Litecoin, Uniswap, Zcash Price Movement Analysis for 16th March, 2021

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Litecoin’s price has started to decline, and a split below the 200-SMA would almost definitely result in a decrease to $181 support. UNI has moved within a down channel, but support at $28.6 may provide some resistance from buyers. Finally, ZEC was predicted to remain confined below the $140.3 resistance mark in the coming sessions.

Litecoin [LTC]

Source: LTC/USD, TradingView

As Litecoin changed course after breaking through the $220.4 resistance level, the dotted markers of the Parabolic SAR moved below the candlesticks. LTC has now lost more than 12% in the last three days, as it has dropped below the $204.9 support mark.

Lower lows on OBV have confirmed the recent selling pressure. Optimism stemmed from the candlesticks’ ability to climb above the 200-SMA (green) and stop a prolonged sell-off towards the $181 mark. An increase in 24-hour trading rates, which totalled more than $5 billion, was also a positive indicator.

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Uniswap [UNI]

Source: UNI/USD, TradingView

Uniswap relocated within a descending channel after sellers stopped a turnaround towards record highs, resulting in weekly losses of more than 13%. Momentum skewed heavily to the bearish side, as illustrated by the red bars of the Amazing Oscillator. If the bulls can provide some counter-resistance at $28.6 support, the next line of defence at $25.1 will be a more likely goal for some purchasing action.

A bullish convergence in the Stochastic RSI signalling that the market could be effectively cushioned at its press time support, and that a sustained sell-off was impossible in the short term.


Zcash [ZEC]

Source: ZEC/USD, TradingView

As the price of Zcash fell below $140.3 support, a bearish twin peak setup on Awesome Oscillator signalling the new losses in the industry. The index did return to green, however, as ZEC aimed for a resurgence above the aforementioned mark. CMF demonstrated that capital inflows could have aided the bulls in recent days, but the index was down again at the time of publishing.

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Nonetheless, the bulls faced a tough challenge in breaking through their press time resistance, which coincided with the 200-SMA (green) and the 50-SMA (blue). The 24-hour trading rates were indeed insignificant, which did not contribute to a bullish result. In the short term, ZEC is expected to fall below its long-term moving average. A drop towards $124.4, on the other hand, could offer some trading opportunities for traders.

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