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You are here: Home / News / Altcoin News / Litecoin, Tron, XRP Technical Analysis on 8th September 2020
Litecoin, Tron, XRP Technical Analysis on 8th September 2020

Litecoin, Tron, XRP Technical Analysis on 8th September 2020

September 8, 2020 by Reena Shaw

The collective cryptocurrency market cap stood at $329 billion at the time of writing. Bitcoin and its peer altcoins were observed to be in a consolidation phase oscillating within a tight range before a potential breakout on either side.

Litecoin [LTC]

LTC 1 e1599546107464

Litecoin has crashed significant support levels following multiple pullbacks was now priced at $48.40 after a minor surge of 1.48% over the last 24-hours. At the time of writing, it recorded a market cap of $3.165 billion and a 24-hour trading volume of $2.627 billion.

The dotted markers of Parabolic SAR hovering above the LTC price candles resisted an uptrend to its immediate resistance at $58.9. The RSI was in the negative region depicting a sentiment of high sell-pressure in the market. If the bearish trend persists then bulls might have a thought time defending the support level of $40.16.

Tron [TRX]

TRX 1 e1599547899193

Tron [TRX] posted significant gains over the past day soaring by 5.03%. However, its rebound level fizzled out at $0.0321 as it held a market cap of $2.302 billion and a 24-hour trading volume of $2.605 billion.

The red closing bars of Awesome Oscillator was indicative of bearish momentum in the TRX market. Chaikin Money Flow was also below the zero-line depicting the outflow of money from the coin market. A sign of bullishness gaining traction appeared bleak as TRX failed to hit its overhead resistance of $0.0347. The coin firmly held its support at $0.022.

XRP

XRP 2 e1599548281701

After sliding to the fourth position, XRP has been making slow strides to breach overhead resistances. The coin rose by a minor 1.37% pushing its price to $0.2409. It registered a market cap of $10.84 billion and a 24-hour trading volume of $2.41 billion.

After a bearing crossover, the signal line of MACD continued to dominate its fate. However, Klinger Oscillator painted a conflicting picture as it appeared to undergo a bullish crossover.

Despite several attempts, the toke has so far failed to surpass the crucial $0.268 level of resistance. If the trend does not undergo a bullish revival, XRP could retest a crucial support point at $0.22, a level unseen since the last week of July.

Filed Under: Altcoin News, News, Tron News Tagged With: Litecoin (LTC), Ripple (XRP), TRON (TRX)

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