The bull market is starting and most altcoins broke previous ranges of resistance that had countered their rise prior to now. Litecoin was buying and selling inside a variety and regarded prone to drop beneath $150, whereas FTX Token and Decred had been bullish on the worth charts.
Litecoin [LTC]
Supply: LTC/USD on TradingView
The longer-term vary for LTC is bounded by $123 to the south and $180 to the north, with $149 being the 50% degree inside this vary. This mark is a very powerful degree throughout the vary, and might shed info concerning a shift in momentum.
On the time of writing, the Superior Oscillator shaped a bearish twin peaks setup and crossed over into bearish territory to indicate downward momentum.
A session shut beneath the $147-$150 area for LTC would seemingly spell a transfer to $135 for LTC. Nevertheless, the pattern of the previous week has been bullish and the worth has not signaled a reversal of this medium-term pattern as of now.
FTX Token [FTT]
Supply: FTT/USD on TradingView
FTX Token was much more simple. Whereas the MACD hinted at a dip towards $13, the short-term bearish momentum would possibly have already got ended as the worth dipped to $14 and began recovering.
For a lot of weeks now, FTT’s resistance ranges have been plotted utilizing Fibonacci extension ranges, and FTT broke previous every certainly one of them. This time the 62% extension degree for FTT lies at $19.23- a transfer that would take a few weeks to finish.
What was sure was that demand from patrons was current, because the OBV rallied alongside the worth. A transfer above the earlier excessive at $15.48 is important, whereas a rejection at this mark would symbolize a double high and level to a retracement.
Decred [DCR]
Supply: DCR/USDT on TradingView
Decred discovered robust help on the 23.6% retracement degree and the RSI was as soon as extra on the rise, after a dip towards impartial 50. Momentum was as soon as once more in favor of the bulls within the short-term and additional features are seemingly.
The earlier excessive within the $95 area is probably going, which can be a historic degree of resistance. Past this mark, the $110 degree is the following important resistance.
