Litecoin, FTX Token, Algorand Price Analysis: 07 February

Litecoin’s price recovered after a minor correction but a break above $158 was doubtful as trading volumes were on the lower side. FTT moved southbound from its all-time high but flashed bullish signals that could see the price rise to record levels once again. ALGO moved above $0.84 resistance but some additional bullish impetus would be needed for a rise towards the $1 level.

Litecoin [LTC]

Litecoin’s price picked up from the $150 support after a correction saw gains shrink by over 6% from its local high of $163. The selling pressure was evident on the On Balance Volume, which consistently formed lower lows on the charts. However, an uptick was registered in the last session of trade.

The Awesome Oscillator noted some bullish movement as the bars switched to green. Despite the short term bullish prediction, a rise above the $158 level was an unlikely scenario unless the trading volumes rose sharply over the next 24 hours.

FTX Token [FTT]

FTX Token snapped yet another all-time high on the charts as the price moved north of $15. A minor pullback saw FTT shed nearly 3% in the past 24 hours but this was expected to be a temporary move considering its uptrend over the past 30 days.

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