litecoin [LTC/USD] Technical analysis: the constant battle between bears and bulls continues


Litecoin, the seventh largest cryptocurrency in the world, is gaining acclaim after starting partying in the last days. Restaurants in some parts of the United States now accept LTC for their services and a newly developed game, Coindriod, uses Litecoin and other cryptocurrencies in the game to destroy bots.

At the time of printing, the currency was trading at $ 52.26, with a market capitalization of $ 3.08 billion and a 24-hour trading volume of $ 369 million.

1 hour

Source: trading view

There was an uptrend in the trend of an hour starting at $ 49.52 to $ 51.54, while the downtrend began to form and extends from $ 55.69 to $ 51. 79. Short-term supports are formed at $ 50.38 and $ 49.47.

The Bollinger bands they are in a state of expansion, indicating an addition of volatility in the market. Prices are falling below the EMA, indicating a downward trend.

The Aroon the upper line touched the bottom of the zero line, indicating that the upward trend has been exhausted. The Aroon downline, however, hit the upper line more than a few times, indicating that the downward trend is dominating.

The RSI, just like the line up Aroon, it plunged to the end, indicating that sellers are controlling the market, for example, the market is bearish.

1 day

Source: trading view

The uptrend is small, but is starting to grow from $ 48.95 to $ 51.79. The downward trend covers a range between $ 125 and $ 55,88. The prices have recently broken support at $ 50.55, leading to the creation of a new support for $ 48.55.

The resistances are being maintained without interruption. The immediate resistance is $ 63.11, after which the successive resistors are set at the points $ 67.75, $ 88.99 and $ 101.11.

The Parabolic SAR the signs are forming under the chandeliers, indicating an imminent uptrend.

The MACD the indicator shows an uptrend due to the bullish crossover of the MACD line and the signal line. The MACD histogram shows green bars, which indicate the same.

The Awesome Oscillator shows an imminent bearish crossover when the tips are starting to appear on the zero line in red.

The time frame of an hour shows a rather gloomy future for Litecoin as the Bollinger, RSI, AO and Aroon bands all point to a possible downward and downward trend. The SAR, the MACD and the AO over a wider period of time show bullish signals, even if prices seem to decline.

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