Litecoin– and Polkadot–Cryptocurrencies have been pretty bearish for over a month, losing more than 50% of their value in the process. The bearish sentiment in the crypto market has dragged all but a few cryptos down, but it seems like the turmoil has come to an end. The bearish period could now be over for cryptos and 2022 could start out pretty bullish, similar to early 2021. Polkadot and Litecoin remain weak but they are showing some bullish signs so let’s see what they look like now.
Litecoin Daily Chart Analysis – LTC Trying To Reverse Support?
Litecoin suddenly turned bullish in early November, climbing to nearly $ 300 after missing out on most of the October crypto rally. But the bearish reversal in the crypto market was unfortunate for Litecoin and dragged it down. LTC / USD fell to $ 130 during the crash earlier this month, but the real support zone is around $ 140, which was held in December.
LTC / USD
Sellers have made many attempts to achieve this support, but it resisted when the crypto market consolidated after the decline and now it seems the market is trying to get bullish, with Bitcoin Challenges $ 50,000. Litecoin is one of the oldest cryptocurrencies and enjoys the reputation of a trustworthy cryptocurrency, as there have been no failures so far.
Therefore, the number of dealers who LTC-Accept payments worldwide and is the third most widely accepted cryptocurrency among merchants according to Cryptwerk. The Litecoin Visa debit card is bringing LTC further into the mainstream, with active addresses and also increasing activity. But it follows the mood of the crypto market. So if the market continues its bullish reversal, Litecoin will likely follow suit.
Polkadot Daily Chart Analysis – 5 Parachains already started
Let’s hope the 200 SMA doesn’t become a strong one resistance will
After starting the first five parachains, Polkadot took the path of the Blockchain started to become an interoperable ecosystem. The slot auctions started early last month and the first five auction winners were Acala, Moonbeam, Parallel Finance, Astar and Clover, with projects mostly focused on decentralized financing (DeFi), Cross-chain interoperability, etc.
This has increased interest in polkadot, which rose to $ 55 in early November. But, as mentioned earlier, the negative sentiment in the crypto market has had a huge impact on DOT / USD, which has fallen to $ 23. In the past two days we have seen an attempt to go bullish but it seems pretty weak and the 2o0 daily SMA (purple) offers resistance at the top so buyers must cross this moving average for the bullish trend to return is recorded again.
Source: Crypto News Deutsch