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Decred, Dogecoin, Litecoin: Attempts at upward break fail

Chayanika Deka

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Source: Pixabay

Leading up to the halving was another decline in Bitcoin’s price. While the largest coin’s price remained conflicted, its dominance stood firm at 67%. Post halving, Bitcoin recovered and altcoins closely followed its footsteps. The collective market cap noted a slight increase to $240 billion.

Source: CoinStats

Dogecoin [DOGE]:

Despite a strong bullish outlook, this memecoin has fallen a victim to Bitcoin’s sudden pullbacks. At press time, DOGE was priced at $0.0024 as it held a market cap of $308.41 million. It registered a trading volume of $287.7 million after an increase of 1.11% over a period of the last 24-hours.

Source: DOGE/USD on TradingView

Resistance: $0.0024

Support: $0.0014

MACD: MACD sustained a bearish crossover.

CMF: The CMF, on the other hand, was in the bullish region depicting the inflow in the capital in the coin market.

Litecoin [LTC]:

Throughout the week, Litecoin has been attempting to push higher. Hashrate has also been on a steady rise and recently hit a 10-month high. On the price front, the seventh-largest coin, LTC was up by 0.96% which pushed its price to $42.32. At press time, the coin record a market cap of $2.73 billion and a 24-hour trading volume of $5.36 billion.

Source: LTC/USD on TradingView

Resistance: $83.51

Support: $30.01

Parabolic SAR: The dotted markers above the LTC price candles indicated a bearish trend for the coin in the near future.

Awesome Oscillator: The red closing bars were also suggestive of the bearish momentum for LTC.

Decred:

Its on-chain metrics were observed to be pushing for higher records and its monthly active addresses [MAA] increased to ATH in April this year.

Decred also noted a minor surge of 0.33% over the last 24-hours. At press time, its price was $13.11, registering a market cap of $150.4 million and 24-hour trading of $109.7 million.

Source: DCR/USD on TradingView

Resistance: $24.9

Support: $9.32

Klinger Oscillator: The KO was well below the signal line indicating a bearish phase for the DCR.

RSI: The RSI also appeared to be in the oversold region depicting increasing sell pressure among the traders in the coin market.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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