Litecoin, FTX Token, Composite Price Analysis – Oct 17

Having witnessed positive price fluctuations on the daily charts of major digital assets Bitcoin and Ethereum, the rest of the cryptocurrency market seemed headed for a bullish revival.

With some optimism on its hourly chart, it could be seen that Litecoin soon targeted its overall resistance. While the possibility of a stalled bearish drag finally seemed likely for Compound and FTX Token.

Litecoin (LTC)

Source: LTC / USD in TradingView

Litecoin is up almost one percent in the past 24 hours, bringing its price to $ 47.30 as it moved towards its immediate resistance level. This hinted at the possibility that the existing selling pressure would eventually ease.

The optimism seen in MACD validated the presence of impulse purchase. Although the MACD line was still above the signal line, a reversal could not be ruled out.

the Relative Strength Index Also, it was still below the neutral 50 line. The RSI was seen rising just above the 40 level.

If an uptrend on RSI gains traction, the LTC bulls could push the coin towards the $ 47,499 resistance level. However, if the bears take over, the altcoin could return to the $ 46.99 level.

Token FTX (FTT)

Source: FTT / USD in TradingView

Regardless of the bears trying to stop the price recovery on FTX Token over the past few days, the digital asset managed to bounce above $ 3,502 as it also witnessed a 1.2% gain from yesterday.

The green bars closing Awesome oscillator it also validated the presence of bullish momentum. However, a very strong bullish rally may not persist immediately due to the low levels of volatility seen in the ITF market.

The narrowing of Bollinger Bands ruled out the possibility of immediate broad price actions anywhere. FTT is more likely to observe a brief period of price consolidation just below the $ 3,573 resistance level.

Composite (COMP)

Source: COMP / USD in TradingView

At the time of this writing, Compound posted a market capitalization of $ 347 million and gained 1.22% in the last 24 hours.

The dotted lines of the Parabolic SAR aligned below the candles supported the coin from a retracement.

In addition to the PSAR, Aroon indicator he was also optimistic. Aroon Up (orange) was above Aroon Down (blue) which represents a sentiment of buying pressure in the COMP market.

Therefore, an upside price action could cause prices to rebound from the $ 104.29 level.

This is a machine translation of our English version.

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