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The bullish wave that the cryptocurrency market was sailing seems to have come to an end with almost all the cryptocurrencies in the chart that have seen downward trends. Main coins like Bitcoin [BTC], Ethereum [ETH]and Litecoin [LTC] they have all been forced to curb the bullish acceleration with the media threatened in the process.
1 hour
The graph of an hour for Litecoin again sees a gradual decline in prices after a period of constant price expectations. Support for cryptocurrency reached $ 27.3 while resistance was $ 35.37. The initial upward trend that Litecoin has enjoyed has raised its price from $ 30.25 to $ 35.04. The following price drop resulted in a price drop from $ 33.91 to $ 31.50.
The Relative strength index for Litecoin has just rebounded from the oversold region to keep in the middle of the RSI chart. This is a sign of the balance between buying pressure and selling pressure.
The Chaikin cash flow the indicator kept right on the zero line. This shows that the money flowing in the market and the money coming out of the market is almost the same.
1 day
One day's Litecoin chart paints a bleak picture of cryptocurrency, with an acute downward trend that becomes evident. The slide saw the fall in the LTC price from $ 83.74 to $ 33.26 while support was maintained at $ 28.51.
The Bollinger band shows the upper band and the lower band converging after a bearish break. Convergence can be linked to the stagnant price movement with an apparent change in trend.
The MACD the line and the signal line have both created a bullish crossover with the lines ending up. The MACD histogram is full of sporadic bearish and bullish signals.
Conclusion
The bear has regained power from the bull which is evident from the price drop. Most of the indicators mentioned above took the bear part with a small chance of intermittent bullish increases.
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