Litecoin, Curve DAO, and Ondo prices rebounded on Tuesday after a double-digit correction the previous day. The MACD indicator suggests that the outlook for the three altcoins remains bullish, suggesting a potential price recovery. Sideline investors who want to accumulate these three altcoins can do so at major support levels.
Litecoin (LTC), Curve DAO (CRV), and Ondo (ONDO) prices recovered on Tuesday after a retest and rebound from key support levels following Monday's double-digit correction. On the technical outlook, the Moving Average Convergence Divergence (MACD) momentum indicator supports a rebound, suggesting further recovery ahead.
Litecoin price revisits key support level
Litecoin price has risen more than 100% since early November and fell 18% on Monday, re-approaching the key support level near $98.67. This level is roughly in line with the weekly support level at $96.30 and the downtrend line drawn between the weekly high since the end of March 2022, making it a key reversal zone. As of Monday, it had recovered slightly and was trading around $111.87.
If the $98.67 level holds support, LTC could extend the recovery and retest the December 5 high of $147.54. If we can close above this level, the additional upside could extend by 35% to retest the psychological importance of $200.
The Moving Average Convergence Divergence (MACD) indicator supports Litecoin’s recovery as the bullish crossover posted on the October 14th weekly chart still holds. Additionally, the green histogram bar has risen above the neutral zero, suggesting continued upward momentum.
LTC/USDT weekly chart
Curve DAO price rebounds from $0.88 support level
Curve DAO prices have soared more than fourfold since early November, reaching levels not seen since April 2023. It fell more than 15% from Saturday to Monday before retesting and bouncing off the key support level at $0.88. As of writing on Tuesday, it has recovered to around $1.11.
If CRV continues its recovery, it could retest the July 2022 high of $1.588.
Similar to LTC, the CRV MACD indicator on the weekly chart is also holding a bullish crossover. The green histogram bar is rising above the neutral zero line, indicating continued upward momentum.
CRV/USDT weekly chart
Ondo price sharp rebound
Ondo price reached a new high (ATH) of $1.95 on December 4th and fell 12% by Monday, retesting and bouncing off weekly support at $1.37. The weekly support of $1.37 is roughly in line with the 50% price retracement level of $1.26 from the October low of $0.588 to the December ATH of $1.95, making it a key reversal zone. It rebounded sharply on Tuesday, trading around $1.64.
If the weekly level of $1.37 continues to hold, ONDO price could extend its rally to retest the ATH of $1.95. If we are successful in exiting above this level, further upside could follow to test the 141.40% Fibonacci extension level at $2.51.
Similar to LTC and CRV, ONDO's MACD indicator on the weekly chart also maintains a bullish crossover, suggesting a recovery rally is ahead for ONDO.
ONDO/USDT weekly chart
