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litecoin [LTC], the former world's seventh largest cryptocurrency has recently lost its place in Tether, a stablecoin. Now, Litecoin is in eighth place, with a market capitalization of $ 1.76 billion and a 24-hour trading volume of $ 426.57 million.
The 24-hour price change is positive at 3% while the seven-day longer time period shows a sharp drop of 14.20%.
1 hour
Source: CoinMarketCap
The downtrend for Litecoin extends from $ 37.29 to $ 29.69 without any uptrend in sight. Support for Litecoin at $ 27.25 was almost tested on December 6th at 05:00 UTC. The points of resistance for Litecoin can be seen at $ 29.74, $ 35.29 and $ 37.29.
The Parabolic SAR the markers are formed under the price candles and are supporting them in an uptrend.
The MACD the indicator shows a bullish crossover towards the top while the MACD lines have crossed the signal line.
The Awesome Oscillator shows a transition of the red bars to green and the green bars are running out and could be directed towards a bullish crossover.
1 day
Source: CoinMarketCap
The one-day chart seems to be falling, while the downtrend falls from $ 125 to $ 33.45. Litecoin's long-standing support is set at $ 28.60, while long-term resistance points are seen at $ 101.11 and $ 62.87.
The Bollinger bands they are undergoing a compression and prices have hit the simple moving average, indicating that prices have recovered.
The Relative strength index it is touching the 30-mark limit, which is an indication of an oversold market.
The Chaikin cash flow shows a massive outflow of money for Litecoin while the CMF has fallen far below the zero line.
Conclusion
Graphs of an hour show an uptrend for Litecoin as indicated by the SAR, AO and MACD indicators. The indicator in the one-day charts is not as bullish as in an hourly chart. CMF and RSI indicate a bearish move for Litecoin, but Bollinger Bands indicate otherwise.
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