Home Litecoin Ethereum, Liteccoin Price Prediction – ETH Stuck Between MAs, Litecoin Bearish Below MAs

Ethereum, Liteccoin Price Prediction – ETH Stuck Between MAs, Litecoin Bearish Below MAs

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Cryptocurrencies turned bearish earlier this month, after being fairly bullish for greater than a month in August. It appeared just like the bearish occasions had come to an finish after the main crash in Could, which lasted till late July, however the bearish momentum resumed once more in September, because the crackdown on cryptos accelerated. Litecoin is wanting extensively bearish whereas Ethereum, which was exhibiting nice indicators of demand till early September, has turned down as properly, and now it appears to be caught, so let’s take a look at these two cryptos.

Ethereum Evaluation – ETH/USD Bouncing Between MAs

As already talked about, Ethereum was wanting fairly bullish from late July till early September. Ethereum appreciated round 250% throughout that interval, whereas Bitcoin didn’t even double in worth throughout the identical interval. The London Exhausting Fork or Ethereum 2.0 improve, which was launched not too long ago, helped enhance the sentiment additional, together with the demand for each the Ethereum community and the coin, which pushed ETH/USD above $4,000.

ETH/USD

However, the second crash within the crypto market got here within the second week of September, and the second leg of this bearish transfer got here final week. Ethereum broke under the 20 SMA (grey) on the primary decline and fell under the 50 SMA (yellow) on the second decline final week.

Now, the 50 SMA has changed into resistance for Ethereum on the high, with the 20 SMA including additional energy now, after catching up. The 100 day by day SMA (inexperienced) has changed into assist on the backside, and Ethereum has bounced between these MAs a couple of occasions now. Consumers absolutely wish to get going, however the bearish sentiment available in the market is holding them for the second. Nonetheless, I feel that purchasing on the 100 SMA at round $2,750 is an effective commerce concept, with a cease under the 200 SMA (purple).

Ethereum Evaluation – ETH/USD Bouncing Between MAs

Litecoin buying and selling under $150

Litecoin however, has been wanting fairly weak, as we talked about within the 2021 Litecoin forecast, and it hasn’t proven a lot stamina that would have pushed it increased. We noticed a leap in early September, which took the value above the 200 SMA, however the crash available in the market introduced it down once more. We noticed one other spike when GlobeNewsWire introduced that Walmart was going to simply accept Litecoin, which after all was not true. The worth has fallen under all shifting averages on this chart, and so they have changed into resistance, exhibiting elevated weak point, however the decline has stalled round $150.

The 50 SMA (yellow) has been the explanation for the cease on this space on the weekly chart. It has been appearing as assist for LTC/USD, and now the 20 SMA can be including additional energy on this timeframe chart. If these shifting averages get damaged, the opposite two MAs will supply a superb place to purchase Litecoin at round $100, which was the July low.

 

The 20 and the 50 SMA holding as assist




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