litecoin [LTC/USD] Technical analysis: Bear still has control over the encrypted market

litecoin [LTC] he had lateral momentum like other altcoins in the current bear market. The closure of the cryptocurrency bear has not eased since the beginning of 2018. The community, however, is optimistic about the developments of Litecoin with the recent Core 0.17 update news that allegedly will reduce transaction costs by 10 times. .

1 hour

litecoin [LTC/USD] Technical analysis: Bear still has control over the encrypted market.

The downward trend is quite obvious in the bear market with a range between $ 53.04 and $ 51.69, while there is a bullish support in the range of $ 51.20 to $ 51.52.

The support can be seen at $ 51.49, which was set on October 23rd, and there are two successive points of resistance set at the $ 52.36 and $ 51.89 price points.

The candles in the 1 hour chart are below the exponential moving average, indicating a bear movement. The Bollinger bandshowever, they are close to each other indicating the decrease in volatility.

The Stochastic the indicator clearly crossed the signal line to the bottom, indicating a bearish crossover.

The RSI has been in the middle for quite some time, indicating that the impulse between sales and purchase is balanced.

1 day

litecoin [LTC/USD] Technical analysis: Bear still has control over the encrypted market.

The downward trend is clearly visible with a price range of $ 125 to $ 52.10. Short-term support can be found at $ 50.55, while resistance is established later at $ 67.5 to $ 88.99.

Parabolic SAR the counters are above the candles indicating a downward pressure.

MACD the line is extremely close to the signal line which indicates a possible crossover towards the top.

Chaikin cash flow the indicator is going down below the zero line indicating that money is coming out of the market and that is a bearish signal.

Conclusion

In the 1 hour chart, Bollinger bands, as well as stochastic lines, indicate a bearish market move, while the RSI indicator is at the center which also indicates the buying and selling pressure. The Chaikin money flow indicator and the parabolic SAR, both indicate a bearish move, while the MACD is slightly bullish.