Litecoin climbs higher and broke through the resistance level of $ 100. Waves faces strong selling pressure. Indeed cedes a level of support to the market declines after losing nearly 18% of its value in the space of five days. Finally, FTX Token exhibits bearish divergence on the charts and could see a drop to $ 4.8 shortly.
At the end of November, the LTC goes from $ 90 to $ 66. Then it climbs up to retest the $ 90 level as resistance and gradually came down to $ 71. Taking the $ 90 and $ 66 as the range, we can see that the mid-range would be $ 78.
The $ 78 and $ 80 levels were crossed a week ago. After nearly 72 hours of consolidation above the support level, LTC is exploding higher.
The long term trend behind LTCs was bullish. The reversal of resistance to support at $ 80 highlights the likelihood of a move higher.
LTC subsequently erupts beyond the psychological level of $ 100. It recently shows a bearish divergence between price and momentum. It could dip further into the liquidity region at $ 105- $ 110.
WAVES forms an ascending triangle pattern, a bullish pattern that typically sees a breakout to the upside. In this case, the less likely downside breakout is forced due to the increased sell volume on the cryptoasset.
OBV notes a short-term increase in sales volume. The price closes below the uptrend line, retests it as resistance. It fell below the support level of $ 8.18.
Following the loss of this level, WAVES loses 13% of its value and it could be set for more losses. The next level of support was $ 6.63. The $ 7.63 level has been significant in recent weeks, but the market declines were too big to stop there.
FTX Token [FTT]
Another bearish divergence between price and momentum can be seen, this time for FTX Token. The price is higher but the MACD There is already starting to decline to suggest a weakening of the bullish momentum.
Marked by the short lines, there were possible supports for the TTF at $ 4.79 and $ 4.65. These are the levels where the price could rebound. A move below these could see FTT retesting the $ 4.49 support level.
There was some confluence with the ascending trendline support in the $ 4.5 region. So the TTF was to fall as low as that in the coming days. The trendline marked the FTT’s uptrend from $ 3.3 in early November.
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