The price of Bitcoin is on a constant upward trend. Most altcoins have benefited greatly from this bullish momentum. But there have been a few exceptions to the rule, and these coins seem to be stuck in a phase of consolidation.
Litecoin [LTC]
Source: LTC / USD, TradingView
The price of Litecoin has increased by almost 23% in the last 24 hours. At the time of going to press, LTC was trading at $ 100 with a market cap of $ 6.6 billion. As the uptrend continued, the coin is encountering significant resistance around the $ 102 price level. However, if a price drop were to occur, the coin could fall to its next strong support around the $ 91 price range.
Bollinger bands continue to diverge and indicate increased volatility in SLD prices. The RSI indicator is well in the overbought zone. Which indicates that the uptrend should continue.
Algorand [ALGO]
Source: SOMETHING / USD, TradingView
Unlike LTC, Algorand’s price continues to move sideways. The coin’s current trading price continues to move between resistance at $ 0.349 and support at $ 0.336. At press time, Algorand was trading at $ 0.340 and had a 24-hour trading volume of $ 134 million.
EMA ribbons continue to support Algorand’s current price after stabilizing below. The stochastic indicator is bullish as it is closer to the overbought zone.
Vechain [VET]
Source: EFP / USD, TradingView
Vechain is currently trading at $ 0.016 after registering a slight rise of over 3% in the past 24 hours. The coin continues to move between its strong resistance at $ 0.0174 and its support at $ 0.0168. Despite the strong bullish sentiment in the crypto market, not much has changed for Vechain. Indeed, its price continues to languish due to lateral movement.
The MACD indicator is bearish for Vechain as the signal line continues to hover over the MACD line. The RSI, meanwhile, is currently in the neutral zone, but is heading towards the overbought zone.
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