Crypto Price Analysis June 20: GMT, 1INCH, AAVE, APE, LTC

Key Insights:

• Ethereum is barely holding on to $1k as support, with the alt trading at $1,096.
• Stephen and 1Inch were some of the leading cryptocurrencies in the last 24 hours.
• Litecoin, along with a few other alts, led the downfall.

The broader crypto market gained $62 billion yesterday, but the same does not compensate enough for the losses witnessed throughout June.

As the month comes to an end, the crypto market is yet to recover and rise back above the $1 trillion mark in the next nine days.

STEPN (GMT)

The altcoin, with a market cap of $456 million, was one of the highlights of the last 24 hours when GMT registered an almost 30% rally. Trading at $0.7569, this rise brought the coin closer to reclaiming the $1 mark and flipping it into support.

The MACD has always been supportive of a price rise as not once in the last 1 month has there been a bearish crossover in the case of GMT. With more green bars appearing, the price rise might continue.

1Inch (1INCH)

The native token of the Decentralized Exchange, 1INCH, was leading the cryptocurrencies on the charts as the altcoin achieved a rally of 20.15% rally in 24 hours. Lingering at $0.6636, 1INCH is showing promise of sustained growth with the recent green candles. 

According to the Parabolic SAR’s white dots, the proximity of the asset to the indicator is a sign that a trend reversal in inbound could place the aforementioned white dots beneath the candlesticks.

AAVE (AAVE)

Next up on the list of the best performing cryptocurrencies of the day is AAVE which managed to register a 20.51% rally right after the altcoin lost almost 58% owing to the recent market crash. The coin is attempting to close above $60 at the time of writing.

This would bring AAVE closer to its 50-day Simple Moving Average (SMA), which is a critical support level. Reclaiming this would also push AAVE above the $100 mark.

ApeCoin (APE)

The Bored Ape Yacht Club’s native token ApeCoin has managed to mark a substantial rise of 30.26% for itself, moving up from the lows it hit after the 53.32% crash it witnessed this June.

Trading at $4.4 at the time of writing, the altcoin, although it is nowhere close to its highs, the broader market’s support might push it to that level.

Plus, the rally also placed the Relative Strenght Index (RSI) closer towards the neutral line and might eventually pull it out and place the indicator back into the bullish zone after more than 45 days.

Litecoin (LTC)

While the rest of the altcoins continued their rally for more than two days, LTC cut the rise short and noted a 4% decline over the last 24 hours. This is despite the fact that just a day before that, LTC managed to spike up by almost 15%.

Now, as the silver to Bitcoin’s gold trades at $52, it is also noting the gradual disappearance of the bearishness from the market.

The receding green bars here on the Awesome Oscillator aren’t signs of receding bullishness, but actually, bearishness as these bars will flip the trend once they rise above the neutral mark.