Litecoin (LTC) is at the beginning of a longer-term uptrend. The trend has already taken shape with the 55-day moving average acting as the first long-term support at around $100. The scenario is the same in intra-day trading, where we see the 21-day moving average cross above the 55-day moving average forming a golden cross, a strongly bullish pattern. Volumes too have increased in the last 24 hours, indicating increased investor interest in Litecoin.
An analysis of Litecoin on different online forums paints a picture of growing interest in this crypto. In the last 24 hours, Litecoin has been mentioned about 21 times on different online platforms. Out of these 66% of them are positive, a slightly higher value than yesterday’s figure. This is an indicator that there is a strong bullish momentum around Litecoin at the moment. However, there is a sizeable number of people online, around 33% who still feel that Litecoin could reverse, probably after the Litepay debacle. But overall, Litecoin is headed north. In the next 24 hours, with $170 acting as short-term resistance on the 100-day moving average.
In the longer-term charts, ZCash (ZEC) is still trading at low volumes. However, in the day charts, volumes are picking up. ZCash has already broken above the 50-day moving average. The 21-day moving average has already crossed above the 55-day moving average in intraday trading. That’s a strong indicator of a strong bullish momentum in the ZCash market at the moment.
A look at what people are saying about ZCash online paints a picture of increased buying momentum. In the last 24 hours, ZCash has been mentioned about 10 times on major online forums. Out of these, 80% of them are positive. Only 20% of participants believe that ZCash could turn bearish in intraday trading.
With such a positive momentum pushing it up, ZCash could possibly rally to around $350, which is the next major resistance level at the 200-day moving average. A break above that would be a confirmation of a long-term uptrend.
Vechain (VEN) is one of the highest potential coins cryptos at the moment. It is intertwining itself to the fiber of society, and wants to be part and parcel of everyday life. It is already headed in that direction with partnerships with global auto makers, logistics multinationals among others. So what is the current sentiment around Vechain at the moment?
In the last 5 days, Vechain trading volumes have edged higher from around $69 million to the current volume of over $85 million. This is in tandem with the price rise in that same period, having gained from $3.45 to the current price of $3.80. That’s a key indicator that there is a strong buying pressure in the Vechain market.
Going by the fundamental’s and Vechain’s increasing volumes, we can conclude that the sentiment is positive, and will the drive price even higher. $4 is possible in the next 24 hours or so.