Litecoin, VeChain, Ethereum Classic Price Analysis
Litecoin has struggled to break past its current resistance and sellers have pushed prices towards support at $ 133.03. VeChain retested $ 0.026 and moved lower as buyers struggled to maintain price control as ETC traded in a tight channel and relied on broader market indices to move up.
Litecoin [LTC]
Source: LTC / USD, TradingView
Most of Litecoin’s gains since the start of the month were canceled after the correction of Bitcoin has dragged LTC towards its support of $ 124.7. In fact, LTC’s over 22% weekly drop was the highest among the top 10 cryptocurrencies by market cap. At the time of writing this article, LTC’s price is trading between $ 133.03 and $ 150.2 and looks bearish. On the flip side, a wider market rally could raise its price above the upper cap and push it towards $ 155.5.
the Relative Strength Index s’ was moving away from the neutral zone, a sign that the price was bearish.
the Bollinger Band s indicated that the price could remain limited in the coming sessions as the bands were compressed.
VeChain [VET]
Source: EFP / USD, TradingView
After a break in the $ 0.026 resistance, VeChain retested the level once more. For now, the sellers seemed to be in control and the price returned to its support of $ 0.024. On the other hand, a bullish scenario could see prices heading towards the next resistance mark at $ 0.030.
While the awesome Oscillato has recorded two points of decline, it indicated a potential shift in momentum towards the bearish market.
Finally, Chaikin Silver Flows suggested that capital inflows could prevent prices from falling below their level. current support.
Ethereum Classic [ETC]
Source: ETC / USD, TradingView
At the time of publication, Ethereum Classic is was trading at $ 7.43, up 1.48% in the past 24 hours. Despite moving into green territory, ETC has been largely uneventful in recent days. Prices traded between a thin channel of $ 9.66 and $ 8.34, with momentum not relying on the bulls or bears. The period of inactivity could perhaps be justified by weak growth of market leaders BTC and ETH, since the correction. A broader market trend could set a way forward for ETC, but for now, prices may continue to trade in their current channel.
the MACD was neutral on the downside as the red bars have remained below the zero line.
If the Stochastic RSI continued its trajectory into the oversold zone, and prices could drop and test the next support at $ 7.77.