2019-5-4 14:30 |
The collective cryptocurrency market sprung up to a market cap of $185 billion after a protracted bearish trend. The largest crypto-asset on CoinMarketCap Bitcoin [BTC] spiked to new high and surpassed the $100 billion market cap while its silver counterpart Litecoin [LTC] also held on to the bulls.
Bitcoin [BTC]
At press time, Bitcoin [BTC] shot up by 3.77% and climbed to a price of $5,810. The coin held a market cap of $102.7 billion and registered a 24-hour trading volume of $19.21 billion.
Source: TradingView
The one-day BTC chart registered a minor uptrend from $3,364 to $3,914, and a significant uptrend from $4,144 to $5,144. A downtrend from $6,331 to $5,560 was also observed on the chart. The immediate resistances were found at $5,660 and $6,357, while the supports stood firm at $3,851 and $3,560.
Parabolic SAR: The dotted markers were below the candlesticks, indicating a bullish phase for Bitcoin.
MACD: The coin underwent a bullish crossover, indicating an imminent bull run.
Klinger Oscillator: The reading line was also above the signal line post a bullish crossover.
Litecoin [LTC]
The fifth largest crypto-asset Litecoin [LTC] was still below the $80-mark. However, the coin surged 4.31% over the past 24 hours and was valued at $78.35. It held a market cap of $4.82 billion and a 24-hour trading volume of $3.97 billion.
Source: TradingView
The one-day LTC chart registered an uptrend from $32.78 to $66.68, along with a downtrend from $56.34 to $34.70. The resistance continued to be the much anticipated $92.31. LTC found supports at points $45.69 and $32.37.
Bollinger Bands: The mouth of the bands exhibited a non-volatile market phase for Litecoin.
Chaikin Money Flow: The CMF was below the zero-line after a brief bullish stint, indicating that money was flowing out of the coin market. Hence, a bearish price trend for the crypto-asset was recorded.
Awesome Oscillator: The closing bars of the indicator were green and suggested a bullish pattern for the coin.
Conclusion
The latest market surge prompted Bitcoin to rally up to its peak in 2019. Litecoin made a steady rise in its valuation with less possibility of another price break out in the near-term.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls deliver strong gains in coin’s price appeared first on AMBCrypto.
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