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Litecoin‘s charts showed that LTC was still caught in a strong downtrend, one that had not yet slowed down. Polkadot registered a potentially bearish pattern, one that could set up a sharp drop for the cryptocurrency in the coming days. Finally, Steem’s charts indicated that it could be heading further lower.

Litecoin [LTC]

Litecoin, Polkadot, Steem Price Analysis: 7 September

Source: LTC/USD on TradingView

Litecoin tumbled alongside Bitcoin, and then tumbled some more, as it faced significant selling pressure.

In the sessions marked by the cyan arrows on Litecoin’s chart, a support level tested, then lost, on the back of very high trading volume was observed. This showed that Litecoin was still dominated by fear in the short-term.

Aroon underlined an unbroken downtrend over the past few days. The Aroon Up (orange) had not attempted to cross up above the Aroon Down (blue), a sign of the downtrend still retaining some strength.

Polkadot [DOT]

Litecoin, Polkadot, Steem Price Analysis: 7 September

Source: DOT/USDT on TradingView

Polkadot can be viewed as one of the cryptosphere’s disruptors of the old order. It broke into the top-10 cryptocurrency list with force and had a market cap of $3.6 billion, at press time. DOT held on to its spot for a lot longer than many cryptos that gained a toehold in the top 10 in the past.

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However, DOT seemed to be poised for another drop in value. In relation to the rest of the market, Polkadot might not be a big loser, however, as many altcoins still struggled in the grip of the bears.

DOT was forming a possible inverted cup and handle pattern on its 1-hour chart. If validated, DOT could visit prices as low as $3 or $2.5. At press time, DOT was trading beneath the $4.5-level.

The RSI showed a value of 43, a figure which denoted bearishness.

Steem [STEEM]

Litecoin, Polkadot, Steem Price Analysis: 7 September

Source: STEEM/USDT on TradingView

STEEM was ranked 124th with a valuation of $63 million.

At the time of writing, STEEM faced stiff resistance around the 20-period moving average. The Bollinger Bands were wide open, indicating that the crypto-asset has been quite volatile recently. The bands were not beginning to tighten, underlining that downside was likely.

STEEM could drop lower than the $0.1692 it was trading at to find the next level of support at $0.1524.

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A descent further could see the price test the support at $0.12.




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