Litecoin [LTC] was overtaken by Bitcoin Cash [BCH] on CoinMarketCap after market correction forces followed a week of price surges and coin market consolidation.
At press time, Bitcoin [BTC] held a market cap of $90.29 billion and was priced at $5,117. The crypto registered a 24-hour trading volume of $12.64 billion and rose by 1.64% over the past 24 hours.
Litecoin [LTC], the fifth largest cryptocurrency, held a market cap of $4.89 billion and a 24-hour trading volume of $2.67 billion. The crypto-asset was valued at $79.85 and gained by 2.23% over the past 24 hours.
1-day BTC chart
BTC’s one-day chart exhibited a downtrend from $6,451 to $5,309, along with a small uptrend from $4,194 to $5,109. The supports for the crypto-asset were found at $4,036, $3,789 and $3,469, while the immediate resistances stood at $5,654 and $6,467.
Bollinger Bands: The mouth of the bands was open and predicted increasing volatility for BTC’s price.
Awesome Oscillator: The closing bars of the indicator were red, projecting bearish activity for the coin.
Chaikin Money Flow: The CMF was above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish price pattern for BTC was forecast.
1-day LTC chart
The one-day LTC chart exhibited two uptrends from $32.90 to $45.68 and $45.68 to $60.31, followed by a minor correction. Another uptrend from $61.17 to $79.10 was registered. A minor downtrend from $56.52 to $34.60 was also noted.
The coin continued to fall back below the $80 mark. However, another potential price break was anticipated, one that may push the coin over the recently surpassed $90. The support points for LTC stood firm at $56.70 and $41.93.
Parabolic SAR: The dotted markers were below the candlesticks, suggesting a bullish phase for the silver crypto.
Klinger Oscillator: The reading line was below the signal line and projected a bearish course for LTC’s price.
MACD: The MACD line was also below the signal line after a bearish crossover.
Bitcoin’s valuation continued to project high volatility and oscillated between bullish and bearish patterns, unlike Litecoin, which sided with the bear.
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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.