Litecoin had a brief spike before being forced back beneath resistance. It is possible that Litecoin and Ontology will not move upward or downward by a large margin in the coming days as it looked to be in a phase of consolidation. Dash set its next level of resistance as a target, and might be able to reach it if Bitcoin did not move much in the meantime.

Litecoin [LTC]

Source: LTC/USD on TradingView

Litecoin fell beneath its 20 SMA (white) after briefly surging past the moving average. LTC faced resistance at $48 level and was trading at $47.3 at press time.

Parabolic SAR showed a buy signal, but over the past few days, the dots have flipped from buy to sell signals in pretty much the same $46-48 region, showing the lack of momentum in the market.

The next level of support for the asset lies at $40 region.

Litecoin was ranked tenth on CoinMarketCap, with a market cap of $3.09 billion. For the past two days, LTC had a 24h trading volume of $2.2 million and $2 million, which is significantly beneath the 24h trading volume average of the past week. This could indicate a short term consolidation for LTC.

The recent development update released showed that Mimblewinble was on track.

Dash [DASH]

Litecoin, Dash, Ontology Price Analysis: 08 September

Source: DASH/UDST on TradingView

After showing a bullish divergence, DASH dipped to test support at $65 once more, before surging to $76. This set a higher high than the previous two peaks.

RSI showed a reading of 52 at the time of writing. If RSI bounces off the neutral 50 mark, it would be another sign that DASH could be bullish in the short-term.

If DASH is able to close a trading session above $84, it would make the bullish case for DASH much stronger. It was trading at $73.6 at press time.

Ontology [ONT]

Litecoin, Dash, Ontology Price Analysis: 08 September

Source: ONT/USDT on TradingView

Price appeared to be consolidating above support at $0.6. Bollinger bands were constricted, showing the asset showed reduced volatility in the past few trading sessions.

Awesome Oscillator also showed a weakening sell pressure, as green bars were printed in succession on the histogram.

 

(Excerpt) Read more Here | 2020-09-08 15:01:07
Image credit: source

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