The digital asset industry is not under a cohesive bull rally anymore. Over the past week, major crypto assets have been observed to follow their own trends in the charts. With Bitcoin recently rising above $11,500, altcoins’ response in the market was rather timid. With doubts over a bull market continuing to fade, Bitcoin, Litecoin, and Chainlink’s market were evaluated to understand industry patterns.
With Bitcoin Cash, the common consensus in the market is that it follows Bitcoin in the charts. However, whereas Bitcoin has surged 1.12% over the past day, BCH entertained a decline of 3.32% The forked BTC crypto exhibited a market capitalization of$5.7 billion as the price of token remain at $308.
For Bitcoin Cash, the MACD line is bullish at the moment but as the orange line closes in, there is a chance the bears will dominate the market in the near future. Awesome Oscillator also suggested diminishing momentum for the bulls at the time of the press.
In the meantime, Bollinger Bands appeared to converge, so volatility might fall for the BCH token going forward.
Litecoin is another token facing the bears at the moment. Although the Parabolic SAR indicator appeared to be bullish for Litecoin, Relative Strength Index or RSI is on a decline with respect to the price. Litecoin is valued at $58.42 but its trading volume shows active interest with $2.29 billion. Market Capitalization for LTC is $3.81 billion.
With capital coming in dominating capital going out, according to the CMF indicator, there is a chance Litecoin will be reversing its trend in the short-term. For Litecoin, the support is currently at $54 and the resistance is just above $60.
Clocking in the best performance in the market for the day, Chainlink seems to be on its own bullish trend since the start of July. the growth of LINK tokens has been commendable as the asset recorded a 7.74% jump in the past day.
LINK also reached $10 in the charts, after being worth under $5, just a few weeks ago. The chart in the above analysis indicated a market on the rise for LINK. Aroon indicator is estimating a bullish momentum in the chart, with CMF confirming the growth of capital coming in. Lastly, Parabolic SAR maintained position under the candlesticks, with the bulls taking charge of LINK’s price.