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Litecoin, Ethereum Classic and Polkadot Price Analysis – Aug 16




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Altcoins Litecoin, Ethereum Classic, and Polkadot all rose on their charts over the past 24 hours, due to the northward movements of Bitcoin and Ethereum. LTC held above its $ 175.35 support region as it posted a 2.5% rise in prices, ETC noted its immediate resistance at $ 76.70 while trading at $ 75.44. DOT soared 8.1% as it hit a multi-month high.

Litecoin (LTC)

Litecoin was up 2.5% on its chart as it was trading at $ 188.20. The coin successfully traded in its support region of $ 175.35 and could potentially drop above its immediate resistance of $ 188.90 to touch the next top of $ 193.62.

Awesome oscillator Green signal bars flashing suggesting a bullish price action for LTC. Relative Strength Index noticed an increase in buying pressure while hovering above the 60 mark.

Bollinger Bands restricted, which implies that market volatility could be on the decline. In case of a drop in prices, Litecoin could fall to the support line of $ 175.35.

Ethereum Classic (ETC)

Litecoin, Ethereum Classic and Polkadot Price Analysis - Aug 16

ETC / USD, TradingView

ETC noticed a 2.1% increase in the last 24 hours as it stood at a multi-month high of $ 75.44. If ETC rises above the current price level, then it could test the resistance at $ 76.70.




ETC’s four-hour chart, however, showed mixed signs. The Awesome oscillator noticed the start of a bearish price movement with a green signal bar above the midline.

MACD It showed green histograms albeit of a decreasing nature, so ETC could possibly fall and settle at the $ 71.96 support level.

The Relative Strength Index remained bullish as seen within overbought territory, a reading that is often followed primarily by a corrective pullback.

Polkadot (DOT)

Litecoin, Ethereum Classic and Polkadot Price Analysis - Aug 16

DOT / USD, TradingView

The DOT posted an impressive 8.1% gain in the past 24 hours as it traded at $ 25.18, a price it last touched on June 14. As the technical indicators point towards bullish momentum, PUNTO could hold the uptrend and test the resistance at $ 26.29.

Awesome oscillator observed green signal bars indicating an uptrend in the market. Corresponding to the same, MACD after recording a bullish crossover, the appearance of green bars on the histogram is also displayed.

Relative Strength Index It entered the overbought zone directly when buying pressure increased, however a possibility of a price reversal cannot be completely ruled out. In the event of a reversal, the DOT could trade at the $ 22.98 support level.

This is a machine translation of our English version.

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TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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