While the top altcoin was up nearly 4.4% in 24 hours, Litecoin and Stellar both posted similar daily gains on their charts at press time.
Avalanche continued its rally after apparently leading the recovery phase.
AVAX became one of the few cryptocurrencies to witness a week on the rise. Crypto posted a staggering 42.1% return on investment in seven days. Although it invalidates its long-term uptrend line (since July), it recovered 61.8% gold. Fibonacci level.
Following a breakout of the bearish flag, the alt formed an ascending wedge and touched the $ 117 mark on December 18. Now any retracement from here would find test support at the 38.2% Fibonacci point which was just below its 20s (red) and 200s (green). senior High School.
At press time, AVAX was trading at $ 114.53. The RSI it retested the overbought region three times and plunged towards level 66. Also the DMI reaffirmed the upper bullish force. Considering the reversal pattern and the threat of overbought RSI, AVAX could see a short-term reversal.
LTC mounted its bearish drift after a breakout of the ascending channel on December 3 when price action moved below its 11-week resistance at the $ 167 mark. After forming a bearish flag, the bears retested. the lower channel (white) twice before the breakout.
During the last 14 days, LTC formed a descending triangle marking lower highs while holding the $ 143.5 support. He too Supertendencia it continued to issue a sell signal.
At press time, LTC was trading at $ 148.4 after struggling to cross the 20-SMA hurdle (red). Except for a few times, the RSI It remained below the midline for the past 30 days, visibly representing weak bullish power. Furthermore, the DMI confirmed the bearish bias, but showed a slightly weak directional trend. The Squeeze the momentum continued to hint at the compression phase with low short-term volatility.
After a breakout of the ascending channel on December 3, XLM also formed a descending triangle that represents a strong selling influence. It persisted at marked lower highs while holding the $ 0.24 support. The alt recorded a drop of more than 18% in 15 days.
Since the December 3 sell-off, XLM 50-high school (green) held a resistance as strong as price action constantly forced it.
At press time, XLM was trading at $ 0.26046. The RSI He was unable to stay above the midline and showed weak signs. The DMI Visibly chose sellers while ADX showed a weak directional trend.
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Avalanche, Litecoin, Stellar Price Analysis – Dec 18