Connect with us

Analysis

Litecoin, ETC, BAT price analysis: June 22

Akash Girimath

Published

on

Litecoin, Ethereum Classic, Basic Attention Token price analysis: June 22
Source: Unsplash

Basic Attention Token, Ethereum Classic, and even Litecoin are all showing incoming bullish momentum on the short-to-medium term time frame. However, BAT and ETC have already surged to a small extent.

Litecoin

Source: LTCUSD TradingView

Litecoin showed the formation of a falling wedge on the four-hour time frame indicating an imminent bullish move. This move could result in the price surge that could range anywhere from 0.5% to 8%. The initial resistance at $43.89 is important since it has prevented the price from surging since June 18. However, breaching this would confirm the falling wedge. The final and an optimistic target would be $47.15, which would be a 7.5% surge from the current level.

Litecoin was recently in the news after Managing Director of the Litecoin Foundation – Charlie Lee pointed out that the upcoming MimbleWimble implementation will be able to scale much better than other privacy-focused protocols, like Monero or Z-Cash.

Ethereum Classic

Source: ETCUSD TradingView

Ethereum Classic has seen a drop in its value since the start of June, however, things might be turning around for the token as the symmetrical triangle has formed. At press time, the token is priced at $6.32 and has a total market cap of $733 million. Additionally, the token has a 24-hour trading volume of $524 million.

The symmetrical triangle is seeing what seems like the last leg before the price breaks out of it. Due to the recent appreciation, the breakout seems bullish, especially, considering the RSI, which has enough space to hit the overbought zone. This is if it doesn’t do a 180, similar to the recent peak.

Basic Attention Token

Source: BATUSD TradingView

Basic Attention Token or BAT has seen an increase in its value its price surged from $0.212 to $0.25. At press time, the token is ranked 32 with a market cap of $359 million. However, the said surge seems to have hit a dead end with strong resistance at $0.47. This level has prevented the price from surging on a previous instance [June 08], hence, the same might come to play. Supporting this is the Directional movement indicator which showed the DI+ line hitting a ceiling.


Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.