Litecoin attempted to reclaim the level above $197.18 and could surge towards its $207.4-resistance in a bullish outcome. Augur gave mixed signals as the price closed in on the upper ceiling at $44.37 while Verge cooled-off from its local high and moved towards the $0.037-support.
A look at the 4-hour charts for Litecoin showed a recovery in progress after the price rose north from a strong support line at $170.3. At the time of writing, the price was attempting to flip yet another resistance line at $197.18, and successfully doing so would likely push LTC towards $207.4.
The RSI pointed north from over 60 and underlined bullish strength in the market. Conversely, the Awesome Oscillator registered two red bars and noted a switch of momentum to the bearish side, lending some uncertainty to a favorable scenario.
While Augur showed clear bullish movement over the last 24-hours, the appearance of a bearish spinning top on the 4-hour timeframe hinted at exhaustion. The RSI flattened in the overbought region as the price approached the $44.37-resistance. A reversal in the same could see REP move closer to its immediate support at $39.9.
To counter a bearish argument, the MACD line continued to move above the Signal line and the half-mark. Trading volumes jumped by 100% at the time of writing and clocked in at $114.9 million.
A drop of nearly 5% in the last 24-hours saw Verge retrace from its local high after a bullish rally over the last five days. The Parabolic SAR registered a single dotted mark under the price candles, but one that signaled a shift of trend for the cryptocurrency. The Stochastic RSI also hinted at a pullback after it reversed its trajectory from the overbought zone.
A dip below the $0.037-level could lead to additional losses towards the next line of defense at $0.03. If the losses are sustained at the press time support, expect XVG to resume its uptrend over the next few sessions.
Sign Up For Our Newsletter
Published at Tue, 30 Mar 2021 20:00:33 +0000