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Litecoin’s most recent rebound from the support level did not appear to have the support of willing buyers, with the same suggestion that a price drop was imminent. There was also a strong resistance level just above Litecoin, a level it may not be able to test in the coming days.
Polkadot was similar to Litecoin and a close below the support level could contribute to further losses for DOT. Verge also recorded higher lows, although its price was held back by the increased volatility.
Litecoin [LTC]
Source: LTC / USD on TradingView
The RSI showed that LTC was still on an uptrend as it bounced off neutral zone 50. Yet, the trading volume in recent sessions has been disappointing. Indeed, the volume has not seen an increase in buyer interest as LTC has dipped towards its support, suggesting a disagreement and that the bulls may be out.
LTC is expected to rise above $ 63, with decent trading volume on the charts, to boast a bullish outlook in the coming days.
Even then, $ 66 was an impending level of strong resistance. LTC was trading above this level in February of this year. It remains to be seen whether the Bulls have the means to breach this resistance.
A pois [DOT]
Source: DOT / USDT on TradingView
Like Litecoin, DOT’s most recent rebound was also not supported by significant trading volume.
The OBV has been on a downward trend over the past two weeks. However, in the last few days it has been headed north. The long-term trend is very often the strongest trend, suggesting that DOT may take some losses soon.
The Fibonacci retracement levels for DOT’s rise from $ 3.6 to $ 4.95 in October showed that the 50% level at $ 4.27 was a solid support level. A drop below this could bring DOT to $ 4.11.
The price also broke out of the overhead resistance at $ 4.43, but was quickly pushed back.
Verge [XVG]
Source: XVG / USDT on TradingView
The Fantastic oscillator formed a bearish twin peaks setup (orange) and signaled an impending price drop. However, the month of November saw XVG set a series of higher lows.
At the same time, the volatility of the crypto asset was high. It had posted gains of nearly 22% in a single day and a 16% drop in two days and another 22% rise in two days from the $ 0.0037 support level. This could be attributed to recent Bitcoin and Ethereum movements affecting XVG.
