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Litecoin continues on bearish run; Zcash and BAT follow suit

Rakshitha Narasimhan

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Litecoin continues the bearish run; Zcash and BAT follow in the footsteps
Source: Unsplash

March was bad for all the cryptocurrencies coins while April was a relief as several altcoins recorded significant gains. Starting May, however, coins like Litecoin, Zcash, and BAT are on a downward run, and, as per the price indicators, they might continue the bearish run for a couple more days.

Litecoin

Source: LTC/USD, TradingView

Litecoin, the seventh coin as per Coinmarketcap, had a wild run throughout April and has continued the same pattern in May as well. The coin after recording a major loss in the second week of April with the price reaching as low as $39, saw a rise by 13% on April 21; the coin saw another rise on April 30 by 13%. However, this bull run did not last long. The coin moved downwards since the start of May and experienced a 13.6% drop on May 9. By the looks of it, the coin might continue on its downtrend in the coming days as confirmed by the CMF indicator.

Resistance: $43.15, $46.83, $48.69, $49.77, $50.73
Support: $41.24, $39.54
Press time price: $41.88
Market Cap: $2,713,888,848
24-hour Trading Volume: $4,655,886,477

Zcash

Source: Zcash/USD, TradingView

Just like LTC, privacy coin Zcash has also not been performing well lately. After recovering from the 15% loss on April 20, the coin had maintained the support at $42 and recorded an 8% rise on April 29. However, since the start of May, it has been on a downward run. On May 10, the coin saw a drop by 13% and is continuing the bearish run at the moment. The further drop is confirmed by the Awesome Oscillator. Additionally, the widening Bollinger Bands indicate high velocity in the coming days.

Resistance: $42.97, $45.65, $47.01
Support: $40.01, $38.30
Press time price: $40.87
Market Cap: $373,475,701
24-hour Trading Volume: $365,196,521

Basic Attention Token

Source: BAT/USD, TradingView

Basic Attention Token’s price fluctuations are no different. The coin has been on a downward run since April 29. However, the coin saw a 28% rise on May 9 only to drop again by 21%. MACD indicator which is heading a bearish crossover indicates a potential downward breakout of BAT’s price. The RSI indicator rests at 45 hints at a potential ‘over-sold’ situation in the near future.

Resistance: $0.20, $0.23, $0.24
Support: $0.177, $0.161, $0.155
At press time: $0.19
Market Cap: $284,943,570
24 Trading Volume: $113,599,591


A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.