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litecoin [LTC], once the seventh largest cryptocurrency has undergone a lower decline and is now the eighth cryptocurrency by market capitalization according to CoinMarketCap data.
Litecoin's prices are trading at $ 30 each with a market capitalization of $ 1.8 billion. The 24-hour volume of $ 450 million, while the 24-hour price change is 2.65% on the negative side.
Litecoin is getting a lot of adoption as it became the first cryptocurrency to sponsor UFC232 and the LTC banner will be printed during the fight that will be held on December 29 in California.
1 hour
Litecoin's bullish trend extends from $ 23.54 to $ 29.40, while the downtrend has been reduced in its length and strength, as it only extends from $ 35.92 to $ 29.71. Support for $ 22.49 supports Litecoin prices from the beginning of December. The points of resistance are seen at $ 29.70, $ 31.73 and $ 36.16.
Bollinger bands are seen to squeeze with prices that fall below the simple moving average indicating that bears are putting pressure on prices.
The Aroon indicator shows a strong downward trend, but a weak uptrend that is coming down to the zero line.
The Stochastic indicator hit the lower band of the indicator and is trying to get up, but it is failing because it appears to be undergoing a possible bearish crossover.
1 day
The downward trend for Litecoin over the longer period of time extends from $ 124 to $ 33, with prices supported at $ 23. The main strengths for LTC can be seen at $ 62 and $ 101.
Parabolic SAR markers formed below the price of candles, which indicates an uptrend for Litecoin
The MACD indicator shows a bullish crossover that hit the bottom of the zero line but failed to cross it. The MACD indicator still shows a bullish pressure for LTC.
The Awesome Oscillator shows a bullish crossover that still persists and has a transition of green bars to red, indicating that prices are falling.
Conclusion
The diagram of an hour shows a bearish pressure for Litecoin, which is indicated by Bollinger, Aroon and stochastic indicators. The one-day chart shows a rather bullish view for Litecoin as indicated by SAR, MACD and the Awesome Oscillators.
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