Litecoin price – February 28 – Latest News, Breaking News, Top News Headlines
Litecoin witnessed a breakout down a parallel channel and moved to its support at $ 156.75. Monero was expected to move sideways as trading volumes and buying activity were suppressed. Finally, a descending triangle appeared on Dash’s chart, but a breakout largely depended on the direction of the market as a whole.
Over the hourly period, Litecoin fell below its parallel channel and moved to another support region at $ 157.5. The On Balance Volume fell when price broke below the lower trendline, but the index was recovering at the time of writing. A bullish cross in the Stochastic RSI added a bit more optimism as LTC recaptured the $ 157 support line.
However, it was difficult to ignore the LTC bear market and stronger indices may be needed to support a move above the immediate overhead resistance. A spike in 24 hour trading volumes could be one of those signals that could project an upward breakout on the charts.
24-hour trading volumes on Monero were dampened as the cryptocurrency failed to break out of the $ 224.5 and $ 196.3 range. The Bollinger bands showed that volatility remained on the lower side as the bands were compressed. It also meant that massive moves were unlikely and that XMR could continue to trade in its current channel over the next few sessions.
A bullish double peak pattern on the Awesome oscillator has been canceled because momentum has shifted in favor of sellers at the time of writing.
Dash formed a descending triangle on its 4-hour chart as price formed lower highs since hitting a local high above $ 330. TheOn Balance Volume also decreases steadily. The liquidation is accentuated by a correction in the market as a whole. The Stochastic RSI continued its southerly course after leaving the overbought region.
Further weakness from market leaders BTC and ETH could continue to negatively impact Dash, and the support levels at $ 166.8 and $ 135.3 could be tested if broken down.
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