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Litecoin, Tron, Elrond Price Analysis: 15 February

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Source: Pixabay

The altcoin market saw a sharp plunge but recovered a few hours later. Litecoin found some support at $192, while Tron struggled to stay atop the $0.05 level. Elrond saw a pullback and could be set to retrace further.

Litecoin [LTC]

Litecoin, Tron, Elrond Price Analysis: 15 February

Source: LTC/USD on TradingView

Litecoin was forced to touch the $192 mark once more, but its short-term outlook flipped back to bullish as the RSI rose above neutral 50 once more.

In the long-term, LTC has broken past the $180 level which represents the range highs, from $123 to $180. Above the $200 price level, the $225 mark posed some resistance to LTC but it appeared that bulls had seized the initiative and were ready to move the price to those levels once more.

Tron [TRX]

Litecoin, Tron, Elrond Price Analysis: 15 February

Source: TRX/USDT on TradingView

Tron climbed steadily toward the $0.06 mark but even as its price rose over the past few days, the OBV made a series of lower highs. This bearish divergence pointed toward a pullback for TRX.

Bitcoin’s drop also affected the price adversely and TRX slipped beneath $0.05 but climbed it back once more to trade at $0.052 at the time of writing.

The MACD formed a bullish crossover and was headed upward but was in bearish territory, indicative of a bounce. The Parabolic SAR gave a sell signal. The OBV would need to pick up, and TRX would need to climb back above the $0.056-$0.058 region before it can be considered to be headed higher once again.

Elrond [EGLD]

Litecoin, Tron, Elrond Price Analysis: 15 February

Source: EGLD/USDT on TradingView

Using the Fibonacci Retracement levels for two different moves of EGLD up to $16.99, some confluence between the retracement levels was seen. These regions, such as the $132 and the $97 areas, can be expected to serve as support.

In the short-term, defense of the $132 would give bulls some impetus as it moves northward. However, the Awesome Oscillator was plunging following the recent sell pressure.

A session close beneath $132 would likely see EGLD drop to $112.

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A Biomedical engineering graduate, Yash focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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