HomeTodays NewsBitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC and LTC bulls defend position
Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC and LTC bulls defend position
May 26, 2019
Bitcoin, the king of all cryptocurrencies was priced at $8,049.86 with a 0.98% 24-hour change and $25.61 billion in 24-hour trading volume, at press time. With a market cap of $142.61 billion, Bitcoin continued on its bullish path.
Litecoin was priced at $103.34 with 8.56% growth over the 24-hour change cycle and $6.12 billion was the 24-hour trading volume. Litecoin was ranked fifth with a market cap of $6.39 billion.
Bitcoin saw an uptrend from $3,959.01 to $8,146.31. The two resistance lines stood at $8,197.57 and $7,220.63, along with the three support lines at $5,026.28, $3,742.69 and $3,373.01.
Bollinger bands depicted an increase in the volatility of the market.
Awesome Oscillator showed a consistent rate of growth above the zero-line, supporting the short-term momentum as it became greater than long-term momentum. As the last three lines were red, a bearish swing was in the offing.
Chaikin Money Flow indicator line was just below the zero-mark, indicating that money was flowing out of the market.
Litecoin [LTC] saw three uptrends, from $38.91 to $92.15, $92.37 to $102.17, and $102.62 to $103.51. Resistance lines stood at $61.19 and $102.40 as the support lines were at $41.36 and $29.78.