Home / Litecoin / litecoin [LTC/USD] Technical analysis: a possible run-of-the-mill for bulls

litecoin [LTC/USD] Technical analysis: a possible run-of-the-mill for bulls

litecoin [LTC]Market capitalization fell back below the $ 2 billion market cap and is currently $ 1.91 billion, and the price is $ 32.32 according to CoinMarketCap.

Litecoin's 24-hour trading volume is $ 59.36 million and approximately 11.73% of this is provided by the DOBI exchange with the LTC / BTC pair. OKEx follows the DOBI trade and contributes to 11.47% of all trading volume with LTC / BTC and LTC / USDT trading pairs.

1 hour

Source: trading view

Litecoin's bullish trend ranges from $ 28.78 to $ 31.70, while the downtrend ranges from $ 41.62 to $ 31.94. Support at $ 27.25 is strong. Litecoin broke the resistance point at $ 31.68 and raised above, and prices are currently testing the same resistance. More resistance points can be seen at $ 35.29 and $ 37.29.

The Aroon indicator shows a downward trend gaining strength while the upward trend is struggling to gain momentum.

The Chaikin cash flow it fell below the zero line, indicating that the sellers are dominating the Litecoin market.

The Relative vigor index shows a crossover of the RVGI to the bottom which is a bearish indication.

1 day

Source: trading view

The one-day chart for Litecoin does not show signs of an uptrend, while the downward trend extends from $ 125 to $ 34.43. Support for Litecoin at $ 28.60 remained stable for more than four days, while the resistance points at $ 63.11 and $ 101.11 are both strong.

The Parabolic SAR the markers show an uptrend for Litecoin in the space of one day.

The MACD the line is going through a bullish crossover and the histogram is beginning to see some green bars materialize above the zero line.

The Stochastic indicator shows a recovery from the depths in a bullish crossover.

Conclusion

The one-day chart shows a bearish outlook as indicated by the Aroon, CMF and RVGI indicators, while the one-day chart for Litecoin shows a bullish presence as illustrated by all indicators [SAR, MACD, and Stochastic].


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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found a day of trading with what little capital he owns.


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