Litecoin Breaks Transaction Records but Faces Price Challenges
The decentralized peer-to-peer network Litecoin (LTC) has recently experienced record-breaking daily transaction counts, surpassing Bitcoin’s numbers. On November 14, Litecoin recorded 1.01 million transactions, with a 46% increase in unique addresses involved in LTC transactions. However, despite the surge in activity, the coin’s price has not seen proportional growth, remaining at $70.10 and experiencing a 5% decrease in the last week. Profit-taking activities and a profitability assessment of transactions indicate selling activities have outpaced accumulation, affecting LTC’s Relative Strength Index (RSI) and Money Flow Index (MFI).
Cosmos Challenges and Opportunities in the Uptrend
The price of Cosmos (ATOM) has rebounded from the $6.00 demand zone, attempting to surpass the $10 resistance. However, the rejection candle at $10 reflects strong seller presence, with the challenge being to overcome this obstacle to progress to the $12 area. At $9.55, ATOM is faced with resistance, with a market capitalization of $3.16 billion and a bullish outlook from analysts. The coin has recorded a double minimum pattern and positive indicators in the RSI and MACD, signaling a positive trajectory.
Terra (LUNA) Price Comparison with Litecoin and Cosmos
Terra (MOON) is displaying interesting technical patterns, fluctuating between support and resistance levels. The MACD level suggests a potential change in trend direction, while an RSI at 40.046 places LUNA in a neutral position. Breaching the $0.7676 threshold could lead to targeting the second resistance level at $0.8468, indicating increasing bullish momentum. Conversely, failing to hold support at $0.6429 could lead to testing second and third support levels at $0.5974 and $0.4728, respectively. Negative MACD and RSI crossovers would indicate increasing bearish pressure, potentially confirming a downtrend.
Hot Take: Assessing the Future of Litecoin, Cosmos, and Terra
While Litecoin has experienced record-breaking transaction numbers, its price faces challenges, contrasting with Cosmos’ positive trajectory and bullish outlook. Terra’s technical analysis shows potential momentum shifts, with support and resistance levels guiding its future movements. As the crypto market continues to evolve, these assets’ performances and prices will be worth watching.
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