Price analysis of ethereum and litecoin

Although the overall market situation has improved in the past week or so, as the amount of bloodshed has declined and many cryptocurrencies have recovered considerably from a lower depth, they continue to struggle in a challenging environment.

In particular, if not most coins/tokens, their number is still below 20; the 50- and 200-day moving averages depict an unfavorable technical picture and confirm the main trend, which is still a lower trend such as litecoin LTC

In the past few months, we have tried to provide readers with some clarity and levels that investors/traders can monitor, and may find it helpful to try to harness the landscape in order to avoid vandalism. Emphasize areas of risk management by adhering to the recommended level of potential resistance and supporting various names.

More specifically, we have made it very clear that in the short term, the 20-day moving average has proven to be a reliable direction in the past few months, and despite the price increase, there has been no change or change. From their recent lows.

Behind us, let's take a look at the actions of eth coin and LiteCoin, both of which continue to demonstrate and validate our reference to the importance of their 20-day SMA action through the chart below.

As we can see from the above Ethereum chart, ETH continues to trade below 20 (yellow line); 50 (blue line) and 200 (red line) daily simple moving average. In addition, we can also see that since mid-May, ETH's 20-day SMA has provided headwind/resistance in four (4) separate occasions, and the shaded box indicates that ETH cannot clear the obstacle and 'stick/HODL' to So far.

So, as we pointed out in many previous articles, investors/traders should wisely further monitor the short-term 20-day moving average, not just for ETH, but for investors/traders. Any and all names. You may be following or having a current position to get further clues/evidence about the direction. Unless these conditions/developments change or change, we will continue to emphasize 20-day SMA for short-term purposes. The eth market have great potential.

Looking ahead, the following levels may provide some directional clarity for investors/traders and may wish to use them as a guide.

If at any time in the next few days/weeks, ETH is able to liquidate its 20-day moving average, currently living at 470 and can “stick”, this development, if implemented, will encourage a short-term start. Perhaps more importantly, if ETH becomes the top of the 493 number, then such development may open the door to the 500-545 area, which is also the decline we found in the 50-day SMA (534).

On the other side of the ledger, the investor/dealer may wish to use 440 as the primary area and the 400-420 area as the secondary level of potential support.

However, when we tap the keys on the keyboard, ETH is still controlling its 20-day moving average.

Nothing, like ETC, LiteCoin trading continues to be in a similar way, LTC trading is below all of its moving averages, and continues to fight its own 20-day SMA, which is now demonstrated by the daily chart above. .

Similarly, LTC has so far failed in three (3) different occasions to clear its 20-day SMA after mid-May, and found ourselves in trouble when we wrote.

Looking ahead, potential resistance is at 90 and 97 and 103 levels, while potential short-term support can be found in the 77-78 and 70-73 regions.

Undoubtedly, ETC and LTC are currently fighting and continue to find resistance/resistance in the 20-day SMA. Unless they are able to clear the initial obstacles, it will be difficult to gain traction and upside momentum.