Home / Coin Payment / litecoin [LTC] Technical analysis: the bears get stuck while the bulls try to re-establish control

litecoin [LTC] Technical analysis: the bears get stuck while the bulls try to re-establish control

Most cryptocurrencies are finding it difficult to recover from the unexpected fall of January 10, 2019. Litecoin [LTC] it is no different and has struggled to get away from the bear's grasp.

At the time of printing, LTC was valued at $ 31.59, with a market capitalization of $ 1.89 billion. The currency also recorded a 24-hour trading volume of $ 472 million, with most of the contribution of OKEx via the LTC / BTC trading pair with a trade volume of $ 33 million. Finally, LTC saw a negative growth rate of 0.33% over the last day.

1 hour

Source: TradingView

The graph of an hour showed a marginal uptrend from $ 31,382 to $ 31,990 while it recovered from a marginally similar downtrend that went from $ 31,820 to $ 31,220. The last resistance point at $ 32,017 was revised from the last trading round while strong support was pinpointed at $ 31,053.

The Parabolic SAR suggests an uptrend market in the immediate future as all markers appear to be aligned below the candlesticks.

The Klinger Oscillator has the reading line marginally above the signal line. This suggests a bullish trend to the market from the crossover.

The Chaikin money flow it also predicts a bullish wave since the line has moved abruptly above zero, suggesting that the money is returning to the market.

1 day

Source: TradingView

The one-day chart shows a downtrend from $ 39.329 to $ 33.588, suggesting that it is still recovering from the crash on January 10th which closed a bullish trend that extended from $ 32.329 to $ 40.079. The support point is strong at $ 30.519 while the last resistance point was at $ 40.308.

The Bollinger Bands indicates that there is unlikely to be much volatility in the market and that any price movement will be stagnant or sideways.

The RSI is showing that buying pressure and sales pressure for cryptocurrency are currently leveled on the market.

The MACD suggests that, despite the momentum of the slowdown in the downtrend, the market remains bearish, as suggested by the fact that the signal line is above the moving average line.

Conclusion

According to the indicators, a projection on the short and long-term future of the LTC market is divided. While indicators like SAR, KO and Chaikin Money Flow suggest that the market is in a short-term uptrend, other indicators such as Bollinger, RSI and MACD suggest that the long-term future of the market remains firmly in the bear's domain. .


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