Litecoin, Cardano Price Prediction – LTC in the Bullish Zone, ADA Shows Now Signs of Life
Skerdian Meta • 2 min read
While cryptocurrencies were turning bullish in October, Cardano and Litecoin aren’t showing any particular strength, especially Cardano which was declining the whole month and still continued to do so. The situation in Liteocjn wasn’t s bd but it was missing on the bullish momentum in the crypto market, so let’ shave a look at these two cryptos to see how they have been behaving recently.
Litecoin Daily Chart Analysis – Buyers Remain in Control
After the weak rally in early August, Litecoin was totally missing the bullish momentum in cryptocurrencies, which took some of them to new highs, such as Cardano as we will see below. During that time, the 200 SMA (purple) was acting as resistance below $200 for LTC/USD .
Even the two attempts at turning bullish failed pretty miserably. But in late October buyers finally decided to make a move, which took the price above the 200 SMA. The bullish momentum is still pretty weak in Litecoin, but at least buyers are in charge and they are pushing towards $215 now.
Litecoin has made some interesting partnerships that are advancing it in consumer finance and everyday payments, one of which is the one with Visa for the Litecoin visa debit card. The number of transactions has increased again to around 150,000 after a dip in September. So, the fundamentals are slightly impressive, which corresponds to the price action here, slightly bullish and we expect it to continue that way for the foreseeable future.
ADA Daily Chart Analysis – The Range Keeps Narrowing
The highs keep getting lower for Cardano
Cardano turned quite bullish during August, as the price pushed to new all-time highs. But, it reversed down in September with the crypto market has been bearish since then. The release of the Alonzo upgrade which launched smart contracts in September hasn’t helped improve the sentiment for the ADA coin much, so this crypto continues to trend lower.
Initially, during the crash in September the 50 SMA (yellow) turned into support on the daily chart, but it was broken and now that moving average has turned into resistance. All attempts higher have ended at this moving average which is pushing the price lower and now the 20 SMA is also providing resistance. So, Cardano remains slightly bearish until something happens.