Litecoin, Tron, XRP Technical Analysis on 8th September 2020

The collective cryptocurrency market cap stood at $329 billion at the time of writing. Bitcoin and its peer altcoins were observed to be in a consolidation …

The collective cryptocurrency market cap stood at $329 billion at the time of writing. Bitcoin and its peer altcoins were observed to be in a consolidation phase oscillating within a tight range before a potential breakout on either side.

Litecoin [LTC]

Litecoin has crashed significant support levels following multiple pullbacks was now priced at $48.40 after a minor surge of 1.48% over the last 24-hours. At the time of writing, it recorded a market cap of $3.165 billion and a 24-hour trading volume of $2.627 billion.

The dotted markers of Parabolic SAR hovering above the LTC price candles resisted an uptrend to its immediate resistance at $58.9. The RSI was in the negative region depicting a sentiment of high sell-pressure in the market. If the bearish trend persists then bulls might have a thought time defending the support level of $40.16.

Tron [TRX]

Tron [TRX] posted significant gains over the past day soaring by 5.03%. However, its rebound level fizzled out at $0.0321 as it held a market cap of $2.302 billion and a 24-hour trading volume of $2.605 billion.

The red closing bars of Awesome Oscillator was indicative of bearish momentum in the TRX market. Chaikin Money Flow was also below the zero-line depicting the outflow of money from the coin market. A sign of bullishness gaining traction appeared bleak as TRX failed to hit its overhead resistance of $0.0347. The coin firmly held its support at $0.022.

XRP

After sliding to the fourth position, XRP has been making slow strides to breach overhead resistances. The coin rose by a minor 1.37% pushing its price to $0.2409. It registered a market cap of $10.84 billion and a 24-hour trading volume of $2.41 billion.

After a bearing crossover, the signal line of MACD continued to dominate its fate. However, Klinger Oscillator painted a conflicting picture as it appeared to undergo a bullish crossover.

Despite several attempts, the toke has so far failed to surpass the crucial $0.268 level of resistance. If the trend does not undergo a bullish revival, XRP could retest a crucial support point at $0.22, a level unseen since the last week of July.