The major pump the altcoin market was on seemed to be taking a break, at the time of writing, with Litecoin, BAT, and Zcash all heading towards a resistance zone. However, each altcoin’s near-term future is likely to be different considering the setup.
At press time, Litecoin stood at the 10th on CoinMarketCap’s charts with a market cap of $2.7 billion. A few months ago, LTC was just under the top 5. However, with its recent price movement, the coin has climbed down the ladder, with the same supported by the null volatility Bitcoin was seeing.
With Litecoin being the silver to bitcoin’s gold, it is obvious that the price is still stuck at $42.61. With the crypto’s price testing the $42.64 resistance for the second time, things might be different, especially with the MACD indicator heading from below the zero-line and towards it. Should this level be breached, the target is $43.89. However, if it doesn’t, then a logical move would be towards 41.84 or $42.64.
Basic Attention Token [BAT]
BAT aka Basic Attention Token seemed to have broken the downtrend [dotted line] and was on an uptrend, at press time. With the price breaching the $0.269 resistance, the question that remains is if this breach will sustain itself above the aforementioned level.
With each token priced at $0.2669, BAT had a market cap of $400 million. Further, the 33rd largest cryptocurrency in the market was noting a 1.35% decline over the last 24 hours.
With Stochastic RSI heading towards the oversold zone, things might seem bullish, provided the indicator doesn’t venture into the oversold zone. With a boom in DeFi, BAT seems to have garnered a lot of attention as it became the most used token on DeFi at a point.
With planned hardfork going according to plans, Zcash stood at 26th on CoinMarketCap’s charts, with the crypto having a market cap of $561 million while noting a 0.21% hike over the last 24 hours.
The price saw a bounce from $56.87 and looked like it was heading towards the immediate resistance at $62.02. However, it seemed to be facing a block at $58.61. Further, the RSI also showed a similar block at 48.36, just below the neutral zone.