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- The market is back in red as if it were this to which it belongs.
- Litecoin withdraws below $ 30.00; Trendline support is strong enough to sustain in the short term.
The volatility in the cryptocurrency market is currently keeping everyone in the limelight. There was optimism in the market yesterday as the market capitalization was adjusted to close at $ 112 billion. The same currencies recorded significant gains over the day; one day I defined the encrypted happy Monday. However, the bulls must have frightened the sleeping bears who have returned to vengeance.
The market is back in red and the asset set-up gains. Dash (DASH) is reducing daily declines down by 3.34%. Bitcoin Gold (BTG) is closely followed. Litecoin (LTC); Tuesday's strongest daily gain is not spared by bad bears. LTC / USD is down 2.62%, although it still maintains a position above the support of the trend line.
Litecoin zoomed above its annual lows and broke the 61.8% Fib retracement resistance with the last upward swing at $ 30.42 and a minimum swing of $ 22.54. In addition, the bulls push for gains above yesterday's resistance to $ 29.00, leaving the place for gains above $ 30.00. However, the bears seem to be back and they intend to have Litecoin close to the current lows. LTC / USD corrected below $ 30.00 and trades $ 28.50 while using uptrend support from the trendline.
The price is both the 50 SMA per hour and the 100 SMA which show that the purchase activity has yet to slow down despite the RSI withdrawing from oversold levels above 70 while the MAC could cross the negative region in the short term term. The RSI currently stands at 50% and is likely to resume the uptrend following an upward movement in progress over the support of the trend line.
Read more:
1. Litecoin price analysis: Litecoin leads the crypt happy Monday
2. Update of the cryptocurrency market: Bitcoin flows below $ 3,500 while EOS zooms over the Stellar (XLM) in 4th position
Chart at 1 LTC / USD
Get the 5 most predictable currency pairs
