By recording an overall market capitalization of $334.06 billion, the crypto-verse was seen heading towards recovery. While Bitcoin’s dipped to 56.8%, several altcoins were seen prepping to endure potential slumps caused by the presence of bears in the market.
As the Litecoin community gears up for the launch of MimbleWimble, the of the altcoin witnessed dainty gains over the past few weeks. However, during the first week of September, LTC recorded a huge slump further pushing its price back into the $40 zone. During press time, the coin was trading at $48.65 with no significant change in its price.
Parabolic SAR’s dotted markers pushed LTC below a major resistance level of $54. The formation of the dotted line above the candlesticks indicated the prevention of any possible breakout in the upward direction. The Relative Strength Index was also seen lounging in the high sell-pressure zone. If bears decide to prolong their stay in the LTC market, the altcoin might dip below $40.34, which has been a strong support level for LTC.
Similar to every other coin in the crypto-verse, XMR recorded a massive drop in its price back in the first week of September. However, the coin seemed to be on its way to recovery. With a market cap of $1.48 billion, the privacy coin was trading at $83.59. However, at press time, XMR was seen plunging by 2.23%
Bears seem to be reposing in the XMR market as the MACD line has been below the signal line for a long time now. Even though the bearish crossover took place long ago, both the lines seemed like they would soon converge. The Klinger Oscillator indicator, however, hinted at the presence of bulls in the market. If bulls do take over the XMR market, the price of the altcoin could push past a resistance level at $90.
XLM began its journey downhill back in August, unlike the other coins. However, the altcoin was seen rising by 2.90% during the time of writing. XLM was trading at $0.0815 with a market cap of $1.68 billion.
The Awesome Oscillator observed a shift in the momentum, however, the bars were seen turning green after an array of red bars. The Chaikin Money Flow seemed to be headed towards the bearish territory as outflow of capital was indicated in the XLM market. If bears do take over the market, the altcoin might stoop below its critical support level at $0.064.