Litecoin, Zcash, Compound Price Analysis: 16 December

Spread the love

As the value of Bitcoin went past $20k, many of the market’s altcoins were also seeing their price rise on the charts. The performance of Litecoin, Zcash, and Compound did not witness major uptrends but registered positive gains.

Litecoin [LTC] 

The Litecoin daily chart indicated the sideways movement of the digital asset during the course of the past few days. Although there have been spurts of growth the price has remained between $67.83 and $91.58.

The Parabolic SAR indicator noted bearishness as the markers had aligned above the price bars, indicating a downward pressure.

Zcash [ZEC]

 

Source: ZEC/USD on TradingView

The ZEC price chart highlighted how the price tested the immediate resistance at $73.40 but has not managed to breach it. It has currently taken the support at $65 and has been trading at around $68. The value bounced back from this point and has been trying to stay above.

Whereas the Relative Strength Index was at an equilibrium state, indicating that the buying and the selling pressures had evened. This meant that the price may consolidate further between $65 and $73.

RECOMMENDED READ:  QE Infinity: US Fed to Keep Rates at Zero, Billion-Dollar Bond Purchases Until Economy Recovers

Compound [COMP]

 

Source: COMP/USD on TradingView

Compound’s market has surpassed the resistance at $137 and managed to hold its price above this point. The current value of the digital asset was $160.90 as the price consolidated between $137 and $160. The next resistance for the coin is around the $189 price level. As the value of the digital asset moved further, the market seemed to be gaining strength.

This strength in the market was highlighted by the Chaikin Money Flow indicator. The CMF moved above the zero-line which was a sign that the money was moving in the market and not out of the market.

 536 Interactions,  2 today

READ ALSO:
Chainlink, IOTA, Zcash Price Movement Analysis for 7th April, 2021

Bitcoin, the world's biggest blockchain, has recently been at the tail end of a quiet market, with its newest attempt Read more

BAT, Tezos, Zcash Price Movement Analysis for 31st March, 2021

The majority of the altcoin industry was that as a result of Bitcoin's turnaround and recent attempt to break through Read more

 Alogrand, Binance Coin, Zcash Price Movement Analysis for 29th March, 2021

At the time of publication, Dash was trading at $214.5-resistance. Tezos pointed at a potential upward breakout from $4.5. XRP Read more

Chiliz , Monero, Zcash Price Movement Analysis for 27th March, 2021

Breakdown on Chiliz could highlight support levels at $0.29 and $0.156. Monero continued its rangebound movement between $239.4 and $215. Read more

Cosmos, Tron, Zcash Price Movement Analysis for 25th March, 2021

With Bitcoin holding itself above its critical horizontal support in the $51k-$52k region, the bearish outlook for altcoins in the Read more

SUSHI, XRP, Zcash Price Movement Analysis for 23rd March, 2021

Although Bitcoin's presence on the broader altcoin industry remains as strong as it has always been, it is not universal Read more

Stellar Lumens, VeChain, Zcash Price Movement Analysis for 21st March,2021

Following the movement of market leaders Bitcoin and Ethereum further into the red zone, the wider altcoin market followed suit Read more

Monero, IOTA, Zcash Price Movement Analysis for 19th March, 2021

Monero saw some investor indecision around the $230 mark, when the price slipped and jumped around this amount. IOTA was Read more

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

Litecoin's price has started to decline, and a split below the 200-SMA would almost definitely result in a decrease to Read more

Chainlink, Cosmos, Zcash Price Movement Analysis for 14th March, 2021

Chainlink's brief recovery of more than $28.5 was immediately denied by the sellers, who were targeting the above level at Read more

Leave a Reply

Contact Us