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With Bitcoin moving back around $35,000 at the time of writing, pessimistic sentiment persisted in the market for the majority of altcoins. Similarly, cryptocurrencies such as Litecoin, Tron, and Uniswap have paused their recovery efforts and are looking to revisit certain support levels on their own charts.
Levels indicated in a prior study were brought back into focus when Litecoin fell by 11% at the time of writing. LTC’s losses were kept above $164.36-$160 during prior falls in March, and keeping this defensive line might contribute to a price increase in the future. In the event of a collapse, LTC would most likely test the $121.45-support level — an area that has recently received attention following the latest crypto-dump. Bulls in the market must aim for a move over $216.58 in order for the market to recover quickly.
Before LTC bulls regained lost territory, the MACD showed a bearish crossing, indicating additional southerly movement. The RSI was approaching 40, but a recovery would prevent a protracted negative conclusion.
Tron’s 4-hour chart fell below its 20-SMA (red) and 50-SMA (yellow) following a failed breakout attempt above $0.085. Surprisingly, the SuperTrend Indicator still displayed a buy signal at the press time price, but with a stop-loss at the $0.067-support. If that zone is crossed, Tron will struggle to rebound in the next sessions.
With the ADX falling steadily over the past four days, the market was getting increasingly directional. This also thwarted a breakout attempt, as TRX’s increase from $0.055 to $0.085 lacked the tenacity to trend upwards. TRX might revert to $0.055 if it breaks through its press-time support.
Even while Uniswap fell 10% in the previous 24 hours, its losses were not as severe as those of several other alts. A peek at its chart revealed that the bulls had significantly more wiggle room between $23 and $24 before trying a recovery. In the event of a breakdown, further places of defense were located at $19.6 and $14.4. A northward rise over $30, on the other hand, may result in a 35% increase towards its 200-SMA (around $35).
The Squeeze Momentum Indicator, on the other hand, appeared to be pointing to another negative run. A sell signal would be presented by the initial red bar followed by a light dot, resulting in protracted losses. The bearish crossover of the MACD signaled yet another shift in market dynamics.