Litecoin goes for glory as Ethereum Classic, Dash take a step forward
The altcoin market has been recovering over the past week. While most alts have managed to win back the gains they lost after the crash last month, other alts continue to persist with their bullish trends.
The seventh-largest cryptocurrency in the market, Litecoin [LTC] was witnessing a battle between the buyers and the sellers in the market, one that resulted in the price of the digital asset rising. The coin was being traded at $46.0808, while the resistance was marked at $50.9900 as the support rested at $26.9207.
Litecoin was reporting 12.98% in YTD returns, with the press time value likely to shoot up as the Awesome Oscillator indicator too pointed at rising bullish momentum in the market.
Ethereum Classic [ETC]
Ethereum Classic, ranked 21st on CoinMarketCap’s list with a market cap of $668.61 million, had a 24-hour trading volume of $1.83 billion. ETC was recording almost 30% in profits in 2020, with the token being traded at $5.76, at the time of writing. The immediate resistance was observed at $6.54 while the support was at $3.87.
The coin’s price is expected to rise in the upcoming days as the indicator Parabolic SAR suggested. According to the indicator, the markers had aligned under the candlesticks, indicating a bullish trend in the market.
Dash, an altcoin ranked one position higher than ETC, had a market cap was $706.78 million. Dash’s price had recovered from the fall and was trading at $75.22, at press time, with the resistance marked at $77.86 and the support at $57.78.
According to the Bollinger Bands indicator, the coin had passed its volatile phase and the moving average had slipped under the candlestick noting that the bulls were in the market.