The crucial day has arrived for investors. Today’s inflation data could increase market volatility. Inflation, which has been declining for a long time, is now preparing to take a break according to estimates. The market seems to have priced this in, but a surprise in the announced data could lead to significant price fluctuations. So, if there is an increase in volatility, how much will LTC, SOL, and MATIC Coin be worth?
Bulls successfully defended the support at $22.30. This indicates strong demand from buyers. The price sent an important reversal signal by crossing the 20-day EMA at $23.71 on August 8. The flat 20-day EMA and the RSI in the positive zone indicate a slight advantage for bulls. The SOL/USDT pair could rebound to $25.68 and then $27.12, strong resistance levels.
If the resistance zone is not surpassed, we may see some more price fluctuations between $27.12 and $22.30. The critical level is the $22.30 support when the market turns negative. If this zone is lost, sellers can steer the price down to the $18-16 range.
MATIC Coin price bounced back from strong support at $0.64 and reached the moving averages, where bears were expected to put up a strong defense. If the price turns down from the moving averages, the MATIC/USDT pair could once again drop to $0.64. On the contrary, if bulls push the price above the moving averages, the resistance levels at $0.74 and $0.80 could be visited in the coming hours.
The halving followed by the decline in BTC was not good for LTC investors. Bears tried to pull Litecoin below the $81.36 support on August 7. We mentioned that this level could be tested on the day of the halving. The expected event happened with the news, and sellers temporarily took control.
The long tail on the candlestick shows that demand for LTC is still alive at lower levels. Bulls are trying to initiate a recovery with strong buying near the 20-day EMA ($87). If the price turns down from this level, we will see that buyers have not missed the selling opportunities and that the price has returned to a downward trend. Bears could find strength again to break the $81.36 support.
If bulls want to succeed, they need to push the price above the 20-day EMA and then target the $92 to $96.46 peaks.