Litecoin News: The global crypto market has lost 2.29% of its total value in the last 24 hours as volatility intensifies again. Bitcoin is also down 1.29% and continues to trade below the $35,000 resistance level at the time of this writing. We take a look at what’s happening on the Litecoin and Dogecoin front today. Let’s examine together whether LTC and DOGE will rise.
Litecoin (LTC) price analysis
Litecoin price has dropped 2.27% in the last 24 hours. The cryptocurrency lost 4.9% of its value last week. LTC lost the $130 support yesterday after trading in the price channel for several weeks. However, there are slight rebounds on the 4-hour chart and LTC is trading at $131.3 at the time of this writing.
The divergence of Bollinger Bands indicates that steep price movements can be expected in the asset’s market as it becomes volatile.
After hovering near the median line for several days, extremely strong selling pushed the Relative Strength Index (RSI) down. Although a small increase is observed at the moment, the indicator is in the bearish zone. Further selling pressure could send the cryptocurrency into the oversold territory.
Bearish momentum has dominated the altcoin’s price chart since July 7. However, the appearance of a green bar at the bottom of the Awesome Oscillator’s histogram means that the bullish momentum is creeping up once again. While LTC is trading near the $130 support level, it is unlikely to break above the $149.8 ceiling any time soon.
Dogecoin (DOGE) price analysis
DOGE broke out of the price channel on July 7 and broke below the $0.221 support and is trading at $0.201 at the time of this writing. May ATH is down 71.6% from 0.731, with a breakeven multiplier of 3.61.
The dotted line of the Parabolic SAR has hovered above the candlesticks on the 4-hour chart over the past few weeks with short swings as the coin’s price action mainly follows a bearish trend.
Will DOGE rise?
Selling pressure largely dominated the market for prank-based cryptocurrencies in July as the Relative Strength Index (RSI) remains below the median line. However, the indicator moved into the oversold zone yesterday and we may see price consolidation or reversal in the future.
The dominant bearish momentum on the altcoin chart was also evident with the growing red bars below the Awesome Oscillator histogram. With the $0.221 support now acting as resistance, the asset could find more support at $0.162 if it drops to its early June levels.