Litecoin (LTC) traded inside a climbing challenge and had dependable support at $126 and the $128 value area. Zilliqa might register a pullback in the coming hours or days following upsurges over the past seven days. Meanwhile, ApeCoin dropped below the range it tried to overcome.
Litecoin has had its price movements inside a climbing channel within the previous ten days. While writing these lines, the Relative Strength Index swayed below the neutral 50 even as the alt plummeted below $131 and the channel’s mid-point.
The trading session before this publication saw an extraordinary trading volume, and levels at $128 and $126 remain critical to consider in the short term. The Stochastic Relative Strength Index exhibited oversold conditions. A fall under $128, then $126 will see Litecoin searching for support in $118 – $120.
Zilliqa has ridden massive bullish waves over the last week, gaining approximately 350% within seven days. The past couple of hours saw an emerging pessimistic divergence between the RSI and ZIL prices (after the Relative Strength index made lower peaks as the price recorded higher highs). That might see that altcoin dipping towards $0.182. Moreover, the FIB retracement zones marked $0.125 – $0.145 as a demand region.
The on-balance volume maintained steady surges. Unless that shifts, testing support floors might offer ‘buy’ opportunities. Meanwhile, upside moves would have to conquer the long-term resistance zone at $0.224.
ApeCoin (APE) seemed to overcome the range between $9.5 and $14.5 a few days ago. Nevertheless, inadequate demand halted the breakout, as the OBV suggests. The price failed to form a higher peak following the upside. Instead, the downward move beneath $13.65 to explore $13 support saw the market structure flipping to bearish from bullish.
While publishing this content, the near-term market structure flashed bearishness. Furthermore, the rejection around range peaks within the past few days supported the move towards the range’s mid-point. The Relative Strength Index steadies at 47, and a session close beneath 40 would increase the probability of a downward action.
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