PEPE price to drop another 15% as altcoin winter is only halfway finished

https://www.fxstreet.com/cryptocurrencies/news/pepe-price-to-drop-another-15-as-altcoin-winter-is-only-halfway-finished-202305311241

PEPE price is in a rough patch as the sell-off continues.
PEPE bears will try to enforce another 15% drop from here.
Expect to see some relentless selling until $0.0010000 is reached.

PEPE (PEPE) price is feeling the frost and cold of the altcoin winter that continues with some notable slides in price valuation in the altcoin space. After price action dropped below $0.0014700, traders must have understood that a turnaround would only occur at a high supportive level, which is still another 15% lower from where price action currently resides. Although the Relative Strength Index (RSI) is still low, expect some selling pressure with price action set to hit $0.0010000 before a turnaround emerges.

PEPE price proof that the RSI is not always the right indicator

PEPE price was stuck in a consolidation phase, which it was projected to really ride out until the last possible candle. Although it was a mild bullish breakout as the end result, the bulls did not enjoy their stay above $0.0014700 for long. Once price action started to show blips below that level, it did not take long for bears to come in and push price action below that level.

From a technical point of view, PEPE looks to be fishing for some support but needs to decline lower each time. On the chart only one real supportive area has decent prospects to undergird PEPE price.That is at $0.0010000 with the double bottom from May 12 as proof that it has already done that in the past. That means that bulls need to withstand another 15% decline before finally forcing a turnaround.

PEPE/USD 4H-chart

One element that could scare bears away preemptively is the RSI, which is quite stretched in the oversold area. Expect to see an earlier turnaround once no fresh bearish selling pressure is added to the current situation. Aquick U-turn toward $0.0014700 could appear with a very small possibility of making it up to $0.0016000 should that earlier mentioned level at $0.0014700 witness a bullish pop.

PEPE price action puts traders on the edge of their seats as pennant gets filled

https://www.fxstreet.com/cryptocurrencies/news/pepe-price-action-puts-traders-on-the-edge-of-their-seats-as-pennant-gets-filled-202305261324

PEPE price trades in marginal moves as the consolidation phase continues.
PEPE is poised to reveal on Friday which way the breakout will go.
With no real breaks above the pivotal level at $0.0014700, the verdict may favor the bears with a slide to $0.0010000.

PEPE (PEPE) price is entering the very last possible stage before finally determining whether bulls or bears have the winning hand in this poker game showdown. Analyzing the performances of past sessions and taking into account the Relative Strength Index (RSI), it would appear that the bears will win the game. Expect a breakdown soon of the green ascending trendline and price action heading to $0.0010000 if that is indeed the outcome.

PEPE price to drop 30% as bears go all in

PEPE price is trading in a very narrow and minor range that is even smaller this Friday than on Thursday. Bears and bulls both do not want to give way on their trading positions, and that means that the pennant will decide which way this tug-of-war will go. Seeing the already small slippages below the supportive green ascending trendline, it appears that bears might have the better and tighter upper hand in this.

PEPE price action is reflected in the RSI, which is still under par and even now is starting to tilt to the downside. On the 4-hour chart, it appears that lower highs will soon arrive. A divergence is thus afoot between what the chart is telling us and what the RSI is warning for. Expect to see the next break below the green ascending trendline to be a brutal one with a nosedive move quickly heading to $0.0010000.

PEPE/USD 4H-chart

From the looks of the volume chart, it appears that some buying has happened in the last four candles, while selling was only marginal. This could point to, after all, more bulls being in the trade, and the breakout could still head higher. If that unfolds, expect to see a quick sprint to $0.0020000 on the back of that bullish signal.

Ethereum price to outpace Bitcoin price as ETH jumps over key hurdle where BTC fumbles

https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-to-outpace-bitcoin-price-as-eth-jumps-over-key-hurdle-where-btc-fumbles-202305261138

Ethereum price breaks back above $1,800 on Friday in the ASIA PAC session.
ETH signals a bullish outlook with the RSI showing spare room to head higher.
Should ETH bulls cross above the green ascending trendline, expect to see a jump to $1,875.

Ethereum (ETH) price is working on its recovery after it dipped to a two-week low on Thursday. While Bitcoin price has failed to make a similar move and head back above $26,500, Ethereum is outpacing Bitcoin and has been able to push above $1,800. One hurdle is in the way now. The green ascending trendline must be overtaken again by bulls before heading to $1,875.

Ethereum price ultimately on trajectory to $1,930

Ethereum price slid below the green supportive trendline and made a two-week low on Thursday with nearly every crypto or altcoin component printing red numbers. Meanwhile, this Friday a small turnaround is noticeable, but not for everyone. Bitcoin price is still in the red, unable to jump above its recovery point, while Ethereum price has already advanced beyond that point at $1,800 and is primed to head higher.

ETH will need to cross back above the green ascending trendline in order to get that continuation going. Once that has happened, expect to see further follow-through higher that heads toward $1,875 near the 55-day Simple Moving Average (SMA). The Relative Strength Index (RSI) has ample room to do that and might even see a brief test at $1,930 in case bulls overshoot the profit target.

ETH/USD 4H-chart

Risk to the downside is coming from a possible rejection against that same ascending trendline. In case that holds as resistance, a firm rejection could send ETH back to $1,765 and flirt with a deeper loss. If that level breaks, a leg lower to $1,740 would print a new monthly low.

Even at current levels, Fantom price is still at risk of tanking 20% as FTM offers no upside potential

https://www.fxstreet.com/cryptocurrencies/news/even-at-current-levels-fantom-price-is-still-at-risk-of-tanking-20-as-ftm-offers-no-upside-potential-202305251407

Fantom price keeps its head above $0.32, while the risk of more downside hangs in the balance.
FTM price could still see some support at $0.30 though the road is open to $0.26.
A nosedive move could bring FTM near the 2023 low.

Fantom (FTM) price is at risk of imploding after bears have been able to break a substantial support this week. Bulls have vacated the premises and are not expected to pop up any time soon. With these trading conditions, Fantom price is setting itself up for a free fall that could easily go as far as $0.26 and bear a 20% devaluation.

Fantom price inclined to drop another leg lower

Fantom price got sucker-punched in the past trading sessions with a 10% decline, and the pain is not over yet. With bulls running for the hills, it appears that bears are going in for the kill here. Even though the Relative Strength Index (RSI) is deeply oversold, bears have little to no resistance from bulls to take this sell-off to the next level.

FTM is thus ripe for being knocked out and hitting the canvas. That knockout move would be a 20% nosedive plunge to $0.26. Certainly, once $0.30 is taken out, it will be a smooth and quick drop to $0.26, possibly even within just one candle of nearing a new low for 2023.

FTM/USD 4H-chart

Upside moves could and would only come with some positive headlines from global markets. The big driver at the moment is the US debt ceiling debate, which is stuck in a stalemate. Should there be a deal, expect to see a flight into risk assets with FTM primed to head and break back above the important $0.36 level where the 200-day Simple Moving Average, the red descending trendline and the monthly S1 support level all fall in line with one another.

Polygon price stuck in pennant as MATIC heads for an upside breakout to $0.96

https://www.fxstreet.com/cryptocurrencies/news/polygon-price-stuck-in-pennant-as-matic-heads-for-an-upside-breakout-to-096-202305251257

Polygon buyers and sellers are being pushed toward each other in tight trading range.
MATIC attempted a bullish breakout on Wednesday but failed.
Price action looks bullish again this Thursday with a possible breakout lifting MATIC by 10% in value.

Polygon (MATIC) price is currently trading sideways with great respect for the pennant formation that has been present since the beginning of May. With several attempts to the upside for a breakout and some minor dips to the downside, the final result looks to favor the bulls. With pressure building on the topside, a breakout could see a quick rally up to $0.96 with a 10% value addition in the process.

Polygon price to head higher if bulls can retain control

Polygon price has been behaving quite orderly within the ranges from the pennant being formed on the chart since the beginning of May. The pennant is pushing bears and bulls toward each other in a slow grind with lower highs and higher lows. A breakout is due anytime, and from the looks of it, bulls will favor the outcome.

MATIC needs to pop above $0.89, which is the current level to breach in order to break the red descending trend line on the topside. Traders already got long this morning in the ASIA PAC session when price action briefly touched the green ascending trend line. Once a breakout is noticed, expect more bulls to flock into the rally that will spiral up to $0.96 with a 10% gain in return.

MATIC/USD 4H-chart

The breakout could be smashed to the downside as overall bears have the upper hand with the 55-day Simple Moving Average (SMA) trading below the 200-day SMA. As both are nudging lower, a Death Cross is underway, and more bearish pressure could be seen. A breakdown to the downside would see a nudge back to $0.82 for a loss of 8% and a new four-month low.

Binance Coin price action alerts traders that a slide below $300 is forthcoming

https://www.fxstreet.com/cryptocurrencies/news/binance-coin-price-action-alerts-traders-that-a-slide-below-300-is-forthcoming-202305251128

Binance Coin price value at risk of being cut by 10%.
BNB could see a negative spillover from Binance LLC soon being investigated.
After the Reuters report on possible Binance breach of US financial regulations, the company has been trying to put up a smoke screen.

Binance Coin (BNB) price is feeling some negative pressure from the Reuters report that came out earlier this week. It revealed that Binance Exchange has been breaching US financial rules by mixing up company money with client deposits. While the news has settled, Binance LLC is creating negative pressure for itself as it refuses to respond to the allegations and instead tries to prop up the price action for BNB by issuing posts that refer to a bullish breakout soon for altcoins and crypto coins. Building a smoke screen is not the best idea here, and price action confirms this. Traders are sending Binance Coin lower and might say goodbye to $300 in the coming sessions.

Binance Coin price needs its parent company to come clean

Binance Coin traders do not accept the attempts of parent company Binance LLC to circumvent the Reuters report about commingling customer and corporate funds. While Binance is tweeting about the next possible bull run in crypto after China’s state television aired a program on crypto, it should rather tweet about the Reuters report and how it will deal with it. A clean and simple statement that Binance LLC and all its subsidiaries will cooperate with any investigation would send BNB flying higher.

Meanwhile, BNB is being punished by traders and has drifted a leg lower this Thursday. Expect to see pressure build at $300 due to its psychological nature, the 200-day Simple Moving Average (SMA) and the low of May all falling in line near that level. Once broken, expect a nosedive move of around 10% that would have BNB trading at $283 – a pivotal level from back in March.

BNB/USD 4H-chart

That $300 level could hold as mentioned in the above paragraph since plenty of support elements are present for a turnaround. Do not expect a big jump higher but a gradual recovery toward $320. That means that the red descending trendline near $306 gets taken out and sees a jump higher to the 55-day SMA.

Ethereum price takes a turn for the worse, flirts with 10% correction

https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-takes-a-turn-for-the-worse-flirts-with-10-correction-202305241505

Ethereum price fails to hit bull target and heads substantially lower.
ETH could risk dropping below $1,700 if support at $1,815 snaps.
Expect a nosedive to move below $1,700 once thin support gives way.

Ethereum (ETH) price is shedding some value this Wednesday as cryptocurrencies dive lower in synchrony. Risk assets are not in the sweet spot with both equities and cryptocurrencies printing red numbers as a safe haven flow unfolds in the markets. The stalemate in the US debt ceiling negotiations, the Fed Minutes later on Wednesday and a 50% of yet another US rate hike in July are just a few elements that are making Ethereum price likely to drop below $1,800.

Ethereum price under pressure from global woes in the markets

Ethereum price was already crashing together with European stocks on Wednesday rather dramatically after comments emerged that the US debt ceiling debate is not going as smoothly as presumed. Add to that increasing inflation worries that might force the Fed to hike again, and US equities are on their back foot as well. Cryptocurrencies did not have many rebuttals against that framing and went along for the ride lower.

ETH already lost 2% intraday and is currently testing support at the green ascending trendline. Once the level at $1,815 snaps, expect to see a quick nosedive move that could easily sink below $1,800. The best guess is that $1,740 would be able to halt the decline, while $1,690 would make more sense as a historically important level. That event would print a new low for April and May in the process.

ETH/USD 4H-chart

A simple bounce off the ascending trendline would see Ethereum price adding value again. A quick return to $1,875 would have bulls mulling whether to try and break above the 55-day Simple Moving Average. If bulls can pull it off and head above $1,882, expect to see follow-through to $1,930 next week.

Render price to take a 15% step back, while the uptrend for RNDR is still in good shape

https://www.fxstreet.com/cryptocurrencies/news/render-price-to-take-a-15-step-back-while-the-uptrend-for-rndr-is-still-in-good-shape-202305241136

Render price drops lower in the ASIA PAC and European sessions on Wednesday.
RNDR grows overheated after a firm rally since early April.
With some profit-taking underway, price action could drop as much as 15% before meeting substantial support.

Render (RNDR) price has sold off over 7% for the day as both the ASIA PAC and European sessions have given up on the altcoin’s upside thesis. The sell-off comes after RNDR has been on a staggering and relentless rally since early April and desperately needs a cooldown. Keeping the uptrend intact, RNDR could still tank as much as 15% before finding support.

Render price needs a small step back before advancing again

Render price has been on a staggering rally since early April that has amounted to a whopping 186% price increase. It is not abnormal then that the Relative Strength Index (RSI) has spent more time in the overbought than in the oversold area during that period. After hitting a curb at $2.80, it appears to be time once again for a cold shower in this rally.

RNDR could find initial support in that cooldown moment near $2.45 with a very slim ascending trendline (orange). It is quite fragile though as it has been broken on previous occasions. Instead, look for $2.19 as a very firm entry-level as it has been acting as a pivotal price during the rally. This means that a roughly 15% fade could get underway.

RNDR/USD 4H-chart

The RSI has already nudged lower on the back of the sell-off on Wednesday morning and could be enough to bring the RSI back to neutral near 50. That would fall in line with a simple bounce off that nearby ascending trendline at $2.45. The topside target is at $2.95 with the monthly R1 as a cap.

SingularityNET price gears up for clash between bears and bulls with price to drop 10%

https://www.fxstreet.com/cryptocurrencies/news/singularitynet-price-gears-up-for-clash-between-bears-and-bulls-with-price-to-drop-10-202305241245

SingularityNET price’s recent 20% decline could turn into a 30% correction.
AGIX is coming to meet vital support at $0.24.
Expect to see another leg lower with a trifecta of support levels building a strong price floor for AGIX.

SingularityNET (AGIX) price is feeling the heat as relentless selling pressure pushes price action further to the downside on Wednesday. After a smooth run for bears, a battle is set to unfold as they are nearing a fortified area where bulls await them. Expect to see some medieval scenes with bears and bulls battling each other near $0.24. Bulls will likely prevail in the end but not before price action has dropped another 10% to $0.23.

SingularityNET price eyes support trifecta between $0.23 and $0.25

SingularityNET price is still under pressure from bears who have trapped the price action in a solid downtrend since mid-May. Bears though will soon run into some support as a trifecta of support elements will soon be available. First, the 200-day Simple Moving Average (SMA) needs to break near $0.25.

Once that is done, bears wil head for $0.24 with a longer-term ascending trendline and the monthly S2 support coming in. By then, the Relative Strength Index (RSI) will be at or in oversold territory. Once bears reach $0.23, they will get trapped.

AGIX/USD 4H-chart

Bulls will watch an easy breakout of the red descending trendline. Should the 200-day SMA already provide ample support and push price action back up, a break through that trendline would see many bulls flocking into the trade. AGIX would be primed to head higher toward $0.32 and book a 25% gain.

Uniswap price recovery hits wall as bears smash rally into the ground

https://www.fxstreet.com/cryptocurrencies/news/uniswap-price-recovery-hits-wall-as-bears-smash-rally-into-the-ground-202305231253

Uniswap price rally fails to reach even nearby resistance at $5.22.
UNI sees bullish breakout pared back instantly as bears refuse to blink.
Expect to see a slide back below $5 as bears remain in control of Uniswap price action.

Uniswap (UNI) price was on good terms to stage a bullish breakout as a knee-jerk reaction got underway on Tuesday. That price action attempted to stop bears in their tracks by pushing the price action above $5.22. Unfortunately, the attempt failed as the bears saw the coup coming and already pared back the gains a few hours later. Expect to see a possible further continuation as Uniswap’s price looks unfit to head higher and instead could drop below $4.95.

Uniswap price to drop 5% on feeble bullish attempt

Uniswap price is set to hit the tarmac and break below $5 after bulls staged a weak and meek attempt to break above $5.22 to the upside. As such, it does not even count as a rejection at that level, because bears already cut short the attempt beforehand and pared back the green 4-hour candle nearly in full. This points to a dismal performance from bulls who started taking profit quite quickly, which took the wind out of this rally’s sails.

UNI should head lower now as the only real nearby support will be found at $4.95. The attempted reaction from the bulls is now turning against them, and they could see bears performing a bull squeeze. This might even see pressure building on $4.95 and heading toward $4.90, possibly testing ground for a new low in 2023.

UNI/USD 4H-chart

The fact that the full gain of the green candle is not materializing points to bulls pushing back against the small fade. Should price action be able to swing back up to $5.22, expect to see a breakout with a quick sprint to $5.41.? Bulls would enter the uptrend again as they enter the area above the ascending trend line again with more gains for the medium term.

Arbitrum price action has traders preparing for 5% to 10% gains in a firm bullish breakout

https://www.fxstreet.com/cryptocurrencies/news/arbitrum-price-action-has-traders-preparing-for-5-to-10-gains-in-a-firm-bullish-breakout-202305231120

Arbitrum price jumps higher in the ASIA PAC session and is already up 3.5% this week.
ARB jumps back above key level at $1.50.
Bulls could push Arbitrum substantially higher and reclaim ground above $1.30.

Arbitrum (ARB) price has seen bulls piercing through bearish defences in the ASIA PAC trading session on Tuesday. With bears running for the hills, expect to see some unwinding of their short positions, which should trigger a second round effect and another buy wave to come. If bulls play this right, they can pick up a 5% gain along the way while heading to 10% at $1.30.

Arbitrum bulls hit bears where it hurts

Arbitrum price exploded in the ASIA PAC trading session on Tuesday with its valuation growing substantially. In just four hours ARB price ripped over 3% higher and printed a weekly profit while taking out quite a few substantial bearish elements. With bears waking up now and seeing their positions at a loss, expect to see a second-round effect of buying coming in as bears will want to unwind their losing short positions.

ARB wil head toward $1.22 on the back of that second round of expected buying volume. Plenty of bears who have sold on the break below the green ascending trendline are looking at losses of over 5% and more. Should bulls be able to get a daily or a weekly close above $1.22, a rally higher could see $1.30 coming into play with a 10% gain to be booked.

ARB/USD 4H-chart

The last push where bulls tried to reach that $1.22 level failed on the chart as the candle nearly closed unchanged. This could point to either bulls being too quick in taking profits, or it was just a small “pump-and-dump” trade for scalpers. Should price action for ARB start to slide back below the red and green trendlines, expect to see a paring back of the gains for May with ARB at $1.05.

Aptos price goes awry as technical analysis points to 15% implosion

https://www.fxstreet.com/cryptocurrencies/news/aptos-price-goes-awry-as-technical-analysis-points-to-15-implosion-202305221116

Aptos price is set to decline sharply as selling pressure continues.
APT nears a crucial level, which could make this week quite ugly for performance.
If $8.06 breaks, expect to see a very quick move lower that bears a 15% loss.

Aptos (APT) price is trading in a very mathematical way as both descending and ascending trendlines cross one another at $8.06. At that same price tag, a pivotal horizontal level can be detected, and it could mean big trouble ahead once broken. With bulls having defended both levels, a breakdown would leave them all exposed and result in a decline big enough that APT will start trading sub-$7.

Aptos price at a crucial inflection point

Aptos price is set to enter an ugly phase on the chart as selling pressure is not easing at the moment. Bulls are at risk of becoming exposed, should bears push price action below $8.06. A brutal leg lower could amount to another 15% loss. Although the Relative Strength Index (RSI) points to a small rebound, it could well be just a drop on a hot plate.

APT saw bulls defending and buying heavily alongside the green ascending trendline and that pivotal line at $8.06. With both almost falling in line with one another, bears could easily squeeze bulls out of their positions by simply testing $8 to the downside. Bulls will start to panic, shooting themselves in the foot by offloading their position and triggering a meltdown that could head to $6.90 before encountering some support.

APT/USD 4H-chart

Upside movement would come only when some follow-through is noticed on the charts. That would mean that the RSI continues to head higher and away from the oversold barrier. The red descending trendline would break to the upside, trigger a massive buying wave and head toward $9 in an initial reaction.

PEPE price action is underpinned, but the upside breakout still looks thin

https://www.fxstreet.com/cryptocurrencies/news/pepe-price-action-is-underpinned-but-the-upside-breakout-still-looks-thin-202305221245

PEPE price should trade sideways for now as price action points to consensus.
On Sunday, the new altcoin on the block posted a 12% jump.
The bullish undertone from its first few trading days looks to be fading in search of support.

PEPE price is heading sideways to lower as the newcomer among the altcoin family has enjoyed its first minutes of fame and is now fading into the background. In its first few days, it even surpassed BNB’s 24-hour trading volume and surged 12% in one move on Sunday. With that move nearly fully unwound on Monday, it appears that the newcomer is losing its glow little by little.

PEPE price at risk as the honeymoon is coming to an end

PEPE price action is taking a step back on Monday after surging on Sunday and being the talk of the town in Cryptoland. As quickly as its star rose, it began falling this Monday as those gains from Sunday are all but erased.

PEPE needs to hold that line in the sand at $0.0014700, which has acted as a significant technical level that was pivotal on May 13 and has been supportive already on two occasions since then. With the red descending trendline nearing, expect to see some pressure mounting on that level with a break lower heading to $0.0012000.

PEPE/USD 4H-chart

With the Relative Strength Index (RSI) heading higher toward a middle ground, it appears that some buying is still ongoing, however, and a switch in power could still be at hand. That means that bulls are starting to take control and might head for a break of the red descending trendline. That would mean that $0.0018000 is up for grabs with $0.0020000 as the next price target ahead.

Dogecoin price sees gains melting away as turmoil builds

https://www.fxstreet.com/cryptocurrencies/news/dogecoin-price-sees-gains-melting-away-as-turmoil-builds-202305181245

Dogecoin price is tying up with slim gains for the week.
DOGE is not seeing any real bullish signs as global markets are on edge.
Expect to see more downside pressure as this week’s profit could collapse.

Dogecoin (DOGE) price is for the moment showing some small signs of recovery, while the overall performance is still a big letdown for many investors. DOGE though is in dire need of some fresh inflow and investor funds, while that group will wait to put its money to work until it finally sees some upside potential. As long as the Death Cross is still present, DOGE will remain hanging on the ropes as it is on Thursday.

Dogecoin price still bears a 20% negative risk

Dogecoin price is carrying a slew of bearish elements within its trading setup. Not only is the current price acting below both the 55-day and the 200-day Simple Moving Average (SMA), but it is the 55-day below the 200-day SMA that gives us the Death Cross. All technical elements confirm a more negative outlook as the Relative Strength Index (RSI) still has ample room to head lower.

DOGE does have a line in the sand at the moment near $0.068. That level falls in line with the low of last week and is just inches away from the monthly S1 support level. Once that breaks, it will be a clear path downwards to $0.057, which is both a pivotal floor level and the monthly S2 for May, carrying a 20% devaluation with it.

DOGE/USD weekly chart

The one element that could attract more investors and make DOGE a more attractive place for putting away some money would be if DOGE can break the high of last week. A break above $0.077 would be seen as a bullish breakout that would certainly attract more traders. A reentry above the 55-day and the 200-day SMA would be next with ultimately a return to $0.100.

Cosmos price sees bulls playing a dangerous game as failed bear trap could turn into a nasty sell-off

https://www.fxstreet.com/cryptocurrencies/news/cosmos-price-sees-bulls-playing-a-dangerous-game-as-failed-bear-trap-could-turn-into-a-nasty-sell-off-202305181417

Cosmos price sees bulls abandoning control of the price action.
ATOM is trading further away from the important moving average on the topside.
Although it looks like bulls want to try and make a bear trap, the plan could blow up in their face.

Cosmos (ATOM) price is heading further away from the important 55-day Simple Moving Average (SMA), which has acted as quite a good guideline in the past few weeks and months. As that happens, price action is as well trading outside the pennant that has been going on since 2022. Although this looks like a bear trap, bulls could end up being the ones that get pushed out of their position with ATOM dropping 20%.

Cosmos price sees bulls playing with fire

Cosmos price has been stuck in a pennant formation for the most part of 2022 and 2023, and that same pennant is showing cracks. Already during these past few weeks there were brief breakouts with pullbacks back in the pennant’s barriers. This time could be different as bulls could go for a bear trap here.

ATOM though could be playing a whole other ball game this time as the 55-day SMA is starting to steepen to the downside, and the 200-day SMA is starting to show signs of a Death Cross formation. This means that price action could drop back to $10.21 and breach it this time. The end result will be a falling knife to $8.43 that brings a 20% loss with it.

ATOM/USD weekly chart

Bulls could still be victorious and pull the price action back into the pennant however. Should they be able to break back above both the 55-day and the 200-day SMA, the road would be open to cross to the topside and head toward $14 with a nice 30% price adjustment.

Chainlink price carries small gains for this week, while a recovery is out of the question

https://www.fxstreet.com/cryptocurrencies/news/chainlink-price-carries-small-gains-for-this-week-while-a-recovery-is-out-of-the-question-202305181116

Chainlink price holds very marginal gains and is actually rather unchanged for the week thus far.
LINK could see downside energy come as several indicators point to more selling pressure.
Expect to see a possible break to the downside should the green ascending trendline break lower and head to $5.25.

Chainlink (LINK) price has a few tailwinds to enjoy at the moment as several elements and indicators are pointing to heavy selling getting underway. The 55-day Simple Moving Average (SMA) is heading to the downside, while the Relative Strength Index (RSI) is trading sub 50. The red descending trend line also remains unchallenged for now.

Chainlink price to drop 20% if this line in the sand gets scrambled

Chainlink price thus sees plenty of forces starting to close in on its price action. To make matters worse, bears were able to push the price action below the 200-day SMA last week and keep it there. Without a strong bullish breakout signal, LINK is bound to head much lower.

LINK will see pressure start to build around $6.50 at the green ascending trendline, which has been tested twice already in recent weeks. The third time’s the charm, and I could snap that line with a quick slide lower to $5.25. That was the low of 2022, and LINK could make a new multi-year low.

LINK/USD weekly chart

To the upside, that line in the sand comes in the form of the red descending trendline, which is quite steep. Often steep trendlines tend to snap more easily, and in this case that would open the door for a quick jump up to $7. Once that is cleared and reclaimed by bulls, expect to see a jump higher to $7.50 that slowly but steadily heads to $9.50 in the long run.

Polkadot Price is stuck in pennant formation with a breakout coming

https://www.fxstreet.com/cryptocurrencies/news/polkadot-price-is-stuck-in-pennant-formation-with-a-breakout-coming-202305171253

Polkadot price pares back some incurred losses since Monday.
DOT is stuck in pennant formation, which may soon lead to a downside breakout.
Expect to see another break lower toward $4.80, which prints another 10% loss for May.

Polkadot (DOT) price action showcases some easing in its evolution on the charts after the firm rejection it received in early May against the 200-day Simple Moving Average (SMA). Since then, it appeared there was nearly no end to the sell-off that brought DOT from nearly breaking above $6 to instead nearly breaking below $5. As DOT trades a bit sideways, bears and bulls are being pushed toward one another in a pennant formation that could end in a much more significant sell-off with Polkadot saying goodbye to $5.

Polkadot price in dire need of a hot summer

Polkadot price is not enjoying the month of May as such with at the moment a near 10% loss that could double in the coming days. Polkadot and other known altcoins show a similar pattern where more losses will kick in. The pennant formation will act as a perfect condition to complete that second part of the sell-off.

DOT sees bears and bulls being pushed toward each other with the middle point near $5.30. Considering global market turmoil with the US debt ceiling debate and the US banking crisis keeping traders on high alert, expect to see more downside due to the break out of the pennant formation. Once $5.10 is met, May’s current low will have been broken. Bears will say goodbye to $5 with $4.80 as the next handle looked to for support.

DOT/USD 4H-chart

The pennant breakout could still go the other way and fall in favor of the Bulls. It does not come as a surprise that the Relative Strength Index (RSI) is near 50, which means that bulls have been buying in the past few sessions. In that case, to the upside, $5.74 is the level to watch which bears 10% of upside potential for bulls that stay in their trade.

AVAX price should tank further as Avalanche price action heads toward $13

https://www.fxstreet.com/cryptocurrencies/news/avax-price-should-tank-further-as-avalanche-price-action-heads-toward-13-202305171448

Avalanche price is heading lower again as the US trading session gets underway on Wednesday.
AVAX has bears building pressure on $14.56 in a bearish triangle setup.
Another 10% drop is at hand once bears advance beyond the current triangle’s base.

Avalanche (AVAX) price is continuing its decline at a slow grind as a bearish triangle has been formed on the charts – a recognizable pattern. Pressure is building again with investors on edge as plenty of tail risks exist. Expect to see a sharp leg lower once the floor in the triangle breaks at $14.56, and we could see AVAX trading near $13 very quickly.

AVAX price to undergo more pain with no turnaround nearby

Avalanche price is gearing up for another landslide victory for the bears as there is no end in sight just yet in this painful trade. Another bearish element is perceived from the charts as a bearish triangle is at hand. Another 10% drop should materialize on the back of this bearish triangle that is slowly but surely nearing its end game of a break lower.

AVAX traders will watch $14.56, which acts as the base for the bearish triangle in this process. Once that gives way, after firm support last Friday, a quick nosedive move will be next. Expect a sudden drop to $13 with the monthly S2 support nearby for support.

AVAX/USD 4H-chart

However, support could still hold, and a break above the red descending trend line would be a massive bullish signal to investors and traders. In that case, expect bulls to rally higher here in a quick knee-jerk correction. Although quite far off, $16 will be in the cards with the 200-day SMA as a first big cap on the topside to test.

Shiba Inu price cracks under pressure, while 10% loss would bring new low for 2023

https://www.fxstreet.com/cryptocurrencies/news/shiba-inu-price-cracks-under-pressure-while-10-loss-would-bring-new-low-for-2023-202305171216

(SHIB) price is still very much caught in a downward trend channel, and a swift recovery or breakout is nowhere to be seen. Bulls are finally able to

Litecoin price is on its way to booking a 25% profit this week as bears retreat

https://www.fxstreet.com/cryptocurrencies/news/litecoin-price-is-on-its-way-to-booking-a-25-profit-this-week-as-bears-retreat-202305161308

Litecoin price already gained 8% this week.
LTC has bulls set to tear down the $90 psychological level.
Once bulls can see their way through $92, a pop above $100 is in the cards.

Litecoin (LTC) price is set to make a stellar move this week as bulls have been jumping into the price action since Monday. With heavy buying underway, bulls have already reached the first significant cap at $90 with the big psychological figure and the 55-day Simple Moving Average (SMA) at hand. When bulls can make their way through here, not much is in the way for it to extend all the way up to $104.

Litecoin price is about to hit a home run this week

Litecoin Price is seeing an enjoyable ball game unfold between bears and bulls, and the bulls are winning every inning so far. Several home runs were seen on Monday with LTC quickly reaching $90 and bound to break higher despite an overbought Relative Strength Index (RSI). Once that level is breached and the 55-day SMA turns into bullish support, more upside is in the cards for this week.

LTC has some minor elements to keep an eye on, however, with $94.43 and $97.18 as small pivot levels. The only high resistance level to be aware of is the monthly R1, just below $100. Look for the R1 being breached as confirmation. LTC price action should then head back to find support at that same R1 level and next head higher with the top level at $104. This trade would return a 25% profit for investors.

LTC/USD 4H-chart

Looking a little back backward on the chart, traders will have spotted that at the beginning of May the 55-day SMA was nearly impossible to close above. It made sense since the RSI was overbought as well, limiting any upside potential. Price action could start to fade and head back to $82 in a cooldown move with the RSI swing toward being oversold before heading higher again.

Lido DAO price is about to explode 60% and break above $3

https://www.fxstreet.com/cryptocurrencies/news/lido-dao-price-is-about-to-explode-60-and-break-above-3-202305161116

Lido DAO price received a rejection on Monday as bulls came back in full force.
LDO tried to break an important resistance area but failed.
With strong bullish signals again this Tuesday, expect a rally that could extend all the way up to $3.37.

Lido DAO (LDO) price has set the performance bar rather high for itself this summer. With bulls chasing price action higher on Monday, a rejection occurred as bulls ventured to attack $2.20, where both a pivotal level and the 55-day Simple Moving Average (SMA) are being used by bears as defensive structures. Once that area is reclaimed by bulls this week, expect to see a rally that could go well into the summer and hit $3.37 with a 60% profit in the books.

Lido DAO price to be the trade of the season out of the bunch

Lido DAO price is already heading for a very solid performance with a 10% gain already on record for this week. From the looks of it, bulls are back with a vengeance and have already erased all incurred losses for May. If bulls play this right, this could be the best recovery trade of the year, and LDO is set to outperform some peers in the process.

LDO first needs to pare the selling pressure from bears at $2.20, where they have built a fortress around that historically pivotal level and the 55-day SMA that resides nearby. With the bullish performance setting the tone for this week, expect to see that level being torn down later on Tuesday and bulls heading for $2.60. The rally should continue into July with a few catalysts along the way that could lift LDO higher and head toward $3.37.

LDO/USD 4H-chart

A threat to the downside could come with another rejection at $2.20 and one of the tail risks in the US inflating again, such as the on-again-off-again banking turmoil or the debt ceiling negotiations. Expect then to see a leg lower with $2 doubtful to hold. Rather look for $1.85 and the 200-day SMA in between $2 and $1.85 as a circuit breaker to slow down any violent drops depending on the severity of the tail risk or catalyst.

Cardano price on trajectory to break above $0.39 as bulls stick to recovery plan this week

https://www.fxstreet.com/cryptocurrencies/news/cardano-price-on-trajectory-to-break-above-039-as-bulls-stick-to-recovery-plan-this-week-202305151405

Cardano price sees bulls shaking off last week’s performance quite quickly.
ADA price made a nice recovery over the weekend and seeks to continue it this week.
A bullish triangle formation is the playbook for now with a breakout above $0.39.

Cardano (ADA) price is seeing bulls quickly pick up their feet after a downbeat moment the week before. ADA quickly recovered over the weekend with some substantial losses being pared back. Expect to see a continuation this week as a bullish triangle is in play that will push ADA above $0.39 for a 10% gain.

Cardano price hands bulls playbook for this week

Cardano price suffered quite some losses last week and at one point was even flirting with a break below the always-important 200-day Simple Moving Average (SMA). Things could not have looked any grimmer than on Friday at the US closing bell. Markets showed how relentless and how quick a turnaround can be staged as bulls were quite quickly back on their feet, retaking ground on Saturday and Sunday.

ADA from here is trading nicely along the green ascending trendline, which although it has been broken still holds its support as a guideline for a bullish triangle. The base for that triangle is near $0.39 and would see bulls paring back the losses from last week. Specific attention is required for that 55-day SMA just above $0.39, because that could mean bulls are heading toward $0.42 in the long run.

ADA/USD 4H-chart

Should the supportive trendline snap, expect to see a quick leg lower as the bulls would vacate the premises quite quickly. An unwind of the positions would quickly see ADA back at $0.35, flirting with a break below the 20-day SMA. Once bears advance, expect a quick leg lower to $0.34 that tests the low of late March.

Apecoin price to continue early Monday recovery as $4 is back on the radar

https://www.fxstreet.com/cryptocurrencies/news/apecoin-price-to-continue-early-monday-recovery-as-4-is-back-on-the-radar-202305151244

Apecoin price is showing signs of clawing back ground this week.
APE needs to watch two big levels before it can head back to $4.
A solid 20% gain is on the table for bulls who play this right.

Apecoin (APE) price shows good signs of a recovery trade being underway after a firm sell-off throughout May. As a small rebound is being noticed on the charts, more upside potential is present as the overall outlook for this week falls in favor of the bulls. With a very light economic calendar and markets being a bit less on edge over diminishing tail risks, more upside potential is in the cards with at best a 20% profit.

Apecoin price primed for a 20% recovery to $4

Apecoin price had to say goodbye to $4 ever since May began. With the market phrase “sell in May and walk away” on every trader’s mind, the proverb fits the picture painted on the price action chart. A turnaround looks to be a possibility from here on as the key level at $3.40 is under pressure. A break to the upside now looks likely.

APE has some tailwinds coming in from a light economic calendar and a few tail risks deflating, creating some room for bulls to head higher. Once $3.40 is broken to the upside, expect to see a quick pop to the monthly S1 near $3.52 and $3.60. The last challenge lies at $3.80, which holds the key to unlocking that $4 level. Here the bulls will test the 55-day Simple Moving Average (SMA) for a possible break or rejection at first.

APE/USD 4H-chart

As mentioned above, the first high level is $3.40, where initial resistance can be found. In case bulls are unable to pare that resistance and break above it, expect to see a snap lower and head back to $3.20. In case selling pressure continues, a new low could be printed with APE testing $3.06.

Uniswap price action tells traders it is time to say goodbye to $5 handle as more downside pressure underway

https://www.fxstreet.com/cryptocurrencies/news/uniswap-price-action-tells-traders-it-is-time-to-say-goodbye-to-5-handle-as-more-downside-pressure-underway-202305121231

Uniswap price makes a steep recovery before falling back to the ground on Friday.
UNI flirts again with a break below $5.
Expect another 10% devaluation as big brother Bitcoin also cracks under pressure.

Uniswap (UNI) price is the sum of everything that is going on in altcoins and cryptocurrencies. First and foremost, the element that Bitcoin is slipping further and has no outlook of getting back above $30,000 anytime soon is weighing on the overall performance of most common cryptocurrencies and altcoins. Add to that the almighty US Dollar that is roaring back after a long absence in 2023, and Uniswap is a sitting duck for bears to attack.

Uniswap price sees other elements in its price action overshadowed by BTC, US Dollar

Uniswap price was on its way to breaking above $5.20 in the ASIA PAC trading session, but the recovery was very short-lived. Bears came back in hard and squandered the opportunity for the Bulls to pare back some losses. The doom and gloom come from Bitcoin, which is sinking toward a two-month low.

UNI traders might detach themselves from Bitcoin’s performance, though unfortunately as a standalone altcoin Uniswap is facing another difficulty. The strong greenback is gaining strength with the Dollar Index back above 102 and the US Dollar advancing against several major G7 currencies. This makes UNI unable to make a fist against these overpowering bearish elements. This market rather values it at $4.60, which is another 10% lower on this Friday.

UNI/USD 4H-chart

One very small element here could still salvage the situation, and that is from a purely technical angle. The fact that the past three dips were each time higher could point to massive buying from investors that saves it from a breakdown. Look for $5.20 to be broken as confirmation, and from there UNI will rally quickly toward $5.67.

Litecoin price has a weak spot that could implode with LTC diving 15%

https://www.fxstreet.com/cryptocurrencies/news/litecoin-price-has-a-weak-spot-that-could-implode-with-ltc-diving-15-202305121342

Litecoin price is trying to recover from its declining price action this week.
LTC bulls squeeze to the upside.
With a slim trendline exposed on the downside, a break would mean a big blow for bulls.

Litecoin (LTC) price sees bulls trying to get back above the level they defaulted on last Monday and have been unable to reclaim all week. Often no means no, but in this case bulls have not yet understood the message and are still trying to break back above the 200-day Simple Moving Average after bears pierced through it. With lower highs, a squeeze is ongoing. Once broken, however, the road is open for bears to head 15% lower.

Litecoin price sees bulls losing control of $70 in order to get back above $80

Litecoin price sees bulls creating a bullish grind higher, resulting in a squeeze to the upside against the 200-day SMA. Throughout the week, bulls have tried to reclaim it but failed each time. Meanwhile, a small ascending trendline is forming with higher lows, which exposes bulls in a large way.

LTC could see bears going in for the kill by triggering all the stops from bulls that are being placed just below this ascending trendline. This will trigger, in its turn, a wave of sell orders and could see LTC quickly spiral toward $73.50. Once that monthly S2 support level is broken, expect to see another leg lower toward $65 that prints a new low for 2023.

LTC/USD 4H-chart

The squeeze could work though and push LTC above the 200-day SMA near $82. Once that has happened, a range trade is the next setup with the 55-day SMA at $90 looking very attractive. Wait for firm confirmation before getting involved with a clear break above and a test for support at that 200-day SMA before enjoying a 10% rally.

Cosmos price at risk of reentering crypto winter as both short and near-term projections bear an ugly picture

https://www.fxstreet.com/cryptocurrencies/news/cosmos-price-at-risk-of-reentering-crypto-winter-as-both-short-and-near-term-projections-bear-an-ugly-picture-202305111246

Cosmos price pops higher and gets barred on topside by a bearish triangle.
ATOM to see more selling pressure as important moving average breaks below its longer-term counterpart.
The worst-case scenario indicates a 30% price devaluation for ATOM if bears gain full control.

Cosmos (ATOM) price is at a point where bulls will need to start facing the music. With a third topside rejection, lower than the day before, a bearish triangle is being drawn on the charts. Bulls will start to vacate the premises as bears start to build up in volume and size and will soon take over control of the price action. Both the short term and medium term point to more selling pressure and even put forward a small crypto winter scenario for Cosmos that could have it drop below $8.

Cosmos price to face winter during summertime

Cosmos price is bound to produce a substantial leg lower in both the short term and the near term. For this week, the bearish triangle on the chart points to a break at the monthly S1 support as bears flirt with taking price action below $10. That alone would mean a 10% loss for this week.

In the longer term, ATOM has the 55-day Simple Moving Average (SMA) breaking firmly below the 200-day SMA. Once that 200-day SMA starts to move lower as well, a Death Cross is being formed again. That pattern foreshadows another rough patch that would partially replicate the crypto winter from 2022. In terms of valuation, this would devalue Cosmos by 30% and push price action near $8.

ATOM/USD 4H-chart

The bearish triangle could be a boobytrap though that tricks bears into falling into a bear trap. A brief break below $10 would see massive buying with the buy orders exploding. ATOM would see its price action ramp up quite quickly and head toward $11.50 to either break or halt near the monthly pivot – a packed area where both the 55-day and 200-day SMA reside.

Dogecoin price on 15% downward trajectory as more bulls ready to unwind their positions

https://www.fxstreet.com/cryptocurrencies/news/dogecoin-price-on-15-downward-trajectory-as-more-bulls-ready-to-unwind-their-positions-202305111108

Dogecoin price has said goodbye to a bag full of key supportive elements.
DOGE points to more downside with only one supportive element between now and $0.06.
Expect another 15% drop once a new low is printed for May.

Dogecoin (DOGE) price is under pressure from the financial markets’ wisdom to “sell in May and walk away”. That narrative is perfectly aligned with the ongoing situation this Thursday in Dogecoin price action. With another slide lower, the end is not yet in sight as bears are projecting to see this sell-off through toward $0.06.

Dogecoin price undergoing rule of thumb in financial markets

Dogecoin price has already shredded 10% of its value since May 1, which could even double if bears get their way. DOGE has already breached the bullish elements from both the 55-day and the 200-day Simple Moving Averages (SMAs), which were vital to keeping the bull run alive. With those elements in the bin, breaking the green ascending trendline means that price action will head toward the point of origination.

DOGE is thus caught in a purely technical trade that follows two creeds: one is, as already mentioned, the selling pressure in May. The second element is that once an ascending trendline breaks to the downside, often a full unwind of that same rally occurs. In this sense DOGE is set to tank another 15% toward $0.06 where that trendline originated from. The only caveat is the monthly S1 support near $0.068, where bulls could try and limit that loss. Once broken, however, it would confirm the upcoming 15% loss.

DOGE/USD 4H-chart

A turnaround would come when some nervousness is taken out of the markets. The number of tail risks, such as the US debt ceiling and the Russia-Ukraine war, could get resolved or at least head in that direction. That would be a big support for risk assets with crypto at the forefront. A major change in sentiment could ahve DOGE pop back above $0.085 and pare back incurred losses for the month thus far.

Shiba Inu price in penalty box with descending trend channel chasing bulls away

https://www.fxstreet.com/cryptocurrencies/news/shiba-inu-price-in-penalty-box-with-descending-trend-channel-chasing-bulls-away-202305101116

Shiba Inu price sees chances for a return to $0.00001000 diminish by the minute.
SHIB is stuck in descending trend channel with bears comfortably in the driver’s seat.
Do not expect bulls to return anytime soon as long as the descending trend channel remains in play.

Shiba Inu (SHIB) price has been handed over to the law of physics as the chart is starting to show proof of gravity even in altcoins. SHIB bulls are nowhere to be seen as only a handful venture to build a stake in Shiba Inu at the present. With the descending trend channel firmly aligned and acting as a scarecrow in the face of any would-be bulls, a return to $0.00001000 is almost impossible, while the downside points to $0.0000750 or another 15% lower.

Shiba Inu sees bears plucking bulls as price action only goes lower

Shiba Inu price is suddenly in a rough spot with no support nearby to make a quick recovery back up to $0.00001000. That level represented a line in the sand until last week and its defaulting under bearish pressure was completely unforeseen. A week later, changes look very slim for a quick return back up there, and traders will start to prepare for levels rather south of $0.00000850 than north.

SHIB is expected to drop another leg lower later this Wednesday and into this week as support on the bottom side already got broken at the monthly S2 at $0.00000850. Bearish pressure will keep price action in Shiba Inu subdued and hold it near the lower end of the trend channel until it runs into support. That support is likely at $0.00000750 and bears another 15% loss from where SHIB is trading on Wednesday in the European session.

SHIB/USD 4H-chart

A quick turnaround could come with a bounce off the lower trendline and heading to the upper one. As mentioned already, $0.00001000 is out of reach, though $0.00000966 could still be in its grasp. That would mean a 10% profitable pop in a down-trending altcoin.

Ethereum price to slide lower as Binance congestion gridlock trips up top 3 coins

https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-to-slide-lower-as-binance-congestion-gridlock-trips-up-top-3-coins-202305091116

Ethereum price attempts recovery from whipsaw price action on Monday.
ETH sees its recovery stall as a key support level turns into resistance and limits further upside.
Expect another 10% drop for ETH when short-term support proves too feeble to withstand selling pressure.

Ethereum (ETH) price had a rough session on Monday as Binance reported issues liftingf its ban on Bitcoin withdrawals that had to be reinstated only hours after it got lifted. With massive congestion as a result, major cryptocurrencies slid lower intraday and only saw some losses being pared back in the last US session on Monday. Ethereum price sees its bulls unable to break above the key 55-day Simple Moving Average (SMA) as the price undergoes a firm rejection and is bound to head substantially lower.

Ethereum price action witnesses handover from bulls to bears

Ethereum price had a very nervous session as its price action fell into the crosshairs from the fallout of Binance, which lifted its ban on Bitcoin withdrawals. The process did not go as smoothly as hoped for with at one point Binance even reinstating the ban as a massive gridlock occurred due to congestion on the network. This then tripped Bitcoin and other major cryptocurrencies with Ethereum’s price down over 5% at one point.

ETH saw some paring back of losses, while bulls are unfit and unable to push price action back above the important 55-day SMA, which has been acting as support for the most part of April and May. What follows now is a firm rejection on the topside with bears entering and taking control of Ethereum’s price action. Look out for $1,825, which is near the green ascending trendline and might hold briefly. Once that gives way, expect a nosedive move to $1,688 with a 10% loss in the offing.

ETH/USD 4H-chart

A turnaround is still possible should a bigger risk on tailwind emerge and lift the support for cryptocurrencies as an asset class. Expect to see a nice grind higher with a break above $1,875 that erases bearish pressure from both the 55-day SMA and that red descending trendline. A stretch to $1,928 could be possible, although do not expect that to come quickly as it will be a level closely watched by bears wishing to strike again.

Litecoin price out of time as 20% implosion is a clear and present danger for LTC

https://www.fxstreet.com/cryptocurrencies/news/litecoin-price-out-of-time-as-20-implosion-is-a-clear-and-present-danger-for-ltc-202305081115

Litecoin price sank 10% over the weekend in a brutal sell-off.
LTC breaks lower in the European session and is on its way to a brutal sell-off.
Expect to see a steep decline that bears a 20% loss.

Litecoin (LTC) price is still hungover from a brutal weekend where bulls dropped the ball on pushing price action above the important 55-day Simple Moving Average (SMA). With several important cryptocurrencies dropping on Monday, Litecoin price is being dragged another leg lower by market sentiment and is at a crucial level during the European trading session. Only the 200-day SMA is standing between bulls and the brink of implosion that would see LTC trading near $65, which is 20% lower.

Litecoin price sees bulls’ suffering not over yet

Litecoin price has plunged over the weekend as bulls tried relentlessly to push price action above the 55-day SMA. As they failed, each rejection was a window of opportunity for bears to enter and start overpowering bulls in the fragile equilibrium of demand and supply. Following a 10% drop over the weekend, LTC is finding some support near $81 at the monthly S1 support and the 200-day SMA as selling pressure is still ongoing.

Looking forward for LTC in light of the current sell-off in Bitcoin and other major pairs points to a further decline as support will soon snap. That would mean a very quick nosedive move with first the monthly S2 near $73 as an intermediary pause. Bears will instead want to go for $65, the low of December 2022, and erasing all incurred gains for 2023.

LTC/USD 4H-chart

A bounce from the trifecta of support could hold as the Relative Strength Index (RSI) is already trading in oversold territory. This pattern often then sees a slowdown in any further sell-off continuation. Expect a slight recovery, with LTC bulls clawing back to $86. A full return to $90 will take a few more trading days as trust has been bruised, and bulls need to lick their wounds first before going back in with large price-pushing purchases of Litecoin.