LTC, ATOM Extend Declines, Hit 10-Day Low – Market Updates Bitcoin News
Litecoin fell for a third session in a row on Thursday, as the token continued to move away from recent highs. Cryptocurrencies have been mostly lower in recent days as traders continue to fear a global recession. Cosmos also remained in the red during today’s session.
Litecoin (LTC)
Litecoin (LTC) fell to a ten-day low on Thursday, with the token falling for a third session in a row.
After a high of $79.20 on Wednesday, LTC/USD moved to a low of $74.82 earlier in today’s session.
As a result, the token fell to its lowest point since November 29, when prices hit a low of $73.39.
Looking at the chart, it appears that Litecoin bears are hoping to push prices towards a floor of $73.00.
This appears to be a possibility, especially with the 14-day relative strength index (RSI) quickly approaching a floor of its own.
The index is currently trading at 57.10 and looks set to move towards a support point at 53.00.
Cosmos (ATOM)
Another notable token on Thursday has been cosmos (ATOM), which fell to a ten-day low earlier in the day.
ATOM/USD fell to a low of $9.52 on Thursday, before bulls re-entered the market and bought the latest decline.
Today’s bottom saw the cosmos trade at its lowest level since November 28, which was the last time the token hit the floor at $9.45.
At the time of writing, ATOM has largely recovered, and is currently trading at the $9.71 level.
In addition to this, the RSI has bounced off a separate floor of 39.50, and is currently tracking at 41.40.
Should momentum continue in an upward direction, ATOM bulls will likely aim for a move above the $10.00 mark.
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Do you expect the cosmos to move above $10.00 this week? Let us know your thoughts in the comments.
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