Altcoins enjoyed new gains today as options like Litecoin had its market cap increasing by 9.06%. Also, Cosmos had its market cap increasing by 1.57% after the overall market saw a value hike. However, things were not smooth across the market. Dogecoin’s had wild price fluctuations that plunged its market cap by around 11.6%.
ATOM recorded massive buying signals as LTC experienced low liquidity. On the other part, FOGE struggled while testing the immediate resistance zone at $0.21.
For now, the overall crypto market experiences a bearish sentiment drop. LTC extends its rally from yesterday, ensuring upward movements today. With such outlooks, the altcoin might weaken the downtrends. While publishing this content, Litecoin traded at $126.27, translating to a 5.4% gain since yesterday. Meanwhile, the alt had its trading volume declining. That shows liquidity fall in the entire market.
Regardless of the hike, the Bollinger Bands remained parallel. For now, the price has chances to trade within these bands. If the coin can sustain upside moves, the immediate resistance lies around $132. On the other hand, sudden dips can take the altcoin to the support zones at around $121.
However, the ADI (Average Directional Index) hovered above the 20 zones, showing price weaknesses despite the hikes. Bullish outlook showcases as the Awesome Oscillator had green sign bars while writing this.
While writing this article, ATOM traded at $11.03 after intra-day gains of 0.6%. Moreover, the alternative asset has had 1.0% marginal daily increases. ATOM maintained its price ranging from $9.24 to $12.30 since it started registering upside moves. For now, the alternative coin will have its immediate resistance zone at $11.40 and $12.06.
The RSI (Relative Strength Index) shifted away from the oversold territory as the coin saw price upticks. Although the price indicator noted downtrends while writing this, it highlights buying activities. The SMI (Squeeze Momentum Indicator) indicates a squeeze release.
ATOM remained in the red since it gained marginally. Also, the Parabolic SAR showed downtrend possibilities.
At the moment, most digital assets enjoy new highs. With the correct sentiments, the crypto coins might extend their rallies.
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