Bitcoin believers have put their faith in the bull run and the recent Tether/Bitfinex drama couldn’t stop its price from rallying.

Litecoin, the silver to Bitcoin’s gold, hasn’t been seeing much progress in its price. The price of LTC hit a glass ceiling during the first week of April and the prices have since dumped. At press time, the price of Bitcoin was $5,493 and that of Litecoin was $73.43. The market caps of the coins were $98 billion and $4 billion, respectively.

Bitcoin

Source: TradingView

Support 1: $3,175
Support 2: $3,532
Support 3: $4,140
Support 4: $4,948
Resistance 1: $5,624
Resistance 2: $6,169

The Bollinger Bands for Bitcoin showed that they were undergoing a squeeze, indicating that volatility was seeping out of the market as BTC’s price neared an imminent resistance.

The Aroon indicator showed a collapsing downtrend and uptrend, suggesting the price’s sideways movement in the near future.

The Stochastic RSI indicated recovery from the depths of an oversold zone. The bullish crossover indicated the same.

Litecoin

Source: TradingView

Support 1: $23.59
Support 2: $40.15
Support 3: $63.10
Resistance 1: $87.94
Resistance 2: $101.48

The Bollinger Bands for Litecoin showed a decrease in volatility as the bands were converging.

The Aroon indicator showed the effect of downtrend decreasing after reaching a peak, indicating the weakening of sellers’ momentum. The uptrend had reached its lowest point, which indicated that it had room to grow.

The Stochastic RSI indicated recovery from the depths of an oversold zone, similar to that of Bitcoin.

Conclusion

Bitcoin was projected to be slightly more bullish than Litecoin, since the latter had hit an invisible ceiling. The indicators, Aroon, Bollinger Bands, and Stochastic RSI, indicated the same.

The post Bitcoin [BTC] vs Litecoin [LTC] Price Analysis: BTC manages to recover as LTC gets ravaged by bears appeared first on AMBCrypto.

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