Litecoin fell for a third consecutive session on Thursday, as the token continued to move away from recent highs. Cryptocurrencies have been mostly lower in recent days, as traders continue to fear a global recession. Cosmos also remained in the red during today’s session.
Litecoin (LTC)
Litecoin (LTC) dropped to a ten-day low on Thursday, with the token falling for a third straight session.
Following a high of $79.20 on Wednesday, LTC/USD moved to a low of $74.82 earlier in the day’s session.
As a result of this, the token fell to its lowest point since November 29, when prices hit a bottom of $73.39.
Looking at the chart, it appears that litecoin bears are hoping to push prices towards a floor at $73.00.
This seems a possibility, especially with the 14-day relative strength index (RSI) fast approaching a floor of its own.
The index is currently tracking at 57.10, and seems to be moving towards a support point of 53.00.
Cosmos (ATOM)
Another notable token on Thursday has been cosmos (ATOM), which fell to a ten-day low earlier in the day.
ATOM/USD fell to a bottom of $9.52 on Thursday, before bulls reentered the market and bought the recent dip.
Today’s bottom saw cosmos trade at its lowest level since November 28, which was the last time the token hit its floor at $9.45.
As of writing, ATOM has mostly rebounded, and is currently trading at the $9.71 level.
In addition to this, the RSI has bounced from a floor of its own at 39.50, and is currently tracking at 41.40.
Should momentum continue in an upward direction, ATOM bulls will likely target a move above the $10.00 mark.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cosmos to move above $10.00 this week? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Credit: Source link
