Litecoin and Chainlink have been deeply affected by today’s dips. Let’s examine the daily performances of these two cryptocurrencies.
Litecoin (LTC) price analysis
Litecoin broke the $157 resistance on June 18 and lost 9.7% of its price last week. Traded at $148 at the time of writing, LTC defends the resistance at $144.5. LTC’s market cap fell 6.65% in the past day to $9.8 billion.
Bollinger Bands show that at the time of this writing, increased market volatility can cause sharp price moves forward.
Chaikin Money Flow remained in bearish territory and pointed to the downside as capital outflows continued to outpace inflows. The MACD lines remained in the downtrend that occurred on June 16 as the price has fallen steadily even as they move close to each other during this time.
Sharp downward price action can be expected for the coin, in which case it could find support at $130.
Chainlink (LINK) price analysis
Chainlink is down 8% in the last 24 hours after recovering by June 15. Having broken the $21 support level in the last 48 hours, LINK may decline below the $19 support level.
LINK is trading at $19.66 at the time of writing. The Awesome Oscillator confirms the bearish trend that started on June 16. The Bollinger Bands seem to be moving away from each other, indicating that volatility could increase in the coming days.
The MACD turned bearish on June 16 and at the time of this writing, the market still looks like bears.