Bitcoin [BTC] and Litecoin [LTC] Price Analysis: In a tale of two coins, BTC rises as the silver coin falls

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: In a tale of two coins, BTC rises as the silver coin falls

April 24, 2019

Bitcoin [BTC], the largest cryptocurrency in the ecosystem, was at press time, priced at $5625.40, with a market capitalization of $99.4 billion.

Litecoin [LTC] however, did not share the same good fortune, as the virtual asset plummeted by 6.08 percent over the past 24 hours. The trade volume garnered was about $2.9 billion and the coin was valued at $74.043.

Bitcoin one-day chart

Source: Trading View

Bitcoin’s [BTC] one-day chart had been profoundly bullish since the start of 2019, as the coin witnessed steady growth. The recent price surges extended the valuation from $4225.60 to $5311.40 and it was followed by another uptrend from $5311.40 to $5615.40. The coin breached multiple important resistances at $5000, $5200 and $5400, which could be substantial in the upcoming period.

The Parabolic SAR remained bullish as the dotted markers hovered below the candlesticks.

The Awesome Oscillator indicated active bullish momentum for the coin as the green bars flourished in the charts.

The Chaikin Money Flow line remained above the zero line which implied that the capital flowing into the market was higher than the capital flowing out.

Litecoin one-day chart

Source: Trading View

Litecoin’s one-day chart was pretty bullish too, until the devaluation after the major hike. The coin had an uptrend from $62.539 to $92.512, but all went downhill from there. The downtrend stretched the valuation from $92.512 to $82.995.

The Bollinger Bands were diverging on the charts, indicating a volatile period for the coin.

The Fisher Transform line suggested bearish signals for the coin as the blue line remained under the red line.

The MACD line indicated a continuing bearish trend for the coin as the red line hovered above the red line.

Conclusion

Bitcoin [BTC] remained on a bullish course in the market, while Litecoin [LTC] succumbed under the pressure of the bears.

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