Litecoin’s value dropped on the back of a bearish divergence, but at the time of writing, it was close to a critical level of resistance. STEEM appeared to enter a period of consolidation, while Dash was unable to breach and hold its level of resistance. It is likely that DASH will register more losses over the next few trading sessions.
LTC was moving within an ascending channel (white) and exhibited a bearish divergence (orange) when LTC made a higher high as the OBV formed a lower high.
This showed that the price was making gains, even in the face of diminished buying volume, and the price was subsequently forced to correct to $47.
A level of resistance lay at $50.45 for LTC. The crypto-asset has not been able to close and defend this level since early-September and would be a target for the market’s bulls in the coming days.
A close above this level would be bullish and LTC could soon rise to $54.
The Bollinger Bands were tightening around STEEM’s price, with the same indicating a period of lowered volatility.
The crypto-asset, while it noted a bullish divergence (orange), gained by 1.4% on a move upwards. The asset has been trading between $0.17 and $0.152 for most of the past three weeks.
A phase of consolidation near the support level might break out to the upside. However, more time and data would be needed to confirm both the consolidation and then, a potential breakout.
The 20 VWMA (volume-weighted moving average, green) was moving some distance beside the 20 SMA (white) over the past week. Alongside the heavy trading volumes seen in individual sessions, it can be concluded that DASH’s recent spike to $73 and the equally rapid descent to $66 was a violent tussle between the bulls and the bears on the charts.
Further, the price appeared to have flipped the $69.8-level to support, but the bears were able to undo all the recent gains as they pushed the price even lower.
DASH was also trading under the 100 SMA (pink), which highlighted the fact that DASH has been trending lower since late-August.
A reversal in trend would necessitate the capture of the $69.8-level. However, the past few trading sessions have seen the crypto-asset post gains while the trading volume was well below average, suggesting some more losses could be seen shortly.
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