Bitcoin [BTC] vs. Litecoin [LTC] Price Analysis: Coins ride bull wave as bears loom

Bitcoin [BTC], the king of cryptocurrencies, maintained its value above the $8,500 mark on June 3. BTC briefly brushed the $8,800 resistance line, before tumbling to the $8,500 territory. The digital asset fell by 2.09% over the past 24 hours and was priced at $8,555.70, at press time. According to CoinMarketCap, the market cap of BTC was $151.76 billion, with $20.80 billion in 24-hour trading volume.

At press time, Litecoin [LTC] was valued at $112.96 and fell by 1.98%. At press time, the market cap of LTC was $7.01 billion, with a 24-hour trading volume of $3.88 billion.

1-Day BTC

BTC faced resistance at $8,811.96 and support at $7,218.63. The king coin recorded two major uptrends, from $4,200.15 to $8,168.54, and from $8,144.49 to $8,745.76.

Source: TradingView

Bollinger Bands showed the bands converging, indicating decreasing market volatility.

Parabolic SAR markers were below the candlesticks, signifying a bullish trend in the market.

MACD line was below the signal line, signifying a bearish market.

1-Day LTC

LTC saw three significant uptrends between $40.56 – $92.45, $91.00 – $101.81, and $103.25 – $116.95. The resistance was at $117.32 and the support was at $108.14.

Source: TradingView

Relative Strength Index placed the coin in the overbought zone.

Chaikin Money Flow showcased that capital was flowing into the market.

Awesome Oscillator pointed towards a bullish trend as the short-term momentum was greater than the long-term momentum.

Conclusion

The one-day charts for both BTC and LTC pointed towards a bullish market for the coins. However, some bearish signs were evident in BTC’s market.

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