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Many altcoins in the industry have a high association with Bitcoin. Bitcoin was priced at $52,593 at the time of publishing, with a 0.3 percent price rise in the previous 24 hours.
Altcoins such as IOTA, Litecoin, and Polkadot have also seen bearishness fade over the same time span and are now trending upward on their respective price charts.
IOTA was trading at $1.44 per token, with a market capitalisation of more than $4 billion. The coin has been trading largely horizontally for the past few weeks, but this pattern seems to be shifting at the time of publishing. At the moment, there is increased bullish traction in the IOTA market, and the coin can head towards its immediate resistance around the $1.87 price point. At $1.26, the coin already has solid support and has been tried and checked several times.
Technical indicators, on the other hand, seemed bearish at the time of publication. The MACD indicator made a bearish crossover, and the Stochastic indicator remained just below the oversold level. This may mean that a trend turnaround is underway, and IOTA will undergo a short-term price correction.
Litecoin is currently recovering from the severe bearish pressure it experienced between March 21 and March 25. The coin was priced at $176 and has a market capitalisation of more than $11 billion. If the upward market action proceeds, LTC will quickly come into touch with resistance at $209. There is still resistance about the $243 mark, although it is doubtful that LTC will surpass that price range in the coming week. If the bears take charge again, there are two good supports at $162 and $137.
The MACD predictor made a bearish convergence, and a turnaround does not seem possible in the near term. The RSI seemed positive and is now heading away from the oversold zone and towards the neutral zone.
Polkadot is reportedly ranked sixth on CoinMarketCap, with a price of $30.7. The coin’s current selling price is close to the support at $28.3, and if the price drops lower, there is still sufficient support in the 21.1 mark. DOT’s price rose by 1.7 percent in the last 24 hours, and if the uptrend persists, DOT may quickly face opposition near the $41.1 price point.
EMA ribbons have now stabilised just above the coin’s selling price and are likely to give some opposition to the coin’s upward price trend. The MACD predictor detected a bearish crossover as the signal line crossed the MACD line.