There are speculations in the crypto space that a bull run has already begun. Bitcoin and other altcoins like Litecoin are starting to go up instead of going sideways in the shorter time frames.
Litecoin has performed well and has increased by 7% over the last seven days. At press time, Litecoin was trading at $53.24, with the market cap hitting $3.14 billion.
Litecoin has been consistent with its uptrend and has increased its range in the same direction. It spans over the price range starting from $48.17 to $53.10, with a small break happening in between.
The prices have been bouncing off the support line at $52.75. The last support is holding steady at $48.17. The prices have broken the previously set resistance at $55.18, thus creating a new resistance at $55.88.
There is a small downtrend seen with the Parabolic SAR markers spawning over the candles, indicating a bearish presence.
The RSI indicator is below the 40 line, indicating that the sellers are in control of the market.
The RVGI and the signal lines have been consistently setting up lower highs mimicking the prices and there is a bearish crossover seen as a result.
The downtrend hasn’t lost its dominance in longer time frames. The trend starts from$177.74 and extends over to $55.98.
The long-term support is holding steady at $48.45, but the prices, just like in the short-term, have broken the previously set resistance at $53.53 and is slowly scaling up. Long-term resistances are set up at $68.35, $89.02 and $125.
The Bollinger Bands indicate a slightly bullish trend as the prices candles are forming above the exponential moving average. The squeeze has ended and expansion is underway, indicating the increase in volatility in the market.
The Aroon indicator shows a strong uptrend in play as the Aroon up has hit the 100 line. The Aroon downline is slowly moving towards the bottom indicating the weakening of the downtrend.
The MACD indicator shows a clear bullish sign with a bullish crossover seen, and the histogram representing steadily increasing green bars over the zero line.
The one-hour chart is indicating a bearish trend emerging and the indicators show the same. Contrary to the one-hour chart, the one-day chart is positive, as the Aroon, MACD, and Bollinger indicate a bullish trend.
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XRP and Stellar Lumens [XLM] Price Analysis: Coins struggle to cope with bearish pressure
XRP, the third largest cryptocurrency, saw huge amounts of funds being moved earlier today. XRP was priced at $0.3701, with a market cap of $15.5 billion, at press time. The 24-hour trade volume came up to be $1.9 billion out of which, ZBG contributed 6.90% via XRP/USDT pair. XRP had fallen by 7.31% over the last 24 hours, at press time.
XRP’s competitor, Stellar Lumens [XLM] was priced at $0.122, with a market cap of $2.35 billion. The 24 hour trade volume came up to be $416 million, out of which BW.com contributed 10.84% via XLM/USDT pair. XLM fell by 8.61% over the last 24 hours, at press time.
The 1 day chart for XRP showed a downtrend from $0.5821 to $0.4550. The support point stood at $0.2881. The resistance points were seen at $0.4546 and $0.5247.
The Parabolic SAR showed a bearish trend as the dotted markers were formed on top of the candlesticks.
The MACD indicator hinted at a bearish crossover.
The Relative Strength Index indicated that the buying pressure was falling as the graph was seen to be in a downward move, indicating bearish trend.
1 day- XLM
The 1 day chart for XLM showed a downtrend from $0.2775 to $0.1430. The support point stood at $0.0738. The resistance points were seen at $0.1432 and $0.2541.
The Klinger Oscillator showed a bearish trend as the Klinger Oscillator dropped below zero, along with a drop in price
The Chaikin Money Flow crept below zero, indicating a greater outflow of capital, than inflow
The Relative Strength Index showed a decrease in buying pressure, indicating a bearish phase for the coin market.
The 1 day chart for XRP showed an overall bearish trend, as indicated by the aforementioned indicators. The same can be said about XLM.
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