Altcoins LTC, CRV, and ONDO recover after retesting key support levels
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Litecoin (LTC), Curve DAO (CRV), and Ondo (ONDO) prices rebounded on Tuesday after retesting critical support levels during Monday's double-digit correction. The technical indicators, particularly the Moving Average Convergence Divergence (MACD), suggest a bullish outlook for all three altcoins, signaling the potential for continued price recovery.
Litecoin (LTC)
Support and Recovery
Price Action Litecoin experienced an 18% decline on Monday, revisiting its key support level at $98.67, near the weekly support of $96.30. It has since recovered slightly to trade around $111.87. Upside Potential If the $98.67 level holds, LTC could rally to retest the December 5 high of $147.54. A close above this level could trigger an additional rally toward the psychological $200 mark.
Technical Indicators
MACD A bullish crossover from October 14 remains intact, with rising green histogram bars above the zero line, reinforcing upward momentum.
Curve DAO (CRV)
Support and Recovery
Price Action CRV retraced over 15% from Saturday to Monday, testing and bouncing off its key support level at $0.88. It has since recovered to trade around $1.11. Upside Potential Further recovery could see CRV retest its July 2022 high of $1.588.
Technical Indicators
MACD The bullish crossover persists, with rising green histogram bars above the neutral line, supporting the continuation of the upward trend.
Ondo (ONDO)
Support and Recovery
Price Action After reaching a new all-time high (ATH) of $1.95 on December 4, ONDO declined 12% to retest its weekly support at $1.37. It rebounded sharply on Tuesday, trading around $1.64. Upside Potential If the $1.37 level holds, ONDO could retest its ATH of $1.95. A close above this level could push prices toward the 141.40% Fibonacci extension level at $2.51.
Technical Indicators
MACD A strong bullish crossover with rising green histogram bars above zero indicates ONDO's potential for further recovery.
Investor Outlook
Litecoin (LTC) A solid support zone at $98.67 could provide accumulation opportunities, with potential gains toward $200. Curve DAO (CRV) Support at $0.88 positions CRV for a rally toward $1.588 and beyond, making it an attractive option for buyers. Ondo (ONDO) Key support at $1.37 offers a favorable risk-reward setup, with an upside target at $2.51 if momentum continues.
Investors looking to accumulate these altcoins might consider entering positions near their support levels, leveraging the bullish momentum suggested by technical indicators.
Litecoin (LTC)
Support and Recovery
Price Action Litecoin experienced an 18% decline on Monday, revisiting its key support level at $98.67, near the weekly support of $96.30. It has since recovered slightly to trade around $111.87. Upside Potential If the $98.67 level holds, LTC could rally to retest the December 5 high of $147.54. A close above this level could trigger an additional rally toward the psychological $200 mark.
Technical Indicators
MACD A bullish crossover from October 14 remains intact, with rising green histogram bars above the zero line, reinforcing upward momentum.
Curve DAO (CRV)
Support and Recovery
Price Action CRV retraced over 15% from Saturday to Monday, testing and bouncing off its key support level at $0.88. It has since recovered to trade around $1.11. Upside Potential Further recovery could see CRV retest its July 2022 high of $1.588.
Technical Indicators
MACD The bullish crossover persists, with rising green histogram bars above the neutral line, supporting the continuation of the upward trend.
Ondo (ONDO)
Support and Recovery
Price Action After reaching a new all-time high (ATH) of $1.95 on December 4, ONDO declined 12% to retest its weekly support at $1.37. It rebounded sharply on Tuesday, trading around $1.64. Upside Potential If the $1.37 level holds, ONDO could retest its ATH of $1.95. A close above this level could push prices toward the 141.40% Fibonacci extension level at $2.51.
Technical Indicators
MACD A strong bullish crossover with rising green histogram bars above zero indicates ONDO's potential for further recovery.
Investor Outlook
Litecoin (LTC) A solid support zone at $98.67 could provide accumulation opportunities, with potential gains toward $200. Curve DAO (CRV) Support at $0.88 positions CRV for a rally toward $1.588 and beyond, making it an attractive option for buyers. Ondo (ONDO) Key support at $1.37 offers a favorable risk-reward setup, with an upside target at $2.51 if momentum continues.
Investors looking to accumulate these altcoins might consider entering positions near their support levels, leveraging the bullish momentum suggested by technical indicators.