Are Ethereum ETH and Litecoin LTC starting to decline ?

After declining in November, cryptocurrencies tried to make significant changes in late January, which failed and crypto prices fell again this month. The escalation of the Ukraine crisis has had a negative impact on financial markets, which have been weighing on risky assets, such as stock markets. Cryptocurrencies took another dive, but this time the downtrend seems to have stopped at or below January, indicating that the bearish period is over and the bullish run of Litecoin and Ethereum is imminent.

Litecoin Daily Chart – Holds back over $ 100 support

 

LTC is currently facing a 100 SMA.

Litecoin’s mimbleWimble upgrade has not raised much interest in increasing measurement and security, and the trend in LTC / USD has been weak since November. Litecoin today tweeted: ‘Note: #Litecoin has been declining for more than 10 years #Facebook Down’.

That’s good news, but LTC / USD tested its $ 100 support last week, but could not break below that in January. Vendors stabbed the support zone but there was nothing close to it, so there was no rest. This week, we are seeing a dramatic change, so LTC sellers have not been able to break the $ 100 support zone. LTC now faces a 50-day SMA (yellow) which is the first test, and the support and defense zone is over $ 140.

Ethereum Daily Chart – Buyers push ETH over $ 3,000

 

If Ethereum closes above the 50 SMA today, it will be a sign of bullying

Ethereum is the second-largest cryptocurrency in the market capitalization and the first is VL-blockchain with blockchain applications. However, this has also caused Ethereum congestion and high gas charges. Ethereum is moving towards a faster and more environmentally friendly POS system, with Ethereum 2.0 and Vitalik Buterin said to be trying to increase blockbuster marketing features. But for now, this remains a major problem for Ethereum.

This also led to a decline in the crypto market, which kept Ethereum afloat until the end of January, but then we saw a dramatic change that pushed the price up to 50 SMA (yellow) on the daily chart. Although that average price was rejected twice and the decline continued again. At the moment, however, the ETH / USD is moving upward, indicating higher lows, which is a sign of bullying. The price has now moved above the 50 SMA so buyers are now responsible here as well.

ETH / USD

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