Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC holds strong above $5k while LTC welcomes the bear

After sliding to the sixth position, Litecoin [LTC] failed to make it above $80 after posting significant gains during the initial days of April. The king coin, Bitcoin [BTC], remained intact above the $5,000-mark.

At press time, Bitcoin [BTC] held a market cap of $89.71 billion and was priced at $5,089. The cryptocurrency registered a 24-hour trading volume of $10.34 billion and exhibited a decline of 0.43% over the past 24 hours.

Litecoin [LTC], held a market cap of $4.76 billion and a 24-hour trading volume of $2.22 billion. The crypto-asset was valued at $77.38 and fell by 2.66% over the past 24 hours.

1-day BTC chart

Source: TradingView

The candlestick arrangement on BTC’s one-day chart exhibited a downtrend from $6,451 to $5,309, along with a small uptrend from $4,194 to $5,060. The supports for the crypto-asset were found at $4,036, $3,789 and $3,469, while the immediate resistances stood at $5,654 and $6,467.

Bollinger Bands: The mouth of the bands was open and predicted increasing volatility for BTC’s 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 forecast.

1-day LTC chart

Source: TradingView

The one-day LTC chart exhibited 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 $87.17 was also registered, however, the coin fell below the $80-level shortly after the spring and has since failed climb higher. A minor downtrend from $56.52 to $34.60 was also recorded.

A potential price break is being anticipated, one that may push the coin over the recently surpassed $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, depicting a bearish pattern for the coin’s valuation.

Klinger Oscillator: The reading line was also below the signal line and projected a bearish course for LTC’s price.

Conclusion

BTC continued to sway between the bear and the bull’s side, while its silver counterpart pictured a strong bear’s hold in its valuation.

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