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.
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]
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.
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.
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