Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC and LTC bulls defend position

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Bitcoin, the king of all cryptocurrencies was priced at $8,049.86 with a 0.98% 24-hour change and $25.61 billion in 24-hour trading volume, at press time. With a market cap of $142.61 billion, Bitcoin continued on its bullish path.

Litecoin was priced at $103.34 with 8.56% growth over the 24-hour change cycle and $6.12 billion was the 24-hour trading volume. Litecoin was ranked fifth with a market cap of $6.39 billion.

1-Day BTC

Bitcoin saw an uptrend from $3,959.01 to $8,146.31. The two resistance lines stood at $8,197.57 and $7,220.63, along with the three support lines at $5,026.28, $3,742.69 and $3,373.01.

Bollinger bands depicted an increase in the volatility of the market.

Awesome Oscillator showed a consistent rate of growth above the zero-line, supporting the short-term momentum as it became greater than long-term momentum. As the last three lines were red, a bearish swing was in the offing.

Chaikin Money Flow indicator line was just below the zero-mark, indicating that money was flowing out of the market.

1-Day LTC

Litecoin [LTC] saw three uptrends, from $38.91 to $92.15, $92.37 to $102.17, and $102.62 to $103.51. Resistance lines stood at $61.19 and $102.40 as the support lines were at $41.36 and $29.78.

Soure: TradingView

Soure: TradingView

Parabolic SAR indicator displayed a bearish trend in the market as the markers were above the candles.

Moving Average Convergence/Divergence [MACD] showcased a bullish crossover as the MACD line crossed above the signal line.

Relative Strength Indicator presented a high buying pressure as the indicator line was positioned at 65.11.

Conclusion

Bitcoin and Litecoin are projected to be in bullish territory by the indicators.


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