Bitcoin [BTC] v. Litecoin [LTC] Price Analysis: BTC continues to tussle with the bear as LTC climbs

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Bitcoin [BTC], the world’s largest cryptocurrency, was priced at $7,971.49, at press time. The king coin maintained a market dominance of 55.50%, with a market cap of $141.45 billion. BTC recorded a notable jump of 1.67% over 24 hours, with its 24 hour trading volume recorded at $21.16 billion.

Litecoin [LTC] was valued at $112.79, bouncing by 7.97% over 24 hours. LTC had a market cap of over $7 billion, at press time.

1-day BTC

Bitcoin recorded two uptrends, from $4,080.29 to $8,152.56, and from $8,178.83 to $8,756.83. Support was positioned at $7,640.51 , with resistance at $8,811.96.

Source: TradingView

Bollinger Bands suggested that the bands were converging, indicating reduced market volatility.

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

MACD showed a bearish market for the king coin as the MACD line was below the signal line.

1-day LTC

The resistance for LTC stood at $116.92, with support positioned at $101.26. LTC saw three basic uptrends, first from $39.65 to $93.17, second from $91.60 to $101.76, and the last from $103.32 to $116.21.

Source: TradingView

Source: TradingView

Relative Strength Index revealed that the buying pressure was marginally higher than the selling pressure in the market.

Chaikin Money Flow proposed that the capital streaming into the market was more noteworthy than the capital streaming out of it.

Awesome Oscillator pointed towards decreasing market momentum.

Conclusion

Bitcoin [BTC] continued to flirt with the $8,000 mark and noted a bearish market trend, while Litecoin [LTC] recorded largely bullish signs.


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