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Litecoin, OMG Network, SushiSwap Price Analysis: 15 January

Akashnath Sumukar

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Source: Pixabay

Litecoin appeared to be consolidating around $150 as it gathered steam to begin another northbound move to test the $180-level of resistance. OMG Network saw a similar scenario on the charts as it surged past $3.1 over the past few days, with the crypto heading towards $4.1. SushiSwap too was bullish on the charts and faced no significant historic resistance from $6.4 to $8.9.

Litecoin [LTC]

Litecoin, OMG, SushiSwap Price Analysis: 15 January

Source: LTC/USD on TradingView

The range from $122 to $180 for LTC had its mid-point at $151, with the price stagnating in the vicinity of this mark over the past few trading sessions.

The Awesome Oscillator noted a change in momentum towards the bullish side. Further, the OBV noted that higher lows have been continually set. This is a trend that goes back to late November and speaks of a strong demand behind LTC’s rally.

Reclaiming the $150-region will be the first step for the bulls to steer LTC towards $180.

OMG Network [OMG]

Litecoin, OMG, SushiSwap Price Analysis: 15 January

Source: OMG/USDT on TradingView

Since early September, there have been three levels of importance for OMG – resistance at $4.1, support at $2.4, and $3.1 sandwiched in-between.

Of these, $3.1 is the most noteworthy. A bounce off of or a slip under this level has dictated the crypto’s short-term market direction. Consolidation above this level has generally seen the price rise towards $4. The most recent instance is expected to be of the same nature.

OMG climbed past $3.1, retested it as support, and was heading higher, at the time of writing. The RSI rose above neutral 50 as well to indicate bullish momentum. Hence, $4.1 was likely to be tested in the coming days.

SushiSwap [SUSHI]

Litecoin, OMG, SushiSwap Price Analysis: 15 January

Source: SUSHI/USDT on TradingView

SUSHI has been making enormous gains over the past few weeks. Its low at $0.47 in November is a long way back now, and the next significant level of resistance for SUSHI lay at $8.9.

The Stochastic RSI was in the overbought territory and suggested that SUSHI would experience a pullback before another move north. The MACD and Signal lines were also some distance apart to show strong bullish momentum.

It is unclear when exactly a dip might occur. The $5.9-$6 region could be tested, or SUSHI might register further gains before a tiny dip.

What is certain is the strong bullish momentum behind SUSHI and a lack of upside resistance.

Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.