Litecoin, Solana, NEO Price Analysis: 06 September
Certain altcoins took a bullish turn following Bitcoin and Ethereum’s upward movement. NEO logged an impressive 9.7% appreciation and was close to testing its immediate resistance of $65.71. Litecoin too gained by 6.8% amidst growing institutional interest. It could revisit $232.56 which is a multi-month high for the coin. Solana made minor gains while trading sideways on its charts, although it traded close to its all-time high of $143.77.
LTC appreciated by 6.8% over the last 24 hours. It was available for $223.45. The coin hovered near its multi-month high price level. With a continued uptrend, it could revisit $232.56 and then touch the $237.77 price mark.
However, technical indicators flashed mixed trading signals.
Green bars on the MACD histograms declined over the past trading sessions. A red signal bar was seen on the Awesome Oscillator, which was the result of a session in the red. Bollinger Bands showed slight divergence, which suggested lowered market volatility.
If the above notion holds true, LTC would find support on $218.15 and then if unable to sustain at that mark, it could dip to $194.13. Failing to find support over the $194.13 mark, LTC could push lower, to revisit its four-week low at the $160.58 price line.
Solana was consolidating on its charts near its all-time high mark. At present, it was trading for $142.55 after a 1.9% gain. Its overhead resistance lay at $143.77.
The 4-hour chart picked up on bearish price action for the alt. MACD displayed red bars on its histogram. Awesome Oscillator flashed red signal bars, although a last green signal only refers to one trading session in the green. Contrastingly, the Relative Strength Index remained bullish, slightly below the 60-mark.
If the abovementioned parameters hold true, and prices start to descend, the first support awaited at $125.95. The additional support line sat at a weekly low of $99.92.
NEO was priced at $63.78 and witnessed a sharp surge of 9.7% over the last 24 hours. It was trading near its three-month high and the immediate price resistance for NEO stood at $65.71. Technical parameters were also in agreement, and gave out bullish signals for the coin.
Awesome Oscillator displayed amplified green signal bars. Relative Strength Index was bullish as the indicator stood slightly below the 75-mark.
Chaikin Money Flow was also positioned above the half-line indicating an increase in capital inflows. A price reversal would mean that NEO would dip to find support near the $56.27 price line. Failing to sustain over that price level, it could drop to its three week low of $49.45.
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