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XRP, Bitcoin Cash, Litecoin Technical Analysis on 3rd September 2020

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September started with a sense of optimism but met with a bearish pullback on the second day as the $12,000 price level has eluded Bitcoin as it lost significant ground against the USD. This, in turn, triggered a significant sell-off of major altcoins.

 Ripple [XRP]:

ripple technical analysis

XRP’s attempt to resume uptrend after reaching a crucial resistance point $0.294 was cut short as the bulls encountered extensive selling pressure. The coin slid back to the fourth position after a decline of 9.04% over the last 24-hours pulling its value to $0.272 as it held a market cap of $12.24 billion and a 24-hour trading volume of $1.793 billion.

The shift in the momentum was noted by Awesome Oscillator which depicted the bars turning red after the correction. Chaikin Money Flow was also in the bearish territory which indicated an outflow of capital from the coin market.

Should this level break, XRP’s $0.260 remains critical support.

Bitcoin Cash [BCH]

bitcoin cash technical analysis

Bitcoin Cash [BCH] sustained 9.41% losses over the past day causing a price drop to $262.45 while recording a 24-hour trading volume of a $1.9 billion and a market cap of $4.857 billion.

With the bears aggressively defending the resistance level of $292, an upside break does not seem likely in the near future. This was also depicted by the Klinger Oscillator and MACD which underwent a bearish crossover and signs of trend reversal appeared bleak.

If the BCH/USD pair fails to rebound the current trading levels, it could sink close to its immediate support at $222-price level.

Litecoin [LTC]

litecoin technical analysis

Despite declining by 8.52% over the past 24-hours, Litecoin [LTC] have managed to retain its price above the $53 support level. At the time of writing, the coin was valued at $57.38 with a market cap of $3.75 billion and a 24-hour trading volume of $2.706 billion.

An upsurge to its overhead resistance level of $62 was severely resisted by the dotted markers of Parabolic SAR which continued to remain aligned above the LTC candlesticks. An increasing sentiment of sell-off was evidenced by the RSI which dropped below the 50-median neutral line.

Ethereum, Litecoin, Tron Technical Analysis on 31st August 2020

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The cryptocurrency market is, currently, in a pivotal position. After closely following Bitcoin‘s price movement, several altcoins posted significant gains breaching crucial resistance points over the week. However, bearish reversal edges closer for a few coins.

Ethereum [ETH]

ETH 6 e1598864392234

Ethereum [ETH] has managed to resume an uptrend after surging past a crucial overhear resistance of $400. In addition, the largest rose by 3.87% over the past 24-hours to a price of $421.01 while registering a market cap of $47.32 billion and a 24-hour trading volume of $12.015 billion.

Following the latest upward price movement, both MACD and Klinger Oscillator appeared to be gearing up for a bullish crossover. The coin found significant support at the $385.9-level. A sense of optimism among the options traders rose as ETH rallied past the crucial resistance point. This was evidenced by the rising open interest with respect to Ether options.

If the upside momentum continues, ETH is likely to approach its immediate resistance at $439.

Litecoin [LTC]

LTC 7 e1598865794414

Despite retreating close to its support level of $54.12, Litecoin [LTC] made a strong recovery which propelled a positive change of 5.26% over the past 24-hours driving its price to $61.34. At the time of writing, its market cap stood at $4.008 billion with a 24-hour trading volume of $2.882 billion.

The small green closing bar signaled towards a potential bullish momentum in the coming days. Chaikin Money Flow also depicted an inflow of capital in the coin market. If this trend persists, the coin could target an important overhead resistance of $67.27. However, if the bullish momentum fades, its psychological support of $50.00 will come into view.

Tron [TRX]

TRX 5 e1598866526153

Tron [TRX] has risen over 98% since the beginning of the year. After a minor decline of 1.58% over the last 24-hours, TRX dropped to $0.026 while recording a market cap of $1.867 billion and a 24-hour trading volume of $854.9 million.

The coin recently recorded a two-year high after it climbed to $0.0304 which now acted as a crucial resistance point for the coin. However, the upside momentum appeared to have dwindled. This was evidenced by the dotted markers hovering above the TRX price candles resisting an upward break. Furthermore, the RSI noted a bearish divergence. This indicated that despite a positive price trend, a reversal to the downside is likely.

The sell-off may extend towards the support of $0.0230. If this breaks, TRX’s next focus should be on $0.0154-level.

Chainlink, Litecoin, EOS Technical Analysis on 16th August 2020

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The collective cryptocurrency market appeared to be in a consolidation phase. The market cap was registered at a whopping $373 billion, a level unseen since May 2018. While Bitcoin has faced multiple rejections at the coveted $12k-level, several altcoins have, however, sprung up in action.

Joining the bandwagon are coins such as Chainlink [LINK], Litecoin [LTC], and EOS, which have witnessed a substantial rise in their values over the last 24-hours.

Chainlink [LINK]

chainlink technical analysis

Chainlink has been in the spotlight for quite some time now and has been one of the best-performing assets among the top coins. As the weekend dawned, LINK soared to a new all-time high. Meanwhile, it recorded a surge of 13.21% over the last 24-hours which catapulted its value to $18.93 at the time of writing.

Moreover, it registered a market cap of $6.64 billion along with a 24-hour trading volume of $2.538 billion.

As the fifth-largest altcoin continued to build on gains, the green closing bars of Awesome Oscillator indicated a positive course for the coin’s price in the near-term. Further exhibiting a bullish trend was the Chaikin Money Flow indicator as it hovered in the bullish territory.

Litecoin [LTC]

litecoin technical analysis

Over the past year, Litecoin fell to the eighth position. After subsequent downfalls, LTC appeared to be slowly moving ahead and targeted a local top. At press time, the cryptocurrency noted a market cap of $4 billion with a 24-hour trading volume at $3.28 billion. LTC was being traded at $61.41 and was up by 6.91%.

The indicators failed to back up the latest surge in the coin’s valuation. This was evidenced by the bearish Klinger Oscillator. After a brief tryst with the bears, the MACD appeared to be heading for a bullish crossover.

EOS

EOS technical analysis

Despite not much significant developments on the tech side, EOS was the second-best performing asset in the last 24-hours among the top 20 coins, trailing behind LINK. It was up by 11.12% over the last 24-hours which drove its price to $3.75, at the time of writing. Furthermore, EOS recorded a trading volume of $5.12 billion over the past day while its market cap stood at $3.50 billion.

The dotted markers of Parabolic SAR hovering below the EOS candles depicted a bullish phase for the tenth-largest coin. Following the latest upsurge, the Relative Strength Index [RSI] shot up to the overbought region. This could essentially lead to a decline in demand among the traders of the coin with a subsequent decline in its price in the near future.