Shiba Inu, Litecoin, Loopring Price Analysis: November 20th | MCU Times

Shiba Inu, Litecoin, Loopring Price Analysis: November 20th

The market entered a dynamic zone where the bulls tried to counteract the extended correction phase. Altcoins like Shiba Inu and Litecoin have thus seen green candlesticks over the last 24 hours. The outlook remained bearish, while short-term technical indicators pointed to its declining impact.

On the flip side, the Loopring flashed with bullish indications, but fell into a downturn after hitting its ATH on 10 November.

Shiba Inu (SHIB)

TradingView, SHIB / USD

The meme coin was in constant withdrawal after it struck its ATH. Since the end of October, the price has reversed in a declining triangle during the correction phase. As a result, SHIB lost over half of its value over the next 19 days, reaching its lowest level in three weeks on 16 November.

Over the last two days, the SHIB army led the recovery in the crypto market as everything saw a jump of almost 13.76% in 24 hours. Furthermore, the bulls secured immediate support at the $ 0.0000445 mark.

At the time of press release, SHIB was trading at $ 0.00004889 after flashing mixed trades. The price traded below its 4-hour 20-SMA (white) and 50-SMA (red), indicating the existence of bearish influence. Also it RSI saw a dive from the 60 mark towards the half line.

In addition, one bearish divergence along the RSI and price action hinted at their likely resurgence. However DMI chose the bulls while TO pointed to rising bullish momentum.

Litecoin (LTC)

TradingView, LTC / USDT

From September 29, the LTC rose by over 70% until November 9. As a result, the price action broke the northern channel to reach its 25-week high on 10 November.

Since then, the price action withdrew by noting a 32.4% nine-day blip. However, the coin joined the revival wagon by registering a 7.7% increase in 24 hours. With this revival, the price action also obliged the down channel (yellow) by stepping back into it.

At the time of going to press, LTC was trading at $ 224.2. The technical indicators favored the sellers a bit while hinting at their declining strength. That RSI increased by 23 points from the oversold territory towards the half line. While DMI chose the bears, TO pointed to rising bullish momentum. However, the bulls could not support the revival with high trading volumes, signaling a weak move on their part.

Loop ring (LRC)

TradingView, LRC / USDT

The LRC experienced soaring gains of over 800% from October 28 to November 10. After a bull-pennant outburst on November 7, the LRC went into price discovery and hit its ATH at $ 3.85 on November 10.

Since then, the price has fallen steadily by swinging between the down channel (yellow). As a result, the token lost over a third of its value in the last ten days. Despite a 12.7% increase on November 19, the price action forced the trend as it stepped back into it.

At the time of going to press, LRC was trading at $ 2.6149. That RSI observed a small dive but remained above the half-line, indicating a bullish propensity. More DMI confirmed this tendency. However TO visibly confirmed the small decline in bullish impact.

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