Terra, Tron, Litecoin Price Analysis – Dec 23

As Bitcoin records a 7.19% rise in three days at press time, altcoins like Tron and Litecoin made similar gains to change their 20-SMAs as immediate support levels. The king coin would need a sustained volume-backed rally to reverse current sentiment and with it the overall market trajectory.

In contrast, Terra entered price discovery and pushed its ATH on December 22.

Earth (MOON)

LUNA witnessed a massive rally after a breakout in the descending channel on December 14. Since then, the alt has risen aggressively between two parallel channels heading north and showed no signs of correction at press time. It saw ROI above 89.05% (from December 14 low) until it touched its ATH on December 22.

The 20-SMA (red) was excellent support for the alt during the rally. During the past day, the bears tested the $ 83.6 level, but the bulls found support at the 23.6% Fibonacci mark. Meanwhile, it became the ninth largest crypto in terms of market capitalization.

At press time, LUNA was trading at $ 90.34. The RSI It wavered around the overbought region on Dec. 18-22. Even after a fall, he showed no signs of loosening. He too OBV affirmed purchasing power. However, the volume oscillator moved sideways during the recent rally instead of rising.

Tron (TRX)

TradingView, TRX / USDT

TRX witnessed a symmetrical triangle breakout on December 17 as the feeling of fear mounted. This fall occurred after the News of Justin Sun resigning from his duties at the Tron Foundation.

The alt saw a decline of more than 9% over the past week when TRX marked a descending channel (yellow). The altcoin lost the crucial $ 0.078 level, which the bulls held for more than four months. However, the bulls managed to regain the previous level as immediate support.

It is no surprise to see the Supertendencia be in the red zone and flash the sell signals. At press time, TRX was trading at $ 0.07941. The RSI he continually encountered resistance in the middle line and struggled to cross it. The OBV it wavered around its seven-week low and reaffirmed the decline in buying pressure.

Litecoin (LTC)

LTCUSDT 2021 12 23 19 40 35

TradingView, LTC / USDT

After an expected breakout of the bearish flag, the price action found an oscillating range between the $ 143 and $ 156 mark. For the past 18 days, LTC formed a descending triangle by marking lower highs while holding the support at $ 143.5.

However, after a jump of almost 7% in three days, it reversed its downtrends and changed its 20-50 SMA as immediate test support levels.

At press time, LTC was trading at $ 156.6. The RSI sustained above the midline for the previous day. In addition, the DMI The lines showed a marginal bullish bias but a weak directional trend. The Squeeze the momentum continued to hint at the compression phase with low short-term volatility.

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Terra, Tron, Litecoin Price Analysis – Dec 23

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