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litecoin [LTC], the ninth largest coin on the CoinMarketCap list, has been under the bear's attack in recent weeks. With the market constantly attacked by the bear, the coins do not seem to have a safe haven.
According to CoinMarketCap, the currency was trading at $ 24.41 with a market capitalization of $ 1.45 billion. The currency recorded a 24-hour trading volume of $ 388 million, however, the currency has plummeted by 1.19% over the last seven days.
1 hour
Source: view of trading
According to the diagram of an hour, the currency has experienced a downward trend from $ 31.68 to $ 23.69. The currency also noted a slight rise from $ 23.30 to $ 25.14. There was an immediate resistance provided for $ 24.24 and support for $ 22.77, which increased by $ 22.96.
Awesome Oscillator indicates a bullish market, but with a faded momentum.
MACD the line is seen above the signal line, marking a bullish market.
Relative strength index indicates that buying and selling pressures give each other night.
1 day
Source: view of trading
The one day chart of the currency showed a downtrend from $ 82.22 to $ 55.88 which extends further to $ 33.34. However, no significant uptrend was noted. There was strong resistance at $ 55.88 and strong support was provided for $ 23.91.
Bollinger bands seem to diverge, which means that price volatility will increase. The moving average line seems to be above the candelabras, indicating a bearish market.
Parabolic SAR also, marks a bear market when the lines of the markers are above the candles.
Chaikin cash flow is in line with other indicators to indicate a downward trend.
Conclusion
According to the Bollinger Band and CMF indicators, the bear has a solid grip on the market. However, with the constant rise and fall of the market, this could change at any time.
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