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The cryptocurrency market has been roller coaster, with some coins continuing their downward rise, while some have seen bullish spikes. While Bitcoin Cash [BCH], Monero [XMR] and Tron [TRX] they were in the green, cryptocurrencies like Litecoin [LTC] they are still slipping in terms of price.
1 hour:
The LTC chart of an hour shows the gloomy image of an acute bearish decline. The downtrend has taken the price from $ 41.74 to $ 32.84. The current support for Litecoin is $ 30.79 while the resistance has been maintained at $ 42.32.
The Relative strength index shows that Litecoin tends to the oversold zone. This means that the sales pressure of the cryptocurrency is higher than the purchase pressure, an effect of the bear's attack.
The MACD the indicators show the histogram tending to the bullish side. The signal line and the MACD line have both undergone a bearish crossover indicating an imminent fall in prices.
1 day:
The one-day chart does not show a different image with the bear attack clearly visible on the charts. The fall in prices also saw support go down to $ 31.4. The downward trend lowered the price from $ 41.6 to $ 31.56.
The Bollinger band shows that the arrival of a massive bearish breakout with a Bollinger cloud is significantly larger than what has appeared in recent months. The breakout was a final product of the bearish decline.
The Awesome Oscillator indicates the momentum of the market, even if in the bearish realm. On the contrary, the absence of a strong bullish momentum has been quite evident in the last two months.
Conclusion:
The bear estate on the market has not been reduced with Litecoin as a prime example. Although there has been a gradual change with some currencies, the atmosphere is still bearish, as underlined by the indicators mentioned above.
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