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Litecoin, Cosmos, Decred Price Analysis: 30 November

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Litecoin pictured a bullish divergence on the charts and bounced strongly off a Fibonacci level of retracement. Cosmos also moved with notable trading volume past a level of resistance and seemed to be heading higher. Finally, Decred formed a double bottom a few days ago and rose to test a region of supply at $24.

Litecoin [LTC]

Litecoin, Cosmos, Decred Price Analysis: 30 November

Source: LTC/USD on TradingView

Litecoin pictured a bullish divergence between the price and the momentum indicator (RSI) and bounced strongly off the support at the 50% retracement level for LTC’s move from $45 to $94 over the past two months.

At the time of writing, the RSI noted a value of 59 and it could drop slightly to retest the neutral line if LTC sees a dip towards the pocket of liquidity in the vicinity of $76.

The 61.8%, 50%, and 38.2% retracement levels have performed remarkably as support, and it was likely that LTC would resume the previous uptrend and flip the resistance at $80 to support.

Cosmos [ATOM]

Litecoin, Cosmos, Decred Price Analysis: 30 November

Source: ATOM/USD on TradingView

ATOM’s drop from $6.45 to a swing low at $5 was analyzed using the Fibonacci Retracement tool to highlight some important levels of support and resistance.

The Awesome Oscillator showed a bearish twin peaks set-up a few days ago, one that saw the price dip by 3.5% to find support at $5.31.

Since then, ATOM has climbed steadily past the retracement levels, while also rising past the resistance at $5.45 on a trading session with above-average trading volume, lending legitimacy to the rise in price.

ATOM could retest the same before moving towards $5.69, the 50% retracement level.

Decred [DCR]

Litecoin, Cosmos, Decred Price Analysis: 30 November

Source: DCR/USDT on TradingView

Decred formed a double bottom pattern and broke above the neckline with a projected target of $23.4. At the time of writing, the price was $23.8 and the coin still had bullish momentum left in it, according to the MACD.

Trading volume has been steady over the past few days. The level at $24.6 has seen the price get rejected a few days ago and the indecisive candle that tested the resistance might presage DCR testing the $22-region before another surge upwards.

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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.
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