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The cryptocurrency market has been experiencing a lot of volatility recently. Bitcoin [BTC] dipped below 8k and the 24-hour trading volume was falling, at press time. Litecoin [LTC] seized its lost position on the cryptocurrency charts from EOS, and was ranked fifth on CoinMarketCap, at press time.
1-Day BTC chart
Source: TradingView
Bitcoin’s 24-hour trading volume was recorded to be over $22 billion, with a market cap over $139 billion, at press time.
An uptrend was sighted from $4,122.68 to $5,136.42, while the other was sighted from $5,715.70 to $7,904.09. A downtrend was seen from $6,311.07 to $4,943.32. Resistance was found at $8,225.91, while support was found at $3,173.30.
Bollinger Bands indicated reducing volatility in the market.
The Aroon indicator pointed towards sideways movement in the market.
Klinger Oscillator depicted a bearish market trend in the BTC market.
1-Day LTC chart
Source: TradingView
The 24-hour trading volume for LTC was seen to be over $4 billion, with a market cap of $6.4 billion.
An uptrend was seen from $49.38 to $92.46. The resistance was recorded at $116.96, while the support was at $40.49.
Chaikin Money Flow indicated an equilibrium in the capital outflow and inflow in the LTC market.
Awesome Oscillator pointed towards falling market momentum.
MACD depicted a bearish crossover.
Conclusion
BTC and LTC jointly experienced a bearish market, with a few indicators pointing towards sideways movement as well.