698 Interactions, 2 today
Cosmos showed an upward humming momentum as it reached $10. Once again, Litecoin moved above the $150 threshold following a marginal reversal that saw its price falling to $141. Compound could see a short-term bearish situation unfolding over the next few hours.
Cosmos broke out from the falling triangle upside down and hit the estimated target of $9.7, which was the height of the triangle formation. Further to this, the recent local high of $10.2 saw heavy sales pressure to drive the price down to $9.4.
The MACD developed a bullish convergence over the zero axis, suggesting a powerful bullish support for the ATOM that could see it burst past $10.2. However, the scale of trade has yet to gain momentum. Aid amounts are $9.32 and $8.6.
On the hourly monitor, LTC had displayed a bearish difference, even though LTC pushed above $150. This sparked a correction which saw LTC dip down to $140 before resuming its upward step again.
This lower timeline suggested that the downturn had come to an end and that the bullish movement was once again in the driver’s seat. The RSI soared back above neutral 50 when the price still reached $150. The level of trade was noticeable, but not exceptional.
LTC has been trading between $123 and $180 since late December, and pushing above the 50 percent mark renders the range a medium-term target for LTC bulls.
Once again, a timeframe of 1 hour was selected for the COMP analysis. The longer timeframes display an extremely bullish digital asset that shows no sign of a retracement. However, the Amazing Oscillator was bullish on the hourly charts, though it could form a lower peak than the one recently reported.
This would offer a bearish twin peak setup and send a selling signal that could be used to scalp a short trade to the $470 area.
There is some pressure from about $500, and rejection at this psychological stage could see COMP dip to the $450 level of funding.