The broader cryptocurrency market didn’t perform well in the last 24 hours. Consequently, altcoins like Litecoin, Tron, and MATIC declined over the course of one day after hitting their separate landmarks.
Likewise, near-term pointers for all these cryptos refocused on dwindling bullish influence.
Litecoin Price Analysis
Over the last seven weeks, LTC has consistently risen by bouncing between climbing lines. This rise has resulted in an 82.2 percent return on investment for the cryptocurrency over the last 44 days. The purchasers’ enthusiasm strengthened during the last week as they broke through the $225 barrier.
Furthermore, on the same day that Bitcoin reached an all-time high, LTC reached a 25-week high of $295.7.LTC was trading at $258.8 at the time of publication, with a weekly return of over 28%.
TRON Price Analysis
After wobbling between the two channels northbound, TRX expanded noticeably. The blockchain-based operating system has been on the rise for the previous six weeks, with a 44-day ROI of 27 percent. As a result of the rise, the price reached its 54-day high on November 10th.
The bears, on the other hand, did not fade and continued to demonstrate opposition in the upper channel. As a result, after a 3.51 percent drop in the previous 24 hours, the price returned to trend and sold at $0.10692. Despite the bullish momentum being opposed by the bears, purchasers found good support at $1.0335.
The shot-term analysis rounded out the afforested analysis by depicting dwindling bullish power.
MATIC Price Analysis
MATIC has been noting noticeably higher low points since October 12th, while forecasting a bullish future. The monthly return on the digital token was over 38%. As a result, on October 29, the price soared to a 5-month high. The bears then made sure to maintain their resistance around $2.093 and drove the price lower.
The token has dropped 21% in the last nine days as the price has moved between parallel south-bound channels. As the sellers called into question the imminent resistance level at $1.882, the bulls appeared to lose power. MATIC was trading at $1.679 at press time, down 3.51 percent in the previous 24 hours.
If the negative trend continues at this pace, bears will be looking for support around the $1.6 mark. Even the near-term technical was not in favor of the bulls.
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