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Litecoin (LTC) and Cardano (ADA) are both extremely interesting charts to focus on during this phase of the general market of the complex cryptocurring bears at stake.
The bear is growling, but the sentiment is also worsening to levels that may not allow much more to the downside, since weak positions disappear from the market. Now, our task is to look ahead and identify the key levels that could define the next pivot that establishes the graphic reference for future support.
Litecoin (LTC) [19659003] Price analysis
- High: $ 67.551
- Low: $ 65.184
- Volume 24 hours: $ 304.98M
- Percentage variation of 7 days: -13.87%
One of the most important levels came into play last night at around $ 65 level. As we have tried, we have put into play a very clear divergence of momentum defined by a bullish comparison on the 14-day RSI in terms of readings taken at the end of June compared to what we are now seeing on the chart.
In other words, the Litecoin (LTC) chart is defined by the last sales pressure even if sales are coming to lower levels.
Although we can hardly make promises – and this is not, in fact, our intent – we can say that the benefit of experience suggests that this type of divergence is the kind of thing you see during the phases successive of a bearish move, suggesting the possibility of a rebound in play in a short time for Litecoin (LTC).
Cardano (ADA)
Price analysis
- High: $ 0.12384
- Low: $ 0.11454
- 24-hour volume: $ 63.22 M
- 7-day Percentage variation: -12.79%
Like a number of coins, Cardano (ADA) is one who managed to stay slightly above of the lows at the end of June. This strangely distinguishes it as a minor point of relative strength compared to many other large coins with market capitalization.
Clearly, the most important level that can come into play is $ 0.11. If we see that price, we are seeing new lows of 2018, and the possibility of a broader allocation and follow-through to test the lows put in place at the beginning of December last year at around $ 0.08.
Although this may seem a long way off, at the rate at which the complex is deteriorating at this time, it may not be that far away. And, although it may seem like a non-intuitive idea, a very rapid move from here to that level of Cardano (ADA) could actually provide the best timing distribution over time, given the possibility of an emotional process of selling the climax. .
the process would probably trigger massive distortions in the main oscillators in both the daily and time intervals, putting in place a possible serious chapter level that could serve as a reference for the new campaigns on the long side of Cardano (ADA). [19659003] Happy Trading ~
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Disclaimer: This article should not be taken as and is not intended to provide investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer
Image courtesy of Pexels
Charts courtesy of tradingview.com
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