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Home Litecoin

Price analysis for Litecoin and Cardano October 28

by admin
November 1, 2020
in Litecoin
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Price analysis for Litecoin and Cardano October 28
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Litecoin breaks under $58 after testing a essential resistance line whereas ADA drops under $0.100

Whereas Bitcoin (BTC) has traded greater over the previous two days, a number of massive – cap altcoins have struggled to piece collectively the same development. Ethereum broke above $400 however is again under the extent, as is XRP that traded at highs above $0.25. Analysts say that the altcoin market will seemingly comply with BTC if the king of crypto rallies to a brand new all – time excessive above $20,000.

Litecoin and Cardano are additionally struggling on the time of writing however might rally greater if bulls maintain positive aspects at key ranges.

Litecoin worth

LTC/USD not too long ago broke above a horizontal resistance line and touched highs of $61. The cryptocurrency is, nevertheless, struggling promoting strain as liquidity rotates to Bitcoin.

For the time being,  LTC is buying and selling simply beneath a essential resistance space close to the $60 space. If bulls push from present ranges and break above the hurdle, a rally to highs close to September 1 ranges will verify a possible bull run to highs of $84.

However the brief time period image factors to a decline earlier than one other leg up.

The worth is above an inverse head – and – shoulders (H&S) sample, however the each day MACD and Stochastic Oscillator counsel a bearish divergence. If bears take management, bulls will seemingly depend on the H&S neckline at $51 for refuge.

On the time of writing, LTC/USD is buying and selling at $58, however regardless of a drawdown from highs of $61, bulls are prone to stay in management in the event that they maintain the extent.

LTC worth chart. Supply: TradingView

Cardano worth

The worth of ADA token has dropped by greater than 5% prior to now 24 hours to see it commerce at lows of $0.099.

Though bulls have hit highs of $0.103 on the day, the elevated promote – off strain signifies that ADA/USD nonetheless faces a serious resistance line that’s stopping a retest of $0.11.

The ADA/USD pair is capped on the 50 – SMA on the 4 – hour chart, and if the downward flip continues, a dip to lows of $0.098 and $0.095 might be greater than seemingly.

The technical image additionally suggests bears are fancying a retest of the 200 – SMA line at $0.0926 on the each day timeframe. If this occurs, bulls may have their work lower out if they’ve to interrupt greater.

The each day chart additionally includes a bearishly inclined MACD and RSI to counsel that the downtrend is prone to persist.

ADA/USD each day chart. Supply: TradingView

Nonetheless, bulls can retake management if a key candlestick sample types within the subsequent few periods on the each day chart. The TD sequential has printed a crimson eight and the flip might be confirmed if a crimson 9 seems.



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Live Price

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$51,523.00
3.94%
ethereum
Ethereum (ETH)
$1,650.01
0.47%
Binance Coin
Binance Coin (BNB)
$259.47
0.46%
tether
Tether (USDT)
$1.01
1.40%
cardano
Cardano (ADA)
$1.07
3.76%
Polkadot
Polkadot (DOT)
$34.63
-1.51%
ripple
XRP (XRP)
$0.474577
-0.06%
litecoin
Litecoin (LTC)
$200.74
9.63%
chainlink
Chainlink (LINK)
$28.12
2.05%
bitcoin-cash
Bitcoin Cash (BCH)
$547.82
2.13%
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