Litecoin witnessed a downside break from the parallel channel and fell below $ 156.75. Monero is expected to move sideways as tise compensation volumes and purchasing activity are suppressed.
Litecoin (LTC) price analysis
In the hourly time frame, Litecoin fell below its parallel channel and moved to another support zone at $ 157.5. On Balance Volume fell as the price dropped below the bottom trend line, but the index was recovering at the time of writing. The bullish trend in the stochastic RSI added a bit more optimism as LTC rallied from the $ 157 support line.
However, it’s hard to overlook the LTC’s bear market, and stronger clues may be needed to support a move above the momentary overall resistance. The increase in 24-hour trading volumes could be such a signal predicting an upward break in the charts.
Monero (XMR) price analysis
The 24-hour trading volumes on Monero decreased as the cryptocurrency could not break out of the $ 224.5 and $ 196.3 range. Bollinger Bands showed that volatility stays on the lower side as the bands are tightened. This also means that large moves are unlikely and XMR may continue trading within its current channel over the next few sessions.
The twin peaks setup rising above the Awesome Oscillator was rejected at the time of writing as a biased momentum in favor of sellers.