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27.06.21 Technical analysis of ETH / USD and LTC / USD – new low, but not yet continued

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On Sunday, I’m in the habit of focusing on Ethereum (ETH) and Litecoin (LTC), so we’ll throw ourselves into them today. As I said last time, the volumes on these altcoins were quite minimal and there was still a tendency to decline. This is quite a reliable indicator that something is going on. So the movement did take place, a new low was created, but the decline did not continue.

Alts has been developing almost identically to BTC for several weeks now, so when our king stopped under key support, ETH and Litecoin did the same. However, from a technical point of view, both alts clearly damaged each other, which we will show right away.

Current situation at 1D TF LTC / USD

27.06.21 Technical analysis of ETH / USD and LTC / USD - new low, but not yet continued

When we start with the Litecoin, we can immediately observe that we have a lower low, which of course makes the situation technically did not improve. On the other hand, the market did not beat the previous low so much, in relative numbers by about 10%. The new low was created at exactly $ 105, so the rebound began in close proximity to the first very strong level at $ 100.

The total loss for the time being is about 75%, so the spring is decently compressed. Tuesday’s candle closed like Pin Bar and we can see that Wednesday’s reaction was very dynamic and shoppers quite easily managed to pump Litecoin by about 30%. But around the S / R level of USD 144.51, there was a very strong rejection and the price fell back to USD 125.52 that day.

The rejection of the 144.51 USD is not so surprising, because the price here was last time many reflections in addition, Litecoin tended to have a daily close above the level. In any case, Litecoin hasn’t moved much since then, we’ve been around $ 125.52. What BTC will do is clearly expected, altcoins do not decide anything on their own.

As far as volumes, as I mentioned in the introduction, they were at an absolute minimum just before the sale and the tendency to decline still prevailed, which is really a signal that we only have peace before the storm. It came in volumes during the drop and subsequent rebound spike, but as you can see, nothing extra in context. There is no interest in altcoins at all, everyone is just waiting for BTC.

Indicators

The daily RSI fell below 30 points, but only very narrowly – 29.78 points. In fact, there is still plenty of room for a potential decline. As for MACD, a bearish cross came a few days ago. But now there is a tendency to achieve bullish cross again.

Current situation at 1D TF ETH / USD

27.06.21 Technical analysis of ETH / USD and LTC / USD - new low, but not yet continued

ETH naturally had a similar development to Litecoin. A very close new low was created and mainly the daily close was below the key level of USD 1,965. The decline does not continue, but the course remains below the surface and testing the level is definitely dismissive. All close day candles are just below the level, which looks more like a ready to continue the decline.

Otherwise, the total loss from all time high is already just over 61%, which is certainly enough and there is a good chance that the devaluation at ETH will continue. But this logically depends on the BTC market. Therefore, if there is a decline, the first potential level for reflection is $ 1,372. Historically, this is a fairly strong level and, in addition, there is a level original all time high.

Therefore, there should be at least some reaction here. However, if BTC spills hard, I wouldn’t rely on support to last. It simply depends on the circumstances, on the current dynamics of development. If there is more panic on the market, I see the first opportunity around the S / R level of $ 952.88, which is almost 50% down from current prices. Overall, about 78% of the impairment of ETH.

In terms of volumes, the same situation as on the LTC. First the minimum volume, then spike, when the sale took place. However, the volumes were not so significant. Rather above average in context.

Indicators

RSI has also created a new low, but the market is still relatively far from the 30-point mark. ETH is much stronger in this respect than the rest of the altcoins. In any case, there is still plenty of room for a possible fall. The MACD is just dominated by the negative momentum.

Litecoin and ETH in conclusion

Everything is now coming from the BTC market, Litecoin and ETH are obviously just copying it. Therefore, there is no point in inventing or fantasizing anything on altcoins until the king makes a fundamental movement, the alts will not move anywhere either. We can only monitor potential levels that can be considered an opportunity.

ATTENTION: No data in the article is an investment board. Before you invest, do your own research and analysis, you always trade only at your own risk. Cryptheory team strongly recommends individual risk considerations!

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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