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The new year's behavior of the cryptocurrency market was rather sporadic, with prices starting to slow down and then stabilizing in a stagnant lateral price movement. Cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Litecoin [LTC] they all suffered the same fate, with the bear sneaking into the bull's party.
1 hour
The diagram of a Litecoin time shows the lack of a drastic price movement with the cryptocurrency that testifies to the resistance of the biggest bulls scheme of things. Litecoin's support reached $ 28.52 while multiple increases brought the price from $ 31.027 to $ 33.179. Immediate resistance is $ 34,566.
The Chaikin cash flow indicates the cryptocurrency that moves along the zero line and which is currently established below the line. This scheme has been common in many cryptocurrencies and is indicative of the fact that the outflow of money in the market is more than the inflow.
The Awesome Oscillator has increased in magnitude after a gradual pause in the last two days. The current increase in the graph indicates the increase in the momentum of the Litecoin market.
1 day
The one-day chart for Litecoin shows a clear take-up over the past two months with prices steadily declining. The latest downward trend saw the cryptocurrency drop from a high of $ 57,124 to $ 33,131. Immediate support for cryptocurrency is $ 23.124.
The Parabolic SAR it's a mix of bearish and bullish signals with the bear taking over. Currently, the chart shows a bearish trend with the markers that remain under the price candles.
The MACD indicator places Litecoin in the area of the bull with the signal line and the MACD line that rises. The MACD histogram also takes the side of the bear, flashing green.
Conclusion:
Despite the nineteen nineteen from a bullish note, current prices place the cryptocurrency marketplace in the middle of the bear and the bull zone. The indicators mentioned above agree with the same argument in which the lateral price movement reinforces its grip on the market.
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