Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bullish phase in the offing as coins rally
The collective crypto-market climbed to a market cap of $176.6 billion, propelled by the latest surge on April 15. The king coin, Bitcoin [BTC], rallied by 2.09% while Litecoin [LTC] surged by 7.83%, over the past 24 hours.
At press time, BTC held a market cap of $91.41 billion and was priced at $5,181. The cryptocurrency registered a 24-hour trading volume of $10.82 billion. Its silver counterpart and the sixth largest coin on CoinMarketCap, LTC, held a market cap of $5.12 billion and a 24-hour trading volume of $2.51 billion. The crypto-asset was valued at $83.60.
1-day BTC chart
BTCs one-day chart exhibited a downtrend from $6,451 to $5,309, along with a small uptrend from $4,194 to $5,104. The supports for the crypto-asset were found at $4,036, $3,789 and $3,469, while the immediate resistances were found at $5,654 and $6,467.
Bollinger Bands: The diverging bands of the indicator predicted increasing volatility for the gold cryptos price.
Awesome Oscillator: The closing bars of the indicator were red and continued to draw a bearish picture for the coin.
Chaikin Money Flow: The CMF was above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish price pattern for BTC was predicted.
1-day LTC chart
The candlestick arrangement for LTCs one-day chart projected two uptrends from $32.90 to $45.68, and from $45.68 to $60.31, followed by a minor correction. Another uptrend from $61.17 to $78.49 was registered, following which the coin climbed over the $80 mark. A minor downtrend from $56.52 to $34.60 was also recorded.
A potential price break was anticipated at press time, one that may push the coin over the $90 mark. The support points for LTC stood firm at $56.70 and $41.93.
Parabolic SAR: The dotted markers were below the candlesticks, suggesting a bullish phase for the silver crypto.
MACD: The MACD line was below the signal line, indicating a bearish trend formation for the silver coins valuation.
Klinger Oscillator: The reading line was also below the signal line and depicted a bearish phase for the coin.
BTC continued to exhibit minor highs with persistent volatility while Litecoin soared by 7% over the past 24 hours. However, the silver coins market was turning bearish over the last few trading cycles.Read full story on AMBCrypto