Bitcoin [BTC] and it’s silver counterpart Litecoin [LTC] managed to hold off major price decline over the trend period as the coins witnessed a standstill. At press time, Bitcoin [BTC] raised its valuation by 3.30 percent in comparison to the US dollar and the trade volume garnered about $11.7 billion.
Litecoin [LTC] exhibited a similar growth with a hike of 2.66 percent with respect to the US dollar and was priced at $81.09 at press time. The market capitalization recorded by the coin was around $4.9 billion.
Bitcoin one-day chart:
The one-day chart of Bitcoin exhibited the uptrend due to the surge and pushed up the valuation from $3952.4 to $5310.3. The new support line scaled after the hike was placed at $4931.9 and the resistance remained at 5312.4. The price held a sideways movement between these two lines at press time.
The Parabolic SAR indicated a bearish trend for the coin as the dotted markers remained above the candlesticks.
The Chaikin Money Flow or CMF line was above the zero line in the chart which implied that capital was coming into the market.
The MACD indicator showed a bearish crossover and the histogram was below the red line which pointed towards a bear trend for the coin.
Litecoin one-day chart:
Litecoin [LTC] had dropped in valuation after the price surge as the valuation extended from $92.512 to $83.976. The new support line for the trend was scaled at $61.225 and the resistance line remained strong at $93.144.
The Bollinger Bands indicator implied a volatile period for the coin as the markers converged in the market.
The Relative Strength Index or RSI pointed towards acquired neutrality between the selling pressure and buying pressure as the line remained under the 60-marker.
The Awesome Oscillator or AO indicated a bearish momentum in the market at press time, but continued to lose the upper hand with declining red bars.
The SAR, MACD and the CMF indicated a bearish downtrend for Bitcoin on the daily charts. The indicators for Litecoin showed a bearish decline while the prices moved sideways.