Crypto currencies stopped depreciating in late January, after a nearly three-month depressive trend, and over the past several days, they have been running high, making huge profits, with Bitcoin rising to more than $ 45,000 today before a slight reversal. Ethereum and Litecoin have shown some bullish momentum and recently, the bullish trend may be reversing, but they are deciding whether buyers will continue to have a big bullish trend, whether they are facing upward indicators now, or if. Depression continues.

Ethereum Daily Chart Analysis – ETH faces upwards of 50 SMA

Ethereum has been bullying since August and is close to $ 5,000 in early November. However, it has not been able to set that standard, and it has been declining ever since. The retreat is down, shows the 20 daily SMA (gray), during which time it acts as a protest. ETH / USD fell below $ 2,200 last month, but rose to $ 1,000 in the last few days, with buyers appearing again.

Last week, we saw a loss of over 20,000 ETH coins worth more than $ 322 million in an attack on the Wormhol Bridge protocol that connects Ethereum and Solana Blockchain. This was the second largest hacking in the DeFi sector. Ethereum founder Vitalik Buterin has announced plans to address the issue of elasticity and gas by adding blockbuster marketing behavior in a strong fork, which will begin soon. However, the market sentiment is currently driving Ethereum prices, and buyers are now experiencing a 50 day SMA. If 50 SMA rejects and 20 SMA turns into support, we can try to buy ETH there.

Litecoin Daily Chart Analysis – LTC faces a $ 140 support / resistance zone


LTC remains in the hidden zone

Litecoin failed to push above the $ 300 level in November, after rising rapidly, and has lost two-thirds of its value in the market over the past three months. But with the last $ 100 support zone, the LTC has rebounded, and we are now seeing an attempt by LTC buyers to reverse the trend.

However, they are facing an earlier support zone of more than $ 140, which could turn into a protest. Litecoin has reason to collect after the MimbleWimble (MWEB) upgrade, which should make Litecoin more scalable and secure. Mineral hashtags for Litecoin have been growing steadily, but market sentiment is also the main driver here, and this will be a limitation for Litecoin.



By admin

Leave a Reply

Your email address will not be published. Required fields are marked *