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Litecoin, Cosmos, Algorand Price Analysis: 30 September

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Bitcoin made another attempt at $11,000 but couldn’t reach past $10,856 before facing rejection. At press time the coin was being traded at $10,727 after having seen a minor hike of 0.33 percent in the past 24-hours.

Source: CoinStats

Litecoin surged above a level of resistance and could continue to rise in the coming hours while Cosmos exhibited a bullish reversal pattern and could see further gains in the next few days. Interestingly, Algorand flipped a level of resistance to support but showed a lack of momentum in the markets.

Litecoin [LTC]

Litecoin, Cosmos, Algorand Price Analysis: 30 September

Source: LTC/USD on TradingView

The Bollinger bands had contracted around the price for a few hours before LTC broke out of the squeeze to the upper side and beyond resistance at $45.7. At the time of writing, Bollinger bands were expanding as price traded above resistance, and this trend could continue for a few more trading sessions with price making higher highs.

The recent break out happened on above-average trading volume, indicating the authenticity of the price rise. The next level of resistance lies at $48. The 100 SMA (pink) as well as the $46 level can be expected to act as support levels for Litecoin.

In other news, Emirex announced an LTC/USDT pairing, with LTC/BTC previously available on the platform.

Cosmos [ATOM]

Litecoin, Cosmos, Algorand Price Analysis: 30 September

Source: ATOM/USD on TradingView

ATOM broke out of a descending broadening wedge pattern, highlighted in white. This is a bullish reversal pattern that generally if validated, sees price reverse from a downtrend to reach the level the pattern began making lower highs at.

This projected a target of $5.8 for ATOM in the coming days. There was a level of resistance at $5.45, for ATOM to ascend past.

RSI was bullish, with a value of 69 and bordering on the oversold territory. It was likely for the asset to see some consolidation at $5.45 level before another leg up.

In other news, Coinbase introduced staking rewards for Cosmos.

Algorand [ALGO]

Litecoin, Cosmos, Algorand Price Analysis: 30 September

Source: ALGO/USD on TradingView

Algorand broke out of the descending channel with above-average trading volume. However, since reclaiming the level of $0.31, the price nor the volume saw any move out of the ordinary.

Directional Movement Index also agreed, showing an ADX (yellow) of well below 20, showing the lack of a strong trend.

It was likely that ALGO either dipped toward support at $0.31 or stayed at around $0.32 in a period of consolidation before its next move in the market.

The IBMR launched what is claimed to be the “world’s first microequity” exchange- which runs on the Algorand blockchain protocol.


Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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