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The Crypto Fear and Greed Index was recording a figure of 90 at the time of writing, expressing a sentiment of extreme greed in the market. Litecoin and NEM reflected this bullish sentiment as they formed bullish patterns on their charts and found strong buyer interest behind their price hike. Verge, on the other hand, has noticed an increase in bearish momentum in the near term and may drop below its support level.
Litecoin [LTC]
Source: LTC / USD on TradingView
Litecoin has formed an ascending wedge on the chart (orange). With a strong resistance level at $ 66, it was likely that LTC would see a pullback to the $ 58 support before another move to the upside.
LTC was relatively quiet until the end of October when it moved from $ 45 to $ 59. Since then, the crypto asset has been heavily bullish. The OBV showed that there was good buying volume behind the price increase, giving legitimacy to the gains.
A rise above the resistance level at $ 66 and a close above the pattern would invalidate the ascending wedge premise. If so, it is possible for LTC to flip the resistance to support and move further north.
NO [XEM]
Source: XEM / USD on TradingView
The price of XEM was moving within an ascending (white) channel. A bearish divergence was highlighted in the charts that occurred a few hours ago.
The price hit higher highs as a momentum indicator (RSI) underlined the decline in bullish momentum. This accompanied a correction from $ 0.139 to $ 0.131, a change of 4.5%.
However, the outlook for the crypto asset was still bullish at press time. It continued to record higher lows and the RSI remained above 50 to denote an ongoing uptrend.
Verge [XVG]
Source: XVG / USDT on TradingView
The resistance level at $ 0.0048 has held up since the beginning of September. Like many other altcoins, XVG also faced difficulty breaking through a level of importance lost in the steep drop in the first week of September.
In the short term, momentum appeared to have shifted to the bearish side. The MACD formed a bearish crossover a few days ago and, at the time of writing, was just below zero, indicating a strong sell signal.
The CMF it also showed that capital outflows from markets were slowly increasing and could obscure capital flows into the market. Ergo, it’s possible that XGV could drop in the demand region to $ 0.0042.
