Crypto Price Analysis July 5: SNX, COMP, LTC, GMT, BAT

Key Insights:

• Synthetix was one of the worst performers of the day, marking an 8% decline.
• STEPN (GMT) stood on the other end of the spectrum, up by 6.48%.
• Bitcoin and Ethereum slipped to $19k and $1k once again today.

With the entire market in red, most of the altcoins kept following the broader market cues, while some other rebelled. Bitcoin and Ethereum sadly fell into the former category trading at $19k and $1k, respectively.

Synthetix (SNX)

Trading at $2.58, SNX was one of the leading altcoins today to paint red on the charts. Declining by 9.12%, the cryptocurrency wiped out half of the 27.63% rally from the previous 48 hours.

At the moment, the altcoin is somehow maintaining the bullishness it obtained from the 109% rise, saving Awesome Oscillator from falling below the neutral line.

Compound (COMP)

Following in the footsteps of Synthetix, Compound also noted a 7.89% fall in price, however, investors will not be affected too severely in the case of COMP.

This is because it is still sustaining most of the 92.22% rally from June, and in addition to that, the candlestick is keeping above the bias of the Bollinger Bands, which will help it in continuing the price rise.

Litecoin (LTC)

The silver to Bitcoin’s gold, Litecoin, adhered to the broader market trend sinking by 8.18%  in the last 24 hours. This further added to the 18% decline LTC has observed in the previous ten days.

In addition to this, the streak of inflows it had been noticing since the mid-June 35.4% rally finally came to an end 48 hours ago when Chaikin Money Flow market outflows.

STEPN (GMT)

The DeFi fitness protocol was observed treading against the active market trend and climbed by over 7% in the last 24 hours.

The 8.82% rise in 2 days only makes up for half the 18% drawdown from the previous week, but the same is still keeping the 66.5% rally from June intact.

Furthermore, with the MACD keeping away from a bearish crossover, for now, GMT might be able to continue rising towards $1.

Basic Attention Token (BAT)

BAT kept GMT company with an 8.52% rise bringing the coin to trade at $0.43. The coin recently fell by 14.46%, however, the surge that followed helped BAT recover to the price point it was at after the 52.47% rally.

The Relative Strength Index (RSI) is also keeping above the neutral line in the bullish area, exhibiting no selling pressure on the altcoin for now.