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Because the bear attacked more attacks, Litecoin [LTC] immersed in an intense red in which it collapsed by 12.4%.
At the time of printing, the token was traded at a depreciated price of $ 26.2, with a market capitalization of $ 1.5 billion. The 24-hour trading volume was recorded at $ 460.1 billion.
1 hour
LTCUSD 1 hour candelabras | Source: tradingview
From the last week of November, the LTC candlesticks from an hour have seen a bad break in support in which the previous support set at $ 28 has been breached by the most immediate and strongest support pending at $ 25.
Meanwhile, the downward trend extends from $ 34 to $ 30 in this scenario, forming a descending triangle with a support line. At this point it is not possible to foresee a trend breakout, since there is no price concentration in the market.
On the Aroon indicator graph, the downward trend seems to be stronger than the uptrend. This is a clear sign that the indicator is bearish on the currency.
The Chaikin cash flow it is also bearish on Litecoin because the reading line continues to hide under the 0 line. However, this position can not be confirmed as the indicator is making efforts to go back.
The Relative vigor index made a slight bullish crossover from the signal line to show support for cryptocurrency. The RVGI is trying to follow an upward path to predict a bullish outlook.
1 day
LTCUSD 1 day candlesticks | Source: tradingview
In Litecoin one-day price candles, a strong downward trend from $ 89 up to $ 56 was observed. Since August, more media have seen the violation of subsequent ones, where the current LTC support level is set at $ 28.7, but it is not guaranteed to remain unchanged as the price is undergoing a sizable decline.
The Bollinger bands they closed slightly to represent relatively lower market volatility, as the bands continue to contract from the previous expanded model.
The RSI it is crashing badly in the oversold zone as it has just come into contact with the bottom line. The indicator is clearly bearish on the cryptocurrency.
The MACD he made a short-term bullish crossover, but now he's ready to reverse the trend as he touches the signal line for a negative crossover.
Conclusion
Most of the indicators of this technical analysis suggest a bearish future for Litecoin. There may be low volatility observed in the market as indicated by the Bollinger Bands.
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