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Litecoin, ETC, HBAR price analysis: 8 July

For many of the altcoins, the past few days have been very promising. While Bitcoin continues to remain below $9500, many popular altcoins like Litecoin and Ethereum Classic have registered significant gains in the past 48-hours.

Source: Coinstats

The king coin, however, at press time was trading at $9287 with a 24-hour trading volume of $5.9 billion.

Litecoin [LTC]

Source: LTC/USD, TradingView

Litecoin currently occupies the 8th spot of CoinMarketCap’s list with a market capitalization of $2.9 billion. In the past 48-hours, the price of Litecoin registered a surge of close to 11 percent. At press time, LTC is being traded at $44.75 and has a 24-hour trading volume of $1.6 billion. If the price were to continue to rise, Litecoin’s price is likely to be met with resistance around $45, with a another strong resistance at $46. However, there is a strong support for LTC’s price at $41.3.

The MACD indicator for the coin has undergone a bullish crossover and signal increased bullish sentiment for the coin. The RSI indicator echoes a similar sentiment as it continues to remain in the overbought zone. Litecoin was recently in the news after Cardano co-founder Charles Hoskinson reached out to Litecoin co-founder Charlie Lee on Twitter inviting Lee for a potential cross-chain collaborative effort.

Ethereum Classic [ETC]

Source: ETC/USD, TradingView

Ethereum has also seen its price register substantial gains in the past two days. At press time ETC is being traded at $6.3 after having surged by over 17 percent since July 6. Ethereum Classic’s, the next strong point of resistance is at $6.8 and has two strong supports at $5.6 and $6.2.

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The EMA ribbons have settled below ETC’s present trading price and are likely to offer support if the price were to fall. The RSI indicator continues to show strong bearish sentiment and remains in the overbought zone. In terms of developments within the ETC ecosystem, there hasn’t been much apart from the Phoenix hardfork on May 31.

Hedera Hashgraph [HBAR]

Source: HBAR/USD, TradingView

Unlike the previous two altcoins, the price action for Hedera Hashgraph wasn’t as promising. HBAR registered a minor price change in the past 48-hours, a surge of only 3.2 percent bringing its current trading price to $0.040. If the uptrend were to pick up momentum the coin is likely to move towards the $0.044

The Bollinger Bands for HBAR have contracted slightly implying lower levels of volatility and the MACD indicator has undergone a bullish crossover.

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Linda Hopkins

Linda is one of the oldest contributors to Sunriseread. She has a unique perspective with regards to business and technology. She aims to empower the readers with the delivery of well-written news pieces, and most importantly, she always tries to bring the news quicker to the readers.

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