Cryptocurrency News: Bitcoin - risk will remain towards 320; Litecoin with 1.07 support; Dogecoin, Peercoin and NXT – each having a 6-8% jump
BTC/USD 4H BitFinex Chart
Bitcoin is still trending in a
bearish bias. There are some notable attempts
from the bulls’ end to shoot the price towards prevailing resistance
levels. The BTC/USD moved upward after trending
sideways for most of the weekend. The surprising price movements has
indeed changed the near-term dynamics by putting the next resistance
around 230 in sight.
MACD has moved above the signal line; value is
nearing overbought region; RSI is in buying territory around 53 – all
factors that are indicating towards a near-term bullish run.
LTC/USD 4H BTC-e Chart
The green candles have also appeared in the Litecoin-USD charts, thus
indicating a near-term recovery signal likewise Bitcoin. The Litecoin’s
future movements can thus be figure out only by looking at Bitcoin’s
trend. There are however a little twisted technical dynamics in LTC/USD
4H charts. The RSI is below 50, the volatility is limited, while the
MACD is only slightly apart from its signal line. The upward moment in
next few hours is likely, but for how long can’t say.
Other Cryptocurrency
The cryptocurrency market is looking optimistic for now, with each
altcoin displaying impressive surges in over the last 24 hours. Some
among them are Dogecoin, Peercoin and NXT – each having a 6-8% jump. On
the other hand, Darkcoin has rocketed 10% within the same span. PayCoin
however has dropped 15% thanks to its own melodramatic life.
