Cosmos, Link And Litecoin Mitigate Some Loss

COSMOS ANALYSIS: SEPTEMBER, 2021

Market Structure:

Cosmos is an expanding ecosystem of interoperable and sovereign blockchain applications. Here’s the market structure of Cosmos.

Cosmos is trading at $40.73. The market structure of Cosmos is extremely bullish as the coin has continued to make higher-highs and higher-lows despite the crashes. The coin made a bullish engulfing candle as it shot up by over 30% with above average volumes supporting the rally. In the process, it broke a crucial supply zone between $36.19 and $37.33. This zone will now act as a demand zone and support if the coin retests to mitigate the gain.

On the hourly chart, the coin has successfully broken out of the aforementioned demand zone. The hourly volumes during the breakout were well above average thus indicating the power of buyers. Now, the coin can either retest the demand zone with low bearish volumes and then continue its trajectory upwards or it can continue to rally to its next supply zone.

cosmos analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating extreme price strength for the coin in the short-term. The hourly RSI has crossed above the overbought region. It stands at 74.52 and has the potential to go down.

The MACD is way above the signal line, indicating that the coin is dominated by buyers.

cosmos analysis
Source: tradingview

Conclusion:

On the breakout and close above $41.10, $42.40 and $44.85 are the targets on the upside.

On the breakdown and close below $36.20, $34.71 and $33 are the targets on the downside.

LINK ANALYSIS: SEPTEMBER, 2021

Market Structure:

Link is the most widely used cryptocurrency to enable hybrid smart contracts and DeFi functions. Here’s the market structure of Link.

Link is trading at $24.20. The market structure of Link is bearish as the coin is making lower-highs and lower-lows on the daily time frame. The coin broke below an important structure point during the sell-off and has now mitigated some of the loss. This mitigation has led to the formation of a new lower-high. The coin must close above $27.50 to regain bullish momentum. Else, the coin will continue its bearish trajectory

On the hourly chart, the coin has reached its supply zone that ranges from $24.18 to $24.51. The coin can see some upside if it breaks out the aforementioned supply zone. However, the upside will be restricted due to the broader bearish trend that prevails over the coin.

cosmos analysis Link
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating price strength for the coin in the short-term. The hourly RSI is sustaining above the neutral region. It stands at 60.94 and has the potential to go up.

The MACD is way above the signal line, hinting at a possible breakout of the supply zone.

Link analysis
Source: tradingview

Conclusion:

On the breakout and close above $24.50, $25.50 and $26.32 are the targets on the upside.

On the breakdown and close below $23.83, $23.24 and $22.49 are the targets on the downside.

LITECOIN ANALYSIS: SEPTEMBER, 2021

Market Structure:

Litecoin was an early spin-off of Bitcoin, designed to be a replica of the latter. Here’s the market structure of Litecoin.

Litecoin is trading at $160. The market structure of Litecoin is bearish as the coin gave a breakdown below the neckline of the head and shoulder pattern on the daily chart. Moreover, the coin is down over 30% from its swing high in the first week of September. The coin has mitigated some of the loss yesterday by surging over 8%. However, it has to close above $167.5 in order to regain momentum. That level will also serve as an immediate resistance for the coin in the short-term.

On the hourly chart, the coin has recovered from its intraday low of $144.7 as the broader market mitigated the loss. The coin is facing rejections at a pivot point of $162.3. Thus, to take out the overhead resistance of $167.5, it must close above $162.5 decisively.

LTC analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating price strength for the coin in the short-term. The hourly RSI, although volatile, is above the neutral region. It stands at 57.34 and has the potential to go up.

The MACD is way above the signal line thus indicating price strength due to support from the moving averages.

LTC analysis
Source: tradingview

Conclusion:

On the breakout and close above $162.3, $167.5 and $175 are the targets on the upside.

On the breakdown and close below $157.1, $150 and $140 are the targets on the downside.