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Bitcoin Dominance was at 64.5, an upward trend over the past few weeks. The altcoin markets continued to show weakness, as many crypto assets showed technically bullish developments, but the bullish movements were short-term in nature and ultimately were unable to shake off bearish pressure. Litecoin is likely to trade at $ 50 in the next few days, while Cosmos has shown a bullish divergence and could see a nearly 7% rebound. The base attention token may see a small upward movement in the next few hours before another leg down.
Litecoin [LTC]
Source: LTC / USD on TradingView
Litecoin formed an upper rectangle pattern (yellow) and closed a trading session below the pattern. This included a $ 49 LTC target in the coming days.
The $ 50 region is a high demand region and could serve as a support for LTC. A close below the $ 50 support level could bring the price up to $ 46 shortly thereafter. Similarly, if the bulls push the price above $ 53 and manage to avoid the bears, it could start a move to $ 56.
The MACD also showed bearish momentum for LTC as it formed a bearish crossover below the zero line, indicating the higher likelihood of LTC moving down in the near term.
Cosmos [ATOM]
Source: ATOM / USD on TradingView
Using the Fibonacci retracement tool, some important retracement levels have been plotted for ATOM’s $ 3.78 to $ 6.26 (white) move.
ATOM showed a bullish (cyan) divergence and it was possible for ATOM to rise to $ 4.74, the immediate upside interest level. A more conservative target for the possible ATOM hike would be $ 4.58.
However, the longer-term trend has been to the downside for the coin and a trading session closed below $ 4.3 would signal that ATOM could be poised to fall as low as $ 4 and $ 3.8.
Basic Attention Token [BAT]
Source: BAT / USD on TradingView
The base attention token lost a support level at $ 0.2 and was trading at $ 0.185 at press time.
The stochastic RSI showed that the crypt asset was about to move into the oversold region. This suggested a slight bullish pullback for BAT, which could provide short sellers with a better entry into a trade.
The OBV showed that the buying volume was getting lower and there was no decrease in bearish pressure.
