Solana, Litecoin, Cosmos Price Analysis: 07 November

At press time, many of the alts had been buying and selling in inexperienced within the final 24 hours. Altcoins like Solana, Litecoin, and Cosmos noticed each day features whereas their near-term technical indicators flashed combined alerts. After following a month-long bullish trajectory, Solana struck its ATH and confirmed indicators of easing bullish momentum.

Whereas alts like Litecoin and Cosmos confirmed indicators of revival as their technicals pointed at easing bearish momentum.

Solana (SOL)


TradingView, SOL/USD

Since 6 October, the SOL worth motion was northbound after endeavor a bullish trajectory and oscillated between the parallel strains. The ‘good contract platform’ registered a staggering 64.4% and 31.2% month-to-month and weekly ROI, respectively.

Consequently, the value marked larger highs and ruptured the higher trendline to strike its ATH at $255.9950. After this, it witnessed a slight pullback because the near-term indications pointed at easing bullish affect. If the bears can display sustained strain, the value might even see a correction by falling again into the pattern. At press time, SOL traded at $251.12.

The RSI dipped from the overbought area to the 62-mark. This plunge notably depicted easing bullish momentum. Moreover, MACD and the AO histograms displayed pink alerts and reaffirmed the reducing shopping for energy. Furthermore, DMI strains continued to desire the consumers, however their directional tendencies reiterated the reducing bullish energy.

Litecoin (LTC)


TradingView, LTC/USDT

For the reason that starting of October, LTC bulls displayed their vigor as the value rallied by almost 29% to hit its five-week excessive on 21 October. After which, the price-action witnessed a blip because it fell to its two-week low at $171.1. Since then, the bulls had been once more eager on sustaining strain as the value registered an 8.31% achieve over the previous ten days. Alternatively, LTC bears have proven resistance on the $203-mark.

The near-term technical indicators obliged the above observations by flashing a desire for elevated shopping for energy. At press time, the altcoin traded at $198.5.

The RSI noticed a surge within the final 24 hours, depicting an rising shopping for energy. Moreover, the AO and MACD readings affirmed the earlier evaluation. Nevertheless, the ADX stood on the 10-mark, indicating a profoundly weak directional pattern.

Cosmos (ATOM)


TradingView, ATOM/USDT

After hitting its one-month excessive on 27 October, ATOM witnessed a pullback and registered a 2.7% loss on its weekly charts. The bears gathered momentum, as confirmed by the 4-hour 20-50 SMA. In consequence, the value touched its two-week low on 6 November on the $34-mark. Since then, ATOM bulls have proven indicators of revival because the near-term readings trace at reducing promoting energy.

The altcoin traded at $36.00 after noting a 1.52% achieve within the final 24 hours.

The RSI surged by 10 factors over the past day because it headed in the direction of the midline. Moreover, the AO flashed inexperienced alerts because it approached the zero line. Nevertheless, the DMI strains confirmed a continued desire for the sellers with considerably weak directional traits.

Comments (No)

Leave a Reply