With the sudden bullish volatility in the market, Bitcoin has managed to surpass $ 50,000 again as the rest of the altcoin market breaks out of the bearish trap. What does the long-term future of some altcoins like IOTA, Litecoin look like? [LTC]and polkadot [DOT] look?
JOTA
Source: IOTAUSD on TradingView
The IOTA chart noted that the price of the digital asset began to rise from mid-March but began to consolidate in April. Despite the volatility observed in the remaining altcoin market, IOTA more or less withstood it and was trading at a historically high value of $ 1.90 at the time of going to press.
Meanwhile, the market appeared to be preparing for more buying pressure as the relative strength index rose from the oversold zone. This surge indicated that buying pressure has increased in the IOTA market and the digital asset may be heading for a trend reversal.
Litecoin [LTC]
Source: LTCUSD on TradingView
Litecoin price fell to the $ 201 support level, but the sudden shift in Bitcoin’s movement caused LTC to rise to $ 243 at press time. As LTC moves further, continued support from buyers could lead the asset to test the resistance at $ 260. However, given the current dynamics of buyers, it may take a while.
Bollinger bands indicated market volatility, but traders stuck to current levels. This was suggested by the relative strength index, which was currently in equilibrium. Since buying and selling pressures were the same, LTC could stay at this level for a short time.
Speckle [DOT]
Source: DOTUSD on TradingView
After tremendous growth in 2021, Polkadot [DOT] Token still held a high value. Although the market did not show a drastic change in price due to the volatility, current indicators point to a decline.
DOT was trading at $ 32.13 with the signal line and the $ 50 moving average above it. Despite the recent appreciation, DOT reversed the bear market. The Relative Strength Index indicated that the Boost was pushing DOT out of the oversold zone and that buying pressure was currently mounting. The asset may experience a trend reversal if it crosses the resistance at $ 37.
Meanwhile, Chaikin Money Flow found that the sell-off caused the money to increasingly flow out of the market. However, the current influx of buyers had a positive impact on this indicator.
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