Bitcoin

Dogecoin rebounded from Wednesday’s drop, with the meme coin briefly climbing back above $0.090 in today’s session. However as the day progressed, bearish sentiment heightened, with price declining. Litecoin was also down today, and continues to trade near a multi-week low.

Dogecoin (DOGE)

Dogecoin (DOGE) was volatile on Thursday, as prices moved back into the red, after an earlier rebound.

DOGE/USD fell to an intraday low of $0.08685 in today’s session, following an earlier high of $0.09297.

The meme coin has been volatile in recent sessions, after a week-long bull run was snapped on Wednesday.

Looking at the chart, today’s candlestick has printed a large doji, with dogecoin now trading close to its open price.

In addition to this, the relative strength index (RSI) has found a floor at the 53.00 mark, which has helped maintain the uncertainty.

Should this floor give way, there is a good chance that DOGE will move towards a support point at $0.08000.

Litecoin (LTC)

Litecoin (LTC) traded near a three-week low in today’s session, as the token moved below $100.00.

Following a high of $101.95 on Wednesday, LTC/USD plunged to a low of $89.38 earlier today.

This is the lowest level that litecoin has hit since March 31, with bears now potentially targeting a long-term floor at $86.00.

As a result of today’s decline, the RSI has fallen to a point of support of its own at the 45.00 mark.

If price strength were to fall below this point, it is likely that LTC could head closer to $80.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story

Do you expect further declines in litecoin this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Articles You May Like

Understanding Florida’s economic boom
Immigrants really do get the job done
MBTA’s $1B deal refunds BABs, addresses FTA safety concerns
Offenders to be released early to avert UK prisons crisis
UK economy grows by 0.4% in May