TradingView

IOTA’s bottom trendline at $1.63 represented a crucial support area. A breakdown from this defensive front could result in a sharper sell-off towards $1.28 or even the 200-SMA (now shown) close to $1.01. On the other hand, the upper trendline needed to be pierced for a bullish outcome.

Since late February, the On Balance Volume has generally maintained an uptrend – a sign of healthy buying pressure in the market. If investors decide to take profits after a sustained period of buying, IOTA would likely drop below its long-term simple moving average. Conversely, the buying pressure could aid IOTA in the event of a bearish downturn.

According to the Chaikin Money Flow, capital inflows have been on the up over the past few days.

Aave [AAVE]

Source: AAVE/USD, TradingView

Aave’s daily timeframe noted an interesting development. After two consecutive bullish candlesticks, the formation of a doji candlestick hinted at an incoming pullback. However, the crypto-asset registered a series of green candlesticks on the 4-hour timeframe as buying activity picked up over the last 24 hours.

If today’s close results in a bull candle, the buyers would likely retain control of the market in the short term. This, however, would also be dependent on broader market cues. If Ethereum consolidates above $4K, AAVE would likely see rangebound movement of its own between $537-483.

The Awesome Oscillator’s green bars showed that market momentum rested with the buyers. To culminate into a price hike, the AO’s movement would need to be backed by strong volumes. Further strength was highlighted by the RSI being above 60.


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.
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