Home / Litecoin / litecoin [LTC/USD] Technical analysis: prices accumulate faster than a crashed rocket

litecoin [LTC/USD] Technical analysis: prices accumulate faster than a crashed rocket

Litecoin, the silver for Bitcoin [BTC]Gold seems to be competing with other cryptocurrencies as it goes down.

At the time of printing, Litecoin [LTC] it traded at $ 31.53 and saw a massive 25% decline in the last 7 days. Litecoin's total market capitalization is $ 1.89 billion and the 24-hour trading volume is $ 504 million.

1 hour

Source: trading view

Litecoin has a short uptrend in the chart at an hour ranging from $ 30.77 to $ 31.58, while the downtrend extends from $ 41.66 to $ 32.29. Support at $ 31.40 was exceeded and prices fell shortly thereafter. The points of resistance for Litecoin are $ 35.29 and $ 37.29.

The Parabolic SAR the markers are generating under the candles indicating a short-term upward pressure on Litecoin.

The MACD the indicator shows a small bullish crossover that appears to be endangered.

The Awesome Oscillator is showing that the short-term momentum is lower than the long-term momentum and that the green peaks have evolved from the red peaks.

1 day

Source: trading view

The downtrend in the one-day period for Litecoin ranges from $ 125 to $ 55.88. The support points for $ 48.55 and $ 37.93 were breached as prices were recovered amid the bear market. The points of resistance are at $ 63.11 and $ 101.11.

The Relative strength index he crossed 30 lines and touched the bottom. The RSI now resides in the bear pit.

The Relative vigor index suffered a bearish crossover and came to the bottom where he suffered a slight but apparent bullish crossover.

Conclusion

The SAR indicates an upward presence but MACD and AO indicate otherwise. The indicators in the charts of an hour are all bearish and have decided to make their home a bear pit.


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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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