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Litecoin may smash through its upper limit of $258.3, but stronger bullish signals are needed to sustain higher levels. Algorand’s next goal is $1.73, while Huobi Token may stabilise at $19 or $17.3 before resuming its uptrend.
After defending the $242.31 mark for some sessions, Litecoin reclaimed it, flipped it to help, and even bounced back from it. As LTC advanced higher on the charts, there was some resistance at $258.39, and it was unknown if this amount could be broken in the coming sessions.
Trading volumes fell by 14% in the last 24 hours, but remained above $5 billion at the time of publication. As the market pushed south and towards the $242.3 stage, the MACD displayed a bearish divergence. The fast-moving level was below the Signal axis, but the histogram showed that momentum was fading.
The RSI remained steady at 58, indicating some bullish momentum in the industry. Even if a breakout occurs in the coming hours, expect increases in the Litecoin market to be small.
Algorand broke out of its horizontal channel’s upper trendline, but losses were capped by the $1.599 resistance. To fully rebound to late-February highs, the bulls must drive the market past another resistance level at $1.73.
Despite the fact that the MACD showed a bearish crossover, it was above the half-line. The ADX was pointing north, indicating that momentum on the bullish side was still building. To begin the next ascent, the newly-flipped support line at $1.44 must be protected against any bearish strain.
Huobi Token [HT]
The support level of $12.4-$12.8 halted declines in the Huobi Token market, and buying at this level has called for a bullish resurgence on the charts. The bullish rally was met with resistance at $22.3, but it remained above the $20 mark.
According to the RSI, HT needs to stabilise before resuming its upward trend. This could happen at the $19 level or even at $17.3. The Awesome Oscillator showed a bearish change in momentum, but the risk of a failure was low.