Home / Litecoin / litecoin [LTC/USD] Technical analysis: positive correlation to achieve long-term bullish targets

litecoin [LTC/USD] Technical analysis: positive correlation to achieve long-term bullish targets

Like Litecoin [LTC] continues to change between the seventh and eighth position, is currently showing a healthy run. At the time of reporting, the currency was up 0.35% when it was trading at a fair price of $ 32.2 with a market capitalization of $ 1.92 billion. Here, total trading volume in the last 24 hours was recorded at $ 426.4 million.

1 hour:

LTCUSD 1 hour candelabras | Source: tradingview

LTCUSD 1 hour candelabras | Source: tradingview

In the candlestick scenario of an hour, LTC is witnessing a lengthening of the uptrend from $ 28.7 to $ 30.6 while the downtrend is seen at $ 34.4 to $ 32.9. C & # 39; is a concentration found in prices, in preparation for a trendy breakout.

The Bollinger bands they are following a broad tunnel model to give way to price fluctuations. No change in volatility is expected in the market in a short time.

The Aroon indicator it is showing reduced strength in red and the green trend. This is indicative of a lateral market trend for cryptocurrency.

The Awesome Oscillator has become bullish on Litecoin while the bars turn green to move to a security position on the issue.

1 day:

LTCUSD 1 day candlesticks | Source: tradingview

LTCUSD 1 day candlesticks | Source: tradingview

In the longer period of a day candlestick, the currency is undergoing a steep downtrend from $ 55 to $ 32.2 while the level of support is suspended at $ 22.8. A trend breakout is not suspected as price concentration is absent here.

The Parabolic SAR is bullish on the fact that the points continue to line up below the price candles.

The RSI is in sync with the above because the indicator suggests a high purchasing pressure on the chart, recovering a healthy market for LTC.

The MACD also made a bullish crossover from the signal to predict a positive price trend for the token. To confirm the position, the reading line is still moving upward.

Conclusion

In this technical analysis, it was observed that most indicators support a rise for cryptocurrency. However, strong volatility is expected in the current Litecoin market.


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Priyamvada Singh

Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.

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