The broader market saw signs of revival after the 19 September sell-off, with most alts recording gains on their charts.
Litecoin rose by 4.5% and was targeting its nearest resistance level, at press time. TRON appreciated by over 7% and flashed signs which suggested that buying pressure could return to previous levels. Finally, SUSHI eyed its one-week high after recording substantial gains of 8.7% in 24 hours.
Litecoin [LTC]
Litecoin appreciated by 4.5% over the last 24 hours and was trading at $157.97. The overhead resistance stood at $161.70 and then at $175.69. The other resistance levels stood at the altcoin’s one-week high of $194.13 and then at $218.15.
On the four-hour chart, the altcoin’s price was seen above the 20-SMA. This indicated that price momentum belonged to the buyers.
The MACD flashed green histograms after a bullish crossover. Chaikin Money Flow was seen above the half-line – A sign of strong capital inflows. The Relative Strength Index, on the contrary, stayed below the half-line. This suggested that selling pressure preceded buying strength in the market.
If selling pressure continues to exceed buying pressure, the price would witness a drop-down. The nearest price floor for Litecoin lay at $147.98, a level which the altcoin last touched on 9 August.
TRON [TRX]
TRX/USD, TradingView
TRON surged by 7.8% over the last 24 hours and was valued at $0.096. The immediate price ceiling that the altcoin could breach stood at $0.106. The additional price resistance was at $0.112 and at its one-week high of $0.120. On the four-hour chart, the coin’s price stood over the 20-SMA.
The MACD displayed green histograms as it underwent a bullish crossover owing to its recent price recovery. Chaikin Money Flow was seen above the mid-line too.
The Relative Strength Index was below the half-line – A sign of the sellers exerting more power in the market.
On the flip side, if the altcoin falls below its pres time price level, the price can rest on its one-week low of $0.088 and then, $0.081.
Sushiswap [SUSHI]
SUSHI/USD, TradingView
SUSHI recorded gains of 8.7% over the day. The altcoin was trading at $10.18 and it eyed its immediate resistance of $11.17. Toppling its $11.17 resistance, the alt could breach its next price ceiling of $12.58 and then trade near its one-week high of $14.62.
The MACD flashed green histograms after a bullish crossover. The Awesome Oscillator displayed green signal bars. The Relative Strength Index fell below the half-line and indicated that selling pressure was more than the buying pressure.
On the contrary, SUSHI can encounter its first support at $10.11 and then at its multi-week low of $9.24.