litecoin [LTC/USD] Technical Analysis: Bull's Bull Run has bears looking for cover


Litecoin has undergone constant refinement over the long term, but there seems to be a slow uptrend, with the current price at $ 53.06. Litecoin's market capitalization can be seen in the balance at $ 3.1 billion, with a 4.2% increase in its price over the last 24 hours.

1 hour

Source: trading view

The diagram of an hour shows an uptrend that goes from $ 48.17 to $ 53.05, with supports set at $ 50.58 and $ 48.17. The resistance was established on 4 November at $ 55.18.

The Parabolic SAR the felt-tip pens are visible above the candles, indicating a downward pressure on the market.

The RSI the indicator has passed the last day, indicating a sign of oversold. Prices have fallen and so has also the RSI, with the same pressure as buyers and sellers on the market.

The RVGI the line is rolling and is about to cross the signal line upward, indicating a saturation of the selling pressure and a bullish move, if it completes the crossover.

1 day

Source: trading view

A clear and distinct downtrend is between $ 177.74 and $ 51.13. Support for Litecoin can be seen at $ 48.45, which was established on October 29th, with two short-term resistors set at $ 53.55 and $ 68.35. The long-term resistances are set at $ 89.02 and $ 125. The price has exceeded the initial resistance point of $ 53.55 and has risen.

The Bollinger bands they are converging, indicating a reduction in volatility. However, prices have exceeded the upper end, indicating an overbought market.

The MACD the line of the indicator is crossing the signal line upwards, indicating a bullish crossover, which is also represented by the MACD histogram.

The Aroon The downline became saturated when it reached the summit on 29 October, indicating a decrease in the dominance of the downward trend. Meanwhile, Aroon upline gained more power, indicating an uptrend.


In the graph of an hour, the parabolic SAR shows a bearish market, while the RSI indicator is neutral with a crossover that has yet to take place on RVGI. Bollinger bands, MACD and Aroon indicators show an uptrend.

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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found a day of trading with that little capital he owns.

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