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Litecoin, Polkadot, XRP Technical Analysis On 22 September 2020

A carnage was witnessed in the crypto market as several coins including Bitcoin was plummeting by huge figures. Despite this setback, the king coin continued to dominate the markets by 58.6%. The price of these digital assets wasn’t the only one enduring a slump, the overall market cap of the industry followed as it was as low as $328.53 billion, during the time of writing.

Litecoin [LTC]

Touted as the silver to Bitcoin’s gold, Litecoin has been one of the earliest cryptocurrencies. LTC joined the red zone as its price was dropping by 9.24% during the time of writing. The altcoin was trading for $43.06 with a market cap of $2.820 billion.

It wasn’t long ago LTC broke below a critical support zone at $47.51, further pushing the altcoin’s price to a low of $43.02. However, the MACD indicator revived optimism in the LTC market with a bullish crossover. Earlier today, the signal line slid below the MACD line welcoming the bulls into the LTC market. Kling Oscillator seconded the existence of bulls. The aforementioned indicators could possibly help LTC break past its resistance point at $43.97.

Polkadot [DOT]

DOT has been lounging below the crypto spotlight after dethroning many prominent cryptocurrencies in terms of market cap. DOT stands as the fifth-largest coin, with a market cap of $3.342 billion. At the time of writing the coin was trading at $3.92 with a 15.21% drop in its price over the last 24-hours.

The price of DOT was previously moving sideways for quite some time. However, on 19 September, the altcoin commenced its journey downhill. It seems like DOT will prolong its downhill run as the Chaikin Money Flow [CMF] indicator pointed out the presence of bears. The CMF marker was below zero highlighting a bearish sentiment. Awesome Oscillator also sided with the bears with red closing bars.

XRP

Even though XRP is no more the third-largest cryptocurrency, it seems to have a stronghold on the fourth position with a market cap of $10.41 billion. However, the altcoin joined the list of coins that were incurring huge losses as it dropped down to $0.230 with a negative 6.85% change in its price over the last 24-hours.

It wasn’t long ago that XRP broke below its support at $0.243. Despite this, the Parabolic SAR indicator formed dotted lines below the candlesticks bringing back some hope to the XRP markets. However, at the time of writing, the indicator had commenced forming a dotted lone right above the candlesticks interrupting an upward breakout. Relative Strength Index suggested that the altcoin was recovering from a journey to the oversold zone. Yet, a seller’s sentiment was intact in the XRP market.

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