Shiba Inu, Chainlink, Litecoin Price Analysis – June 3
True enough, the crypto market seems to have a fresh breath from the recent price crash. Today, most top ten crypto coins increased in value. For example, the leading coin Bitcoin surged to around $39,000.
The altcoin market followed the surge, inducing increased volatility at the same time.
Altcoins such as Shiba Inu, Chainlink, and Litecoin registered upticks at the time of this writing. Let us see what each of the crypto assets has at the moment.
- Litecoin (LTC)
Before the BTC market boost sent Litecoin to a $196 high, the virtual coin valued at $182. The Daily LTC chart indicates that the virtual object had a bearish attitude as its value hovered around $182. However, as the Litecoin price fluctuated, the market acquired a bullish trend.
At the moment, LTC has the Point of Control at $183, indicating traders support even with decreased value.
While publishing this article, LTC seems to have scarce dump chances since the 50-Moving Average remains below the price bars. That is a bullish indication showing an upward price trend. If the LTC market experiences increased momentum, the prices might go northwards, though for the near term.
- Chainlink (LINK)
Although the market turned bearish, LINK’s value remained nearly the $29 support level. However, BTC volatility fluctuations sent Chainlink to $32 at the time of this publication. Moreover, the price changes pressed the 50 MA below the candlesticks, while Bollinger Bands expanded to create room for the anticipated volatility.
Furthermore, the price surge indicates increased buyers’ interest in LINK. The RSI highlighted this change in purchasing pressure, moving to the overbought area away from steadiness. When writing this, RSI was at 63, indicating that Chainlink approached the overbought zone.
- Shiba Inu (SHIB)
When drafting this content, SHIB value at $0.0000099. Although this value can seem irrelevant, the increased user interests show that this meme-based asset is growing. The abrupt change pushed the coin’s value higher, saving it from losing more from the bearish move.
The increasing value replaced the bearishness with bullishness. That indicates an upward market trend. For now, the SHIB support level lies around $0.0000094.
As of today, most prominent cryptocurrencies stages recoveries, increasing in significant percentages.
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