litecoin [LTC/USD] Technical analysis: the bulls do not have exactly what they need


litecoin [LTC] It is one of the coins that has been hit hardest by the massacre of cryptocurrencies that has occurred in the last 10 months, with the currency that has recently tested its lowest resistance level at $ 48.45.

However, it seems that the currency is looking for a return, as demonstrated by the technical indicators.

1 hour

Source: trading view

The graph of an hour shows a downward trend that slowly evolves from $ 55.67 to $ 51.82. Although the upward trend is increasingly linear as the days go by, it ranges from $ 50.71 to $ 51.27, after which it stopped and ended at $ 51.59.

Trend lines indicate that prices, after a short upward journey, have lost their strength and are spiraling under bear pressure.

The Parabolic SAR shows a bullish trend since the markers stopped and reversed at the bottom of the price candles.

The Awesome Oscillator indicates that the downward trend is dissipating, however, it is not completely lost because the candles are still formed below the zero line and are green.

The RSI it has crossed line 50, indicating a slightly bullish trend deriving from the fact that buyers have slowly taken control of the market.

1 day

Source: trading view

In the one-day chart, the downtrend goes from $ 177.74 to $ 55.98, while there does not seem to be an uptrend in sight in the long-term trend. Support remains strong at $ 48.45 while the resistances are not tested due to the constant trend of the bear. The impending resistance is set at $ 68.35, while the subsequent resistances are set at $ 89.02, $ 125 and $ 177.74.

The Bollinger bands they are showing a bearish trend while the bands are contracting. Prices are steady on the exponential moving average, which shows that the market is in a bearish mood.

The Aroon the upper line reached the top, indicating that the upward trend reached its maximum strength while the Aroon downline passed to the bottom, indicating that the downtrend line has lost its significance.

The MACD The indicator shows a general bullish trend as the MACD line is going through a bullish crossover after the MACD line has crossed the signal line.


Graphs of an hour show a rather bullish move, except for the AO indicator, which is still bullish. The one-day chart, however, shows an upside, except for the Bollinger band indicating the opposite.

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