Litecoin, Bitcoin Cash, ETC, Stellar Price Analysis: 07 April


In the last 24 hours, the overall sentiment dragged itself back to the ‘fear’ zone. Consequently, Litecoin, Bitcoin Cash, Ethereum Classic and Stellar revealed an oversold 4-hour RSI. S0, a short-term revival from their immediate support seemed likely in the next few days.

Litecoin (LTC)

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Source: TradingView, LTC/USDT

In its previous bullish rally, LTC grew in an ascending channel (white) on its 4-hour chart. This rally sprang after the alt matched its 14-month lows on 24 February. Meanwhile, the bulls found a barrier at the two-month resistance near the $131-mark.

Thus, a reversal from this mark caused an up-channel breakdown that pushed the alt below its 20/50/200 EMA. Now, a possible bearish crossover of the 20/200 EMA could propel a change in trend in favor of sellers.

At press time, LTC traded at $112.8. The RSI was deep into the oversold region at the 26-mark. So, a potential revival from this level would position LTC for a test of the $116-mark resistance.

Bitcoin Cash (BCH)

Source: TradingView, BCH/USDT

As the bullish phase heightened, BCH sharply rose to reclaim the lost $356-mark.

The latest retracement saw a falling wedge (white) that tested the $331-support. BCH lost over 12% of its value in the past two days. Any close upper trendline of the wedge can cause a patterned breakout towards the $356-level.

At press time, BCH traded at $334.9. The oversold RSI eyed to cross the 30 mark to enable any revival chances. The gap between the DMI lines had overstretched while the bears kept exerting pressure.

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Ethereum Classic (ETC)

Source: TradingView, ETC/USDT

ETC lost more than a third of its value from its February highs and dropped to match its monthly low on its trendline support (white, dashed). Then, the bulls took over and propelled a 108.8% growth towards the $52.2-mark.

Since then, it has been in a plunge phase that led ETC below all its EMA ribbons. As these ribbons undertake a bearish flip, the bears visibly depicted their edge. At press time, ETC traded at $39.92. The bearish RSI recovered above the 30 mark on its way up from the oversold territory.

Stellar (XLM)

Source: TradingView, XLM/USD

Ever since Stellar (XLM) struggled to overturn the $0.26 resistance, the alt swiftly declined towards its long-term support at the $0.16-level. Since then, in the last three weeks, XLM saw a solid up-channel rally that halted broke down from the $0.24-level. While the $0.2-mark stood sturdy, any close above or at the current level would affirm a morning star (bullish) candlestick pattern.

At press time, XLM traded at $0.211. Similar to previous altcoins, XLMs RSI reversed from the 19-mark as the bulls endeavored to test the $0.22-level.


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