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Altcoins

Litecoin continues on its uptrend as NEO, DigiByte stay on course

Rakshitha Narasimhan

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Source: Unsplash

It has been established by now that the altcoins are recovering from their losses in March. Although they are doing so at their own pace, most alts have begun to go on an upward run. Litecoin, NEO, and DigitByte are some of these alts, with each of these coins maintaining steady support levels on their charts.

Litecoin[LTC]

Source: LTC/USD, TradingView

The 7th ranked coin on CoinMarketCap, Litecoin started its downward run as early as 7 March, recording a drop of 51% and falling to $30.25, following ‘Black Thursday.’ However, the coin soon rose by 39% on 18 March, with LTC trending upwards since, maintaining support at $35.31.

The attached chart highlighted the formation of an ascending triangle that signaled an upward breakout. This was further confirmed by the CMF indicator.

Resistance: $42.43, $50.77, $63.61
Support: $35.31, $32.61, $30.25

Press time price: $41.63
Market Cap: $2,580,750,463
24-hour Trading Volume: $3,392,860,894

NEO

Source: NEO/USD, TradingView

With 133,248,297 NANO in circulating supply, Nano has been trending upwards since 18 March, maintaining the support at $5.91. Nano is also among the fastest recovering coins in the market as it rose by 49% in just 3 days post the free-fall. A look at the chart revealed a potential ascending triangle pattern, one highlighting an upward breakout.

Additionally, the MACD indicator hinted at a potential bullish crossover, further confirming the upward price breakout.

Resistance: $7.4, $10.27, $12.47
Support: $5.9, $5.29, $4.81

Press time price: $6.96
Market Cap: $490,291,913
24-hour Trading Volume: $442,688,116

DigiByte

Source: DigiByte/USD, TradingView

With a circulating supply of 12,996,675,081 DGB, DigiByte has been trending upwards since mid-December. However, post-Febraury 15, the coin has been on a downward run and dropped further down on 12 March [41%].

Starting on 23 March, the coin recorded an upward trend. The Awesome Oscillator hinted at an upward price breakout as it lay above the zero line with green bars.

Resistance: $0.005, $0.007, $0.008
Support: $0.0039, $0.0030

Press time price: $0.0052
Market Cap: $67,547,093
24-hour Trading Volume: $2,408,531

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.

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