The cryptocurrency market has recently turned bearish, causing concern among investors. Traders are pondering the effects on the top digital assets, Litecoin (LTC) and Polkadot (DOT). Meanwhile, Algotech (ALGT) presale is sparking interest in the evolution of crypto trading and investment.
Litecoin (LTC) Shows Bullish Divergence: End of Downtrend?
Litecoin (LTC) shows a bullish divergence that might signal the potential end of the current downtrend. This divergence happens when the cryptocurrency’s price drops, the oscillator decreases, yet network activity grows, hinting at a shift in sentiment.
Santiment’s data regarding Litecoin (LTC) indicates a remarkable uptick in unique addresses interacting with LTC, soaring to 704,000 within the past week. This surge contrasts sharply with the 345,000 active addresses logged in May. The heightened Litecoin (LTC) network activity suggests a dynamic involvement by market participants with the cryptocurrency, hinting at a potential shift in momentum.
The Relative Strength Index (RSI) for Litecoin (LTC) 4-hour chart is edging closer to oversold territory, hinting at a potential oversold phase for the coin. Historically, when the Litecoin (LTC) reaches oversold levels, it often triggers a rebound in prices, with exhausted sellers making way for renewed buyer interest.
Polkadot (DOT) In Descending Wedge Pattern: Possible Uptrend Ahead
Despite its best efforts, Polkadot (DOT) has felt the impact of the recent downturn in the overall market. Current data as of June 14 reveals Polkadot (DOT) price at $6.37, showcasing a notable 10% decrease within the last week and a significant 88.2% plunge from its peak in November 2021.
Despite this, crypto analysts see a glimmer of hope through the technical analysis of Polkadot (DOT). They’ve spotted a descending wedge pattern on DOT’s 12-hour chart, hinting at a possible uptrend. This specific pattern, known for its converging downward trend lines, indicates a potential weakening of the bearish momentum, potentially triggering a bullish breakout. If Polkadot (DOT) manages to break free from this trend, experts suggest that its value might spike to around $11-12 soon. Moreover, another analyst has highlighted a potential 43.61% upward shift, aiming for the 0.618 Fibonacci retracement level near $9.50, dependent on Polkadot (DOT) escape from its current trading range.
BitMart to List Algotech (ALGT): Boosting Visibility
Algotech (ALGT), a decentralized algorithmic crypto trading platform, seeks to transform the landscape of trading and investment through cutting-edge technologies and automation. Having amassed a staggering $7.2 million in its presale, with its token priced at $0.08.
Algotech (ALGT) recently made a strategic investment of $1.2 million in H100 GPUs to boost the speed, accuracy, and capabilities of its AI engine, showcasing a firm dedication to cutting-edge technology. Additionally, BitMart crypto exchange has revealed its plans to soon list the Algotech (ALGT) token, potentially increasing the project’s visibility and liquidity.
The platform aims to empower traders through cutting-edge algorithms, robust technical infrastructure, and advanced risk management strategies. Algotech (ALGT) strives to provide a diverse array of algorithmic trading options, including momentum trading, mean reversion, breakout trading, and arbitrage opportunities, tailoring to a wide range of trading preferences.
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