litecoin [LTC/USD] Technical analysis: bulls and bears each other


Litecoin, the silver for Bitcoin [BTC]Gold has seen a ton of real-world use cases and aggressive adoption by its community in recent months. The seventh largest cryptocurrency has faced the heat of the bear and the sideways market. At press time, the price of LTC was $ 49.35 and market capitalization remained at $ 2.96 billion,

1 hour

Source: trading view

The uptrend is starting to fade when prices began to decline on November 8th. The uptrend goes from $ 48.17 to $ 48.83. The downward trend has formed in the course of an hour, indicating that bears have detected the shortest amount of time. The downward trend ranges from $ 55.69 to $ 49.87. The coin broke two supports set at $ 52.75 and $ 50.58 and plunged further down. Support at $ 48.17 is growing strongly. Strength points are set at $ 49.88, $ 51.15, $ 54.09 and $ 55.88

The Parabolic SAR the markers stopped and reversed on November 14th at 04:00 UTC. The markers formed below the price of the candles indicating a bullish presence.

The MACD the indicator shows a bullish crossover and the MACD histogram indicates the same.

The Awesome Oscillator it remained below the zero line after the bearish crossover on 11 November. Since the AO peaks are lower than this indicates that the short-term period is tending to be lower than the longer period.

1 day

Source: trading view

The uptrend that has existed since October 31st to November 9th has faded with the collapse of prices. The downtrend is the same as $ 125 to $ 55.88. Support for LTC in the long-term one-day chart is strong at $ 48.55. The points of resistance are also firm, with points of $ 63.11, $ 88.99 and $ 101.11.

The Bollinger bands they are starting to undergo an expansion after a brief compression. Price candles are falling below the simple moving average, indicating a bearish bearish trend.

The Aroon indicator shows the decline of the upward trend underway, while the downward trend has completely exhausted as it has hit the bottom.

The Stochastic indicator also indicates a bearish trend due to a bearish crossover.


The diagram of an & # 39; now as indicated by the MACD and the SAR shows an uptrend, while AO indicates otherwise. The one-day chart shows a 'bearish' aura spread throughout the rest, which is otherwise shown by the Bollinger bands and the Stochastic.

Subscribe to the AMBCrypto newsletter

[ad_2]Source link