Solana, Litecoin, Cosmos price analysis: November 7th

At the time of going to press, most alts were trading in green in the last 24 hours. Altcoins like Solana, Litecoin and Cosmos saw daily gains while their short-term technical indicators showed mixed signals. After a month-long bullish move, Solana hit its ATH and showed signs of declining upside momentum.

While alts like Litecoin and Cosmos showed signs of a revival as their specs pointed to weakening bearish momentum.

Solana (SOL)

TradingView, SOL / USD

Since October 6th, SOL price action has been moving north after taking a bullish trajectory and fluctuating between the parallel lines. The “Smart Contract Platform” recorded an impressive ROI of 64.4% and 31.2% monthly and weekly.

As a result, the price made higher highs and broke the upper trendline to hit its ATH at USD 255.9950. There was then a slight pullback as short-term signs pointed to a weakening of the bullish influence. If the bears can show sustained pressure, the price can see a correction by falling back into trend. At press time, SOL was trading at $ 251.12.

the RSI dropped from the overbought area to the 62 mark. In particular, this slump showed a weakening upward momentum. Additionally, MACD and the TO Histograms showed red signals and confirmed the declining purchasing power. Aside from that, DMI Lines continued to favor buyers, but their directional tendencies confirmed declining bullish strength.

Litecoin (LTC)

TradingView, LTC / USDT

The LTC bulls have shown their strength since early October, when the price rose nearly 29% to hit its five-week high on October 21st. Thereafter, price action spiked as it hit its two-week low of $ 171.1. Since then, the bulls have been keen to keep the pressure going as the price rose 8.31% over the past ten days. LTC bears, on the other hand, have shown resistance at the $ 203 mark.

The short-term technical indicators confirmed the above observations by flashing a preference for increased purchasing power. At press time, the altcoin was trading at $ 198.5.

the RSI has seen an increase in the past 24 hours, suggesting increasing purchasing power. Besides, the TO and MACD Readings confirmed the previous analysis. However, it is ADX was at the 10 mark, indicating a deeply weak directional trend.

Cosmos (ATOM)

TradingView, ATOM / USDT

After ATOM hit its one-month high on October 27th, ATOM experienced a pullback and posted a 2.7% loss on the weekly charts. The bears gained momentum as did the 4-hour 20-50. confirmed UPPER LEVEL. As a result, the price hit its two-week low at $ 34 on November 6th. Since then, ATOM bulls have shown signs of recovery as short-term values ​​point to declining selling strength.

The altcoin traded at $ 36.00 after rising 1.52% in the past 24 hours.

the RSI rose 10 points towards the center line on the last day. Besides, the TO green signals blinked as it neared the zero line. However, it is DMI Lines showed a persistent preference for the sellers with clearly weak directional trends.

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