The crypto market is active again. Litecoin faces price pressure while Mantra shows strength, and BlockDAG outlines its ambitious plans.
Litecoin Faces Key Support Drop
Litecoin's price has dropped to $65 amidst a broader market decline, nearing the lower edge of its long-term ascending channel. This support level is a crucial monitoring point for traders. Historically, Litecoin has struggled near the 200-week exponential moving average, experiencing significant reactions in November 2018 and March 2020. Currently, LTC is sitting inside a bullish wedge pattern, which often signals a potential reversal. The weekly Relative Strength Index (RSI) is also near 30, indicating oversold conditions. If the wedge support breaks, LTC could slide toward $28. However, if it holds, there’s a chance of a bounce back up to $95.
Mantra Shows Strong Growth
Mantra (OM) has stood out against market pullbacks, posting a 10.21% gain after briefly touching a 24-hour low of $5.71. The price is now pushing toward the resistance level at $7.11 within a developing triangle formation. The 50-day EMA is acting as resistance, while the 200-day EMA provides solid support, both indicating sustained buying pressure. Additionally, the RSI recently rebounded from an oversold position, adding to the bullish argument.
BlockDAG's Ambitious Future Plans
In its recent presentation at Keynote 3, BlockDAG's CTO Jeremy Harkness laid out a bold target: to power over 1,000 decentralized applications by 2026. This effort spans real-world sectors like finance, gaming, and healthcare. The network currently boasts over 170,000 unique holders. Its architecture, powered by a hybrid consensus model, enables speeds of up to 15,000 transactions per second, addressing key issues of scalability and speed in the blockchain space. Future plans also include account abstraction, identity management, and AI integration.
Litecoin may be under pressure but retains a firm market position. The technical analysis of Mantra points to a bullish outlook, backed by strong price actions and indicators. However, BlockDAG currently leads discussions as a top-performing crypto asset with a solid roadmap and real-world adoption in sight.
