Bitcoin tracks some of its gains over the past 24 hours. Altcoins like BAT and Zcash have followed suit and suspended their own northward movement. They are entering a phase of consolidation on the price charts. Finally, Litecoin is also expected to drop slightly lower on the charts.
Litecoin steadily moved up the charts at the start of the year, with its movement supported by Bitcoin’s own push. In fact, for a brief moment, LTC even reversed the market value of XRP. It becomes the fourth largest cryptocurrency after its price traded near $ 175 on the charts.
However, as the ineludible correction hit Bitcoin, Litecoin was halted. Its market capitalization once again falls below that of XRP. LTC was trading at just over $ 155, down 4.3% in the past 24 hours. Indicators suggest that the pressure to sell may persist over the next few trading sessions.
The Bollinger bands suggest that price volatility increased as the ranges diverged. It also highlighted the selling pressure that prevails in the market.
The MACD Note a bearish cross on the charts. Support is at $ 0.208 likely to offer some relief to the price if selling pressure brings it down.
Basic attention token [BAT]
The Basic Attention Token resumes from the support level at $ 0.208. It is heading towards the resistance level at $ 0.239. The buying pressure was pushing up prices in the charts. In the near future, the price of crypto may challenge its current resistance. Then, it consolidates between its current channel.
The Chaikin Money Flow suggested that capital inflows were larger than capital outflows from the market.
TheAwesome oscillator also points out that the market was once again tilting towards the bulls. A counter action by the bears in the market would mean that the price will stay between its current support and its resistance level.
Zcash has climbed to higher highs and lows on the charts since late November. The sign that the cryptocurrency has followed a downtrend. At the time of writing this article, ZEC was consolidating between $ 62.84 and $ 56.27. In fact, neither buyers nor sellers had absolute control over prices. This situation could persist during the next trading sessions. The indicators were largely neutral. This implies that a movement in both directions was quite possible.
The relative strength index persisted in the neutral zone and offered no final path.
The On Balance Volume failed to recover from the downward spiral on Jan. 1 since Bittrex’s delisting was announced. Although Zcash was not explicitly named among the cryptocurrencies that would be removed from the list. Investors might be concerned that its privacy features could be targeted by other exchanges.
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