Filecoin, EOS and Litecoin Price Analysis: 08 December

By victoria
Published December 8, 2021 Updated December 8, 2021
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Filecoin, EOS and Litecoin Price Analysis: 08 December

By victoria
Published December 8, 2021 Updated December 8, 2021

The crypto market displayed negative price action majorly, among the altcoins that have gained over the last 24 hours Filecoin was one of them. At press time the coin was trading for $41.22, although the price of the coin marked a monthly low, the technicals had shown some signs of recovery over the past day.

FIL/USD Chart In The 4-hour Time Frame

Filecoin’s price action has mostly been mundane ever since the market crashed on December 4, the altcoin made slow progress. The immediate resistance for the coin stood at $48.80, the four-hour chart gave off mixed trading signals.

MACD underwent a bullish crossover and displayed that FIL’s price action was positive owing to a slight reversal of losses that occurred 24 hours ago.

The buying was on an upward direction post-Decemeber 6 as seen on the Relative Strength Index, however, at press time, there was a downtick indicating that buying pressure fizzled out. In accordance with the same, capital inflows were also taking a dip post FIL witnessing a brief recovery as seen on the Chaikin Money Flow.

In case prices move downwards, the local support for Filecoin rested at $36.52, which would mark a multi-month low for the token.

EOS/USD Chart In The 4-hour Time Frame

EOS was priced at $3.67, it surged a 12.7% in the last 24 hours and was among the top gainers in the market. The altcoin displayed substantial recovery and additionally registered an increase in buying pressure over the last 24 hours. Trading volume also shot up by 57.77% over the last day.

From the technicals, its evident that the coin’s price momentum was in favour of the buyers. On the four hour chart, the price of EOS was seen above the half-line above on the Relative Strength Index, indicating that buyers exceeded sellers in the market. Bollinger Bands expanded slightly which meant an increase in price volatility.

MACD underwent a bullish crossover highlighting positive price action.

Key resistance levels for EOS stood at $4.30, $4.86 and $5.33. In case of a price reversal, EOS could find support at $3.66, $3.28 and $2.93.

LTC/USD Chart In The 4-hour Time Frame

Litecoin’s prices recorded signs of recuperation ever since December 6. Over the last few trading sessions the coin, however mostly moved sideways. At press time, the coin was priced at $164. According to the four-hour chart, the price of the token was seen above the 20-SMA, a reading that meant price momentum was in favour of the buyers.

With upward movement, LTC could encounter resistance at $180.47 and then at $208.30, moving past those price levels Litecoin would revisit its multi-week high of $227.11.

The Relative Strength Index also climbed upwards, but remained below the half-line. MACD displayed a bullish crossover in accordance with a price reversal over the last 48 hours.

On the flip side, if buying pressure dips again, support lines for Litecoin awaited at $163.17 and then at $147.38.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
victoria
64 Articles
Victoria is a Nigerian journalist and entrepreneur with a background in Communications. She's interested in writing about Cryptocurrency, Blockchain and Humans. She owns a tad bit of BTC and ETH and her favorite thing to do is sit by the ocean listening to Beyoncé.

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