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Litecoin, Cosmos, BAT Price Analysis: 03 November

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Source: Pixabay

Bitcoin Dominance was at 64.5, a rising trend in recent weeks. The altcoin markets continued to show weakness, as many crypto-assets showed bullish developments technically but the moves upward were short-term in nature and ultimately unable to shrug off bearish pressure. Litecoin was likely to trade at $50 in the coming days, while Cosmos showed a bullish divergence and could see a bounce of nearly 7%. Basic Attention Token could see a minor move upward in the coming hours before another leg down.

Litecoin [LTC]

Litecoin, Cosmos, BAT Price Analysis: 03 November

Source: LTC/USD on TradingView

Litecoin formed a rectangle top pattern (yellow) and closed a trading session beneath the pattern. This projected a target of $49 for LTC in the coming days.

The region at $50 is a strong region of demand and could serve as support for LTC. A close beneath the $50 level of support could take the price as low as $46 shortly thereafter. Similarly, if bulls pushed the price above $53 and managed to stave off bears, a move toward $56 could be initiated.

The MACD also showed bearish momentum for LTC as it formed a bearish crossover beneath the zero line, indicating the higher likelihood for LTC to move downwards in the short-term.

Cosmos [ATOM]

Litecoin, Cosmos, BAT Price Analysis: 03 November

Source: ATOM/USD on TradingView

Using the Fibonacci Retracement tool, some important levels of retracement for ATOM’s move from $3.78 to $6.26 was charted (white).

ATOM showed a bullish divergence (cyan) and it was possible that ATOM would rise as high as $4.74, the immediate level of interest to the upside. A more conservative target for ATOM’s possible hike would be $4.58.

However, the longer-term trend has been downward for the coin and a trading session close beneath $4.3 would signal that ATOM could be poised to drop as low as $4 and $3.8.

Basic Attention Token [BAT]

Litecoin, Cosmos, BAT Price Analysis: 03 November

Source: BAT/USD on TradingView

Basic Attention Token lost a level of support at $0.2 and was trading at $0.185 at press time.

The Stochastic RSI showed that the crypt-asset was about to move into the oversold region. This suggested a minor pullback to the upside for BAT, which could provide short-sellers a better entry to a trade.

The OBV showed that buying volume was trending ever lower and there was no let-up in the bearish pressure.

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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.