Bitcoin [BTC] vs Litecoin [LTC] Price Analysis: King coin sees bearish pressure as LTC rides the bull wave

click here to see original post

Bitcoin was priced at $8,004.45, with a market cap of $141 billion. The 24-hour trade volume came up to be $21.4 billion, out of which Negocie Coins contributed 9.50% via the BTC/BRL pair. BTC saw a drop of 0.06% in the past 24 hours, at press time.

Litecoin was priced at $101.74, with a market cap of $6.3 billion. The 24-hour trade volume amounted to $4.26 billion, out of which Coineal contributed 11.86% via the LTC/BTC pair. LTC saw a drop of 0.47% in the past 24 hours, at press time.

1-day BTC

Source: TradingView

The one-day chart of BTC showed an uptrend from $4,733.50 to $8,203.32. The support points were at $3,157.69, which was tested in December 2018, and $4,863.86, which was tested multiple times in April 2019. The strong resistance was at $8,209.91.

Parabolic SAR indicated a bearish trend as the dotted markers were above the candles.

Awesome Oscillator showed a decrease in momentum as the red bars were projecting a bullish buying opportunity.

Klinger Oscillator displayed a bearish trend.

1-day LTC

Source: TradingView

The one-day chart of LTC showed an uptrend from $55.88 to $102.26. The support points were at $22.64, which was tested in December 2018, and $29.82, which has been tested multiple times in the past. The point of correction was at $103.48.

The MACD indicator showcased a bullish crossover as the MACD line was above the signal line.

Relative Strength Index showed an increased buying pressure as the graph was close to the overbought zone, indicating a relatively bullish phase.

Awesome Oscillator was presending a bullish buying opportunity.

Conclusion

The one-day chart of BTC showed an overall bearish trend, as indicated by the aforementioned respective indicators, while the one-day chart of LTC displayed a bullish trend by the indicators.


Follow us on Telegram | Twitter | Facebook


Don’t Miss

Crypto Lark applauds CoinGecko’s latest roll out ‘trust score’ to keep tabs on fake volumes

Rishi Raj

Mastered the colonial language, inspired by music and places, crypto geek. Fries on mind 24/7, believes that Romeo and Juliet could have worked things out.

Share !