LTC, XTZ and DOGE person each seen immoderate correction successful the past 24 hours
Litecoin, Tezos and Dogecoin are seeing immoderate downside pressure, correcting caller gains amid a slowdown for Bitcoin and Ethereum. The apical 2 coins person struggled aft correcting from important terms levels supra $50,000 and $3,300 respectively.
Volatility implicit the play could spot coins caput north, though the short-term outlook for LTC, XTZ and DOGE suggests prices mightiness trial erstwhile enactment zones earlier rebounding.
Litecoin price analysis
Litecoin terms broke beneath an ascending enactment enactment connected the regular chart, with the LTC/USD brace declining to wrong a captious enactment portion beneath $170. Bulls are presently eyeing a rebound supra the 0.236 Fibonacci retracement level of the determination from $104 to $192. The line, presently located adjacent $171, provides a proviso portion that could spot LTC prices close lower.
LTC/USD regular chart. Source: TradingView
The antagonistic outlook for LTC is added to by the dipping RSI and bearish MACD, suggesting imaginable retests of the 0.5 Fib level ($148) and the 50-day SMA ($149). The adjacent enactment country is astatine the 0.786 Fib level ($123).
Tezos terms analysis
XTZ terms gained 28% connected Wednesday aft quality that apical Swiss banks had tapped Tezos for astute contracts projects. The coin's worth deed a 7-day precocious of $5.44 connected Coinbase earlier it saw monolithic nett taking the adjacent time to vessel beneath $4.35.
On the downside, the terms of XTZ could retest the cardinal enactment portion astatine $4.17, marked by the 0.618 Fib level of the determination from $2.10 to $5.44. The 20-day EMA enactment astatine $3.87 offers the adjacent anchor, with the 0.5 Fib level besides providing a imaginable request portion astatine $3.77.
XTZ/USD regular chart. Source: TradingView
On the upside, the RSI supra 60 and a bullish MACD suggest terms mightiness consolidate supra $4.50. If bulls support prices supra the bullish trendline connected the regular chart, morganatic targets prevarication astir $4.73, $5.11 and $5.44.
Dogecoin terms analysis
Dogecoin's terms has traded little since breaking from highs of $0.35 connected 16 August. The terms of DOGE has retested the $0.26 enactment zone, which presently provides the anchor successful lawsuit of further downside.
DOGE/USD regular chart. Source: TradingView
The regular illustration shows the RSI decreasing beneath 50, portion the MACD has formed a bearish crossover and is heading into the antagonistic zone. The outlook suggests DOGE mightiness diminution beneath the $0.26 area, with bulls apt to rebound disconnected the ascending trendline with enactment adjacent $0.24.
On the upside, DOGE/USD’s main absorption is astatine the 20 EMA ($0.29).
English (US) ·