Home / Litecoin / litecoin [LTC/USD] Technical analysis: Bulls are not found in the dominant bear market

litecoin [LTC/USD] Technical analysis: Bulls are not found in the dominant bear market

litecoin [LTC] it has been constantly moved sideways like almost all other altcoins, with no sign of a bull run. The price is starting to touch long-term support, indicating that the downward push has not yet diminished.

1 hour

Source: trading view

Source: trading view

The downward trend in the hour chart is clearly visible with a break on October 26 due to a price spike. The upward price variation is between $ 51.54 and $ 52.56, with the current price almost stagnating at $ 51.49.

The Parabolic SAR the markers on the 1 hour chart are lined up under the candles, indicating a move upward.

The MACD the line has crossed the signal line on 29 October, indicating an upward trend.

The Chaikin cash flow [CMF] it can be seen moving towards the zero line after a short run in positive space. Money is coming out of the market and therefore a bear market is expected.

1 day

Source: trading view

Source: trading view

Similar to the graph of an hour, the downward trend is significant from June, with a price ranging from $ 125 to $ 51.82. Long-term support has slightly penetrated.

Bollinger bands they are on a tight, with the bands approaching, indicating a reduction in volatility and a bearish move.

The RSI the indicator is moving steadily downwards, indicating a dominant position of sellers over buyers, resulting in a bearish move.

The Stochastic indicator has touched the bottom, indicating an oversold market. However, the stochastic line is about to cross the signal line, indicating a possible bullish move.

Conclusion

In the one-hour chart, the Parabolic indicator and the MACD show a bullish move, but CMF indicates the opposite. The Bollinger and RSI bands in the one-day chart indicate a bearish move, but the stochastic indicator indicates a possible uptrend.


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