Litecoin Daily Chart Analysis – LTC Finding Support at MAs Now
Litecoin has been very sensitive to news in recent months, which have sent it higher, although it hasn’t been able to hold the gains. We saw it jump twice in September, as rumours about Walmart accepting LTC sent investors into LTC.
Earlier this month we saw a surge in Litecoin, from $200 until $300, after Visa and Litecoin partnered to bring the Litecoin Visa debit card. Litecoin was holding the gains well this time, but the crypto market turned bearish and LTC/USD has given back most of the gains. A while ago I heard that Litecoin is going to be listed for trading in Estonia’s LHV Pank, which is positive news but hasn’t moved the price much.
Although, the 50 daily SMA (yellow) held as support for Litecoin yesterday and today we are seeing a small reversal higher. Before the $200 level turned into support last week, now the 50 SMA, which is a good thing, since the lows are getting higher. So, once the sentiment improves in the market, Litecoin will likely resume the upside momentum.
Terra Luna Daily Chart Analysis – The 100 SMA Holds Again
Terra LUNA coin has been one of the most bullish cryptocurrencies, as it increased from around $5 to $55 in several months. The uptrend has slowed somewhat since August, but buyers remain in firm control and the price keeps making new highs.
Sellers seem to be giving up now after failing twice at the 100 daily SMA
There have been pullbacks lower so far, but technical indicators such as the support/resistance levels and moving averages have been holding the price up and have pushed the trend higher. Today we are seeing another bounce of the 100 daily SMA (green) which means a higher low, so the price action tells us that we might see a bullish reversal soon. Besides that, Terra LUNA community passed the proposal to bur about $4.5 billion in LUNA coins, which will bring deflation and appreciate LUNA/USD further.