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Compound has been in a downward spiral. FTX Token was consolidating below the $40 stage. Litecoin was showing bearish momentum and was predicted to sink to $180 in the coming hours.
The $471, $449, and $413 levels are essential for COMP, and they have been ceded to the bears over the last two weeks. The Awesome Oscillator crossed below the zero line and registered red bars on the histogram.
The Chaikin Money Flow improved above -0.05 in the most recent trading session, but the pattern has been bearish in recent weeks. This would most likely cause COMP to fall to $387, the 38.2 percent retracement stage after COMP’s surge to $573.
FTX Token [FTT]
FTT has a strong long-term base. The FTX exchange is well-regarded by traders and has a steady user base, and the growth of FTT in recent months will likely draw in more customers, particularly if Bitcoin also grows above $60,000.
In the short term, FTT was consolidating between $37 and $41, with some support at $39.4. The steady market for FTT is reflected in the OBV, which is on the rise. The RSI oscillated around the neutral 50 stage, indicating no real momentum in either direction.
The 20 and 50-period EMAs (white and yellow, respectively) developed a bearish convergence on the 4-hour map, signalling bearish momentum, and the price fell below $195. In the event that LTC begins to slip below the $195 threshold, the $195, $180, and $169 amounts will be significant over the next few days.
The $195 level has been tested as support many times in recent days, and a fall below it will indicate bearish momentum, with a jump to $180 looking possible. Lower time frames also showed rising bearish momentum as the MACD developed a bearish crossover.