Litecoin saw a bearish breakout from a parallel channel and switched to its support at USD 156.75. Monero should move sideways as trading volume and buying activity have been suppressed. Eventually a descending triangle appeared on the dash chart, but a breakout largely depended on the direction of the broader market.
Litecoin [LTC]
Source: LTC / USD, TradingView
On the hourly timeframe, Litecoin broke below its parallel channel and moved to another support region at $ 157.5. The On balance volume declined as price fell below the bottom trendline but the index was rebounding at the time of writing. A bullish crossover in the Stochastic RSI added a little more optimism when LTC picked up from the $ 157 support line.
However, LTC’s bear market has been hard to miss and stronger cues may be needed to support a move past the immediate overhead resistance. A surge in 24 hour trading volume could be one such signal that could project an upside breakout on the charts.
currency [XMR]
Source: XMR / USD, TradingView
The 24-hour trading volume on Monero was muted as the cryptocurrency did not break out of the $ 224.5 to $ 196.3 range. The Bollinger Bands showed that volatility remained on the lower side when the bands were compressed. This also meant massive moves were unlikely and XMR could continue trading within its current channel for the next few sessions.
A bullish twin peak setup on the Ingenious oscillator has been negated as momentum was leaning in favor of the sellers at the time of writing.
Dash [DASH]
Source: DASH / USD, TradingView
Dash formed a descending triangle on its 4-hour chart as the price made lower highs since hitting a local high above $ 330. The On balance volume also declined steadily as the sell-off was compounded by a correction in the broader market. The Stochastic RSI continued its southward trajectory after exiting the overbought region.
Further weakness in market leaders BTC and ETH could continue to negatively impact Dash, and the support levels at $ 166.8 and $ 135.3 could be tested down in the event of a breakout. On the flip side, Dash’s pattern could become invalid if price moves north on a broader market rally.
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