Litecoin (LTC) and Polkadot (DOT) at Key Support – Counter-Trend Underway, But When Will It Start?

Litecoin and Polkadot are positioned at critical levels. Both cryptocurrencies are hinting at a potential counter-trend. The big question is, when will this upward movement commence? This article delves into the current market dynamics and evaluates if these digital assets are primed for a rally. Discover which coins are gearing up for growth and what it means for the market.

Litecoin Market Snapshot: Past Trends and Key Price Levels

Coin experienced a slight pullback in the last month with a change of -0.98%, while showing a strong upward trend of 63.82% over the past six months. The movement suggests a period of consolidation followed by significant growth, indicating potential for renewed momentum. Historical performance reflects a mix of stabilization and gradual buildup for a bullish phase.

Current prices lie between $92.68 and $151.78, with key levels defined by support at $57.33 and nearest resistance at $175.54, followed by a second resistance at $234.65. Bears dominate short-term signals, indicated by negative momentum and oscillator readings, while a breakout above resistance could trigger renewed buying interest. Traders might consider positions based on a bounce off support or a confirmed move past resistance.

Polkadot's Market Journey: Trends and Key Levels

Polkadot showed a cautious slide over the past month with prices falling around 5%. The half-year trend remained nearly flat with a minor drop of 0.47%. Price action ranged between about $3.52 and $6.21, reflecting downward pressure at times while recovery attempts were quickly tempered. This modest decline hints at a market struggling with persistent bearish sentiment despite periodic rallies.

Current prices lie between $3.52 and $6.21 with immediate resistance at $7.69 and firm support at $2.31. Indicators lean negative, favoring bears, though no clear trend has emerged yet. Trading within these ranges may involve watching for a breakout above $7.69 or a bounce from near $2.31, offering potential entry points based on price action.

Conclusion

Litecoin (LTC) and Polkadot (DOT) currently sit at key support levels. A counter-trend movement is anticipated. However, the exact timing remains uncertain. Both assets need to show stronger momentum to confirm any upward trend. Investors should watch these supports closely for any signs of a breakout.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.