Several altcoins such as Tron, XRP, and Litecoin were moving higher as Bitcoin inched closer to the $16k level. The global market cap rose to $448 billion after an increase of 2.49% over the last day. But not all coins could be able to sustain the renewed bullish pressure.
Tron’s [TRX] progression has been slower than its peer altcoins, however, it noted a mild surge of 0.33% over the last 24-hours which drove the coin to $0.0254. It held a market cap of $1.82 billion and a 24-hour trading volume of $696 million.
The green closing bars of Awesome Oscillator depicted a bullish momentum in the coin’s price. After a period of two weeks and multiple breakout attempts, the Chaikin Money Flow breached the zero-line depicting an increase in the inflow of capital to the coin market.
With the latest traction, Tron [TRX] could now target its nearest level of resistance of $0.030 as it support stood firm at $0.022
Over the past 24-hours, XRP was up by 0.89% rising to a valuation of $0.255. At the time of writing, XRP registered a market cap of $11.57 billion and a 24-hour trading volume of $2.56 billion.
Despite the latest upside move, Klinger Oscillator underwent a bearish trend. The MACD also appeared to be heading for one in the near-term which was indicative of the bearish dominance in the coin market.
A downside market correction could trigger XRP to spiral to its immediate support level of $0.222 as its resistance remained untested at $0.294.
Litecoin [LTC] also noted an uptick of 2.73% over the last day and was priced at $61.61 while recording a market cap of $4.05 billion and a 24-hour trading volume of $2.64 billion.
The dotted markers of the Parabolic SAR aligned below the LTC candlestick arrangement supporting the token’s price from a further market downtrend. The RSI also rose well above the 50-median line depicting a sentiment of rising buying pressure among the market participants in the Litecoin market.
The increasing optimism among the investors coupled with a local top could further boost the coin’s price in the near-term in which case, it could target a jump to the long-awaited $67.10 resistance level while its immediate support stood firm at $47.02