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The sideways movement of the cryptocurrency market, which has been persistent for some time, was shipwrecked yesterday, October 29, after the bear seized prices on the ground. Cryptocurrencies Major like Bitcoin [BTC], XRP and Litecoin [LTC] all tied up under the weight of the bear, resulting in disruption of the price support of many coins.
1 hour:
The Litecoin of an hour [LTC] the chart clearly shows the fall of the coin from $ 51.37 to $ 48.15. LTC support was discontinued at $ 48.11, while resistance was maintained at $ 53.91.
The Awesome Oscillator indicates an enormous change in the market moment, with the fall of the cryptocurrency that led to the creation of a downward momentum. The noticeable change in the period of time is the polar difference in momentum, passing from a mole to a mountain.
The Chaikin cash flow the indicator indicates that Litecoin slows down the edges to the bullish realm after crashing the bottom of the bear area. The chart is a sign that money is entering the market and can be attributed to the change in investor sentiment.
1 day:
Litecoin's one-day chart indicates support for $ 48.54, with the cryptocurrency flowing on a downtrend. The trend line shows cryptocurrency falling from $ 55.84 to $ 48.84.
The Parabolic SAR it is predominantly bearish, with most of the markers currently hovering above the price candles.
The Relative strength index [RSI] the LTC chart has slowly come back from the spasms of the oversold zone, a sign of the selling pressure that is much larger than the buying pressure.
The MACD the graph moves in the same tangent after having suffered multiple crossovers. The lines are almost moving in a parallel line which is indicative of a lateral movement of prices for the time being.
Conclusion
The absolute destruction of price support is a clear sign of the hold of the bear. Most of the indicators mentioned above indicate a continuous bearish race interspersed with sporadic bullish runs.
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