Litecoin, Cosmos, Dogecoin Price Analysis: 23 December

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Litecoin ^[1] mounted a strong defense of the $100 level but was headed lower once more, with $108 being a level bulls would seek to defend. Cosmos ^[2] bounced feebly off the $4.8 level following a bullish divergence, but bears pushed the prices lower and could flip it to resistance and Dogecoin ^[3] retraced some of the gains it made on a recent surge.

Litecoin [LTC]

Source: LTC/USD ^[4] on TradingView

Using the Fibonacci Retracement tool for LTC’s move from a swing low of $69.94 to a swing high of $124.4, some important levels of retracement are highlighted.

In the short-term, a move with above-average volume beneath the 23.6% level at $108.5 would likely test the support at $100. The short-term momentum had swung to the bears when they forced the price to $99, but the bulls have fought back.

The OBV has registered higher lows over the past two weeks, and hence any move downward can be regarded as a pullback and not a trend reversal. Another test of the $100 level and the subsequent breakout would reveal the direction of the next move for LTC, as would a surge past the $120 mark.

Cosmos [ATOM]

Source: ATOM/USD ^[5] on TradingView

Cosmos exhibited bullish divergence between price and momentum about 12 hours prior to writing, and ATOM bounced nearly 5%. Yet the selling pressure was too strong and ATOM

Litecoin, Cosmos, Dogecoin Price Analysis: 23 December

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