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The cryptocurrency market is going through a phase of volatility in which all the coins across the board have taken unpredictable behavior. Here, LTC is currently down 4.62%. At the time of printing, the currency was trading at a depreciated price of $ 30.3 with a market capitalization of $ 1.8 billion. The 24-hour trading volume was recorded at $ 385.4 million.
1 hour
LTCUSD 1 hour candelabras | Source: tradingview
In the analysis of an hour, a strong downward trend has been observed that ranges from $ 33.9 to $ 31.6. Here, support levels have been breached several times, where support currently holds the price above $ 29.7. However, the possibility of a trend breakout is mild because the market is already volatile enough to avoid price concentration.
The Aroon indicator is describing an extremely weakened uptrend for the LTC market. Although a relatively stronger downward trend, it is also declining on the indicator board. However, the indicator is currently more bearish than bullish.
The Awesome Oscillator has just become green, then, setting up the bull after a bear run.
The Chaikin cash flow It is going against the indicator above to approve the Aroon indicator forecast. The reading line is below the 0 line as the indicator has started to move down again, thus signaling a bearish presence in the Litecoin market.
1 day
LTCUSD 1 day candlesticks | Source: tradingview
In a longer timeline, two downward trends can be observed, one going from $ 67.7 to $ 55 and another from $ 55 to $ 33.4. Meanwhile, support is set at $ 28.9. The immediate bearish trend is forming a descending triangle with the support line to represent a bearish run in the LTC market.
The Parabolic SAR it is bullish on the price trend of the currency as the dots float under the candelabra to provide support.
however, the RSI is bearish on the cryptocurrency. Between November and December, LTC hits the oversold zone, but returns to indicate only one bear to the market.
The Relative vigor index it is bullish on the coin while the RVGI is showing a bullish crossover at the moment. However, this position can not be confirmed as the indicator shows signs of bearish crossover after making contact with the signal.
Conclusion
As can be seen in this technical analysis, the indicators show a mixed response to LTC market speculation. However, much volatility can be expected in the market as the chart does not show much concentration in trading prices.
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