The cryptocurrency market has been bearish for the last 24 hours. Buyers have managed to shake off selling last week and through the weekend. But, the recovery has so far been limited by selling pressure. Cryptocurrencies are seeking higher consolidation to make way for the Bulls to gather momentum. Let us see Monero (XMR) and Litecoin (LTC) price analysis.
Monero (XMR) Price Today / USD
Monero (XMR) Defies Bearish Pattern For Better Corrections
According to cryptocurrency writer John Isige, Monero’s (XMR) price is recovering. The crypto token is embracing bullish momentum after gaining 1.3 percent. The digital token is finding support at 1.26 USD at the short-term ascending pattern trading above 130 USD. Moreno (XMR) formed a second trendline which was followed by a downward correction with support at 125 USD. Buyers should find support above the 130 USD level so that the XMR/USD pair can find balance, momentum at 140 USD and resistance at 150 USD. There are oversold patterns with support at 126 USD, and support at 122 USD, 116 USD and 110 USD.
Litecoin (LTC) Price Today / USD
Litecoin (LTC) is Now Trading Below The 80.00 USD Support
Litecoin (LTC) is extending declines and has declined below the 80.00 USD support level yet again. The LTC/USD pair has maintained trading beneath the bearish trendline for three weeks. The bearish trend is more likely to go on, especially after the overarching dips last weekend. Litecoin’s (LTC) 76.00 USD support level didn’t hold, but buyers found another support above 72 USD. A brief bullish pattern can be seen below the 84.00 USD resistance. The digital token is creating a bullish trendline that could lead to a rally to 100 USD.
Prices are highly bearish. The Simple Moving Averages (SMA) are sending bearish signs in the medium-term. Previous support at 76.00 USD must hold on until trade closes. But failure to hold will mean that the slightly 72.00 USD demand zone will be crucial to halting declines below the 70.00 USD support level.