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.

RECOMMENDED READ:  What is  Asian session and  Why does it hold the key to Bitcoin's price drop?

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.

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.

 390 Interactions,  2 today

READ ALSO:
Privacy coins at brink: finding balance between users interest and regulators’

Will privacy coins be best handled to please both law enforcement and those who want the greater anonymity they provide? Read more

Value of privacy coins going down after Bittrex delisted

Monero (XMR), Zcash (ZEC), and Dash (DASH) are all down double-digit percentages after the news that the U.S. cryptocurrency exchange Read more

KogoCrypto Market Analysis of Bitcoin Cash, IOTA, Zcash, December 29th 2020

Ethereum and Bitcoin have made some losses over the last few hours, and so have many altcoins. Bitcoin Cash has Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us

%d bloggers like this: