Litecoin, Chainlink, HBAR follow separate ‘trends’ as consolidation continues
After the penultimate rally towards the end of April, many people in the community expected May to start off on a high as well. However, the present consolidation phase has carried on for longer than expected.
Many of the market’s major crypto-assets such as Litecoin have taken a neutral position in the market. On the contrary, while Chainlink has been on a minor rise, Hedera Hashgraph was on the bearish side of the market over the past 24-hours, at the time of writing.
After briefly touching $50 on 30th April, Litecoin slowly fell, with its value, at press time, hovering at around $48. A minor dip of 0.75 percent was witnessed over the past 24-hours, with the coin having recorded a market cap of $3.04 billion. The trading volume for the altcoin remained high on the charts, with over $4.23 billion recorded over a 24-hour period.
Market Indicators were mildly bullish for the token as the Chaikin Money Flow suggested that capital inflows were higher than capital outflows, at the time of writing.
Further, the Relative Strength Index or RSI, while neutral over the past 48-hours, recorded an increase in buying pressure on the charts.
LTC was in the news recently after Litecoin’s MimbleWimble protocol received an update after lead developer David Burkett suggested that LTC codebase will undergo an update integration.
Chainlink was the only clearly bullish token with a hike of 0.98 percent over the past 24-hours. However, LINK did register disappointing trading volume on the charts, with only $311 million worth of activity witnessed over the period of time. LINK had a market cap of $1.3 billion, while the token was valued at $3.75.
The MACD indicated a bullish trend for the token as the MACD line remained above the signal line on the charts.
The Parabolic SAR exhibited bullish sentiments as well, with the dotted markers observed to be under the price candles.
The boost in the price of Chainlink could be due to a recent announcement, according to which, it has been listed on Gemini Exchange starting 5 May.
Hedera Hashgraph [HBAR]
Finally, 40th ranked Hedera Hashgraph maintained a bearish nature on the charts with a significant drop of 5.21 percent recorded. With a market cap of just $159 million in the industry, HBAR was worth $0.039, at press time.
Further, the recorded trading volume remained low at $9.5 million over the last 24-hours.
The Parabolic SAR suggested a bearish trend as the dotted markers hovered over the price candles while the RSI indicated neutrality between buying and selling pressure.