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Several cryptocurrencies were struggling to stay afloat near the resistance levels despite a rise of the collective market cap to $354 million. While a pullback might actually play out in the near term, a high sell-off, however, at this point appears to be highly unlikely.
On the network side, Tron has been exploring the burgeoning defi space most notably with Sesameseed and JustSwap. Despite these developments, TRX was down by 3.70% over the last 24-hours which drove its price to $0.0274 as it held a market cap of $1.96 billion and a 24-hour trading volume of $3.13 billion.
The red closing bars of Awesome Oscillator indicated the ongoing bearish momentum in the coin’s price. Chaikin Money Flow hovering below the zero-line further depicted an outflow of money from the coin market.
If the bears continue to have an upper hand, TRX’s already sluggish price could retest a crucial point of support at $0.0202 as the resistance level $0.0353 remained untouched.
Litecoin has so far failed to demonstrate a rally and a breach above $50-level of resistanceis yet to materialize despite several onchain-metrics pointing towards a bullish phase as well as developments on its network’s front. At the time of writing, LTC was up by a mere 0.13% over the last 24-hours as its price stood at $48.36. The coin recorded a market cap of $3.167 billion and a 24-hour trading volume of $1.69 billion.
After prolonged bearish pressure, the silver crypto could finally see the LTC bulls making a much-anticipated headway. This was evidenced by both Klinger Oscillator as well as MACD which underwent a bullish crossover.
Should this uptrend gain the necessary momentum, LTC could climb to its overhead resistance of $50.92 and subsequently target the recently breached level of $63 while the coin’s support remained firm at $41.32.
As bearish pressure continued to mount on XRP, the coin was found to be trading at $0.249 after a minor surge of 0.35% over the past day. It registered a market cap of $11.24 billion and a 24-hour trading volume of $1.84 billion.
The dotted markers aligned below the XRP price candles depicted a bullish phase for the coin. The steady increase in the RSI which was now targeting the 50-median line further indicated a sentiment of decreasing sell pressure among the traders in the XRP market.