Home / Litecoin / litecoin [LTC/USD] Technical analysis: Bull takes a short-term lead, but bear seems to win the race

litecoin [LTC/USD] Technical analysis: Bull takes a short-term lead, but bear seems to win the race

litecoin [LTC], the ninth largest cryptocurrency by market capitalization, continues to take the blows of the bear. Nevertheless, the currency showed signs of resistance as it successfully landed bear attacks at the start of this week.

According to CoinMarketCap, Litecoin traded at $ 29.73 with a market capitalization of 1.76 billion at the time of printing. The currency has a trading volume of $ 538.04 and has seen a significant decline of 12.24% over the last seven days.

A & # 39; now

litecoin [LTC] price chart of a & # 39; hour | Source: trading view

litecoin [LTC] price chart of a & # 39; hour | Source: trading view

In the chart at one hour, the currency has a downtrend from $ 41.66 to $ 31.68, which continues to fall to $ 29.77. The chart also shows an uptrend from $ 27.34 to $ 28.76. It has immediate support for $ 30.22 and strong resistance at $ 35.34. The coin has immediate support for $ 28.20. Apart from that, the currency gained a strong support level at $ 27.24.

Chaikin cash flow is currently showing a bullish wave as the line is above the zero line, demonstrating the fact that money is flowing into the market.

Parabolic SAR it is also on the bull's side of the market as the points are lined up under the chandeliers with the goal of pushing the coin upward.

Bollinger bands they are expecting a less volatile market as the bands have started to contract for the currency on the market.

One day

litecoin [LTC] price chart for a day | Source: trading view

litecoin [LTC] price chart for a day | Source: trading view

In the one-day chart, the currency shows a sharp downtrend from $ 121.62 to $ 55.88. It also imagines another downtrend from $ 51.60 to $ 28.60. The coin has immediate resistance at $ 42.05 and a strong resistance at $ 89.20. It also has support for $ 28.47.

RSI it is showing a downward trend as the selling pressure for the currency is more than the buying pressure.

MACD he is imagining the coin in the bear shelter while the moving average line has made a bearish crossover.

Klinger Oscillator it is on the same line as the MACD as the reading line has made a bearish crossover.

Conclusion:

The bull gained the support of Parabolic SAR and CMF from the chart of an hour. However, the bear is still a long-term winner as it has gained support from RSI, MACD and Klinger Oscillator from the one-day chart.


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