[ad_1]
Litecoin, the seventh largest cryptocurrency, has been in continuous decline for over a week. The decline brought LTC prices to a point that was last seen in July 2017. The sell-off caused all major cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] also decline. At the time of printing, Litecoin was trading at $ 41.47, with a market capitalization of $ 2.48 billion.
1 hour
The uptrend goes from $ 39.66 to $ 41.25, which is surprising considering the current sell-off in the market. The downtrend for LTC in the chart of an hour varies from $ 55.69 to $ 41.50, with a break to $ 49.78.
There are two new supports that maintain strong prices, one at $ 39.65 and the other at $ 40.87. Resistance points have declined and are now stable at $ 43.30, $ 49.88, $ 51.15 and $ 54.09 points.
The Bollinger bands they are undergoing compression, indicating a reduction in volatility. Prices have fallen below the simple moving average and are moving towards the lower end, which could indicate an oversold market for Litecoin.
The Aroon the indicator shows a strong downward trend, which is confirmed by the Aroon downline which touched the 100 line. The Aroon up-line has hit the bottom, a sign that the uptrend has run out.
The Stochastic the lines reached a point below the stochastic bands, which indicate an oversold state for the resource. The stochastic line, however, has crossed the signal line and is heading upward, indicating an upward trend.
1 day
There is an upward trend in the long-term one-day period. The downward trend, however, extends from $ 125 to $ 41.74. Support lines are formed at $ 37.93 and $ 48.55. The points of resistance have been lowered further due to the recent collapse of the market. The resistance sets for Litecoin are at points $ 63.11, $ 67.75, $ 88.99 and $ 101.11.
The Parabolic SAR the indicator shows a clear downward trend when the markers were generated above the candles.
The MACD is showing a bearish trend, due to the bearish crossover between the MACD line and the signal line.
The Incredible Swingr is showing red spikes below the zero line, indicating that the market momentum has decreased.
Conclusion
The one-hour chart shows mixed signals as indicated by Bollinger's Stingerstic and Aroon indicators. The one-day chart, as indicated by the SAR, the MACD and the AO indicators, shows a massive bearish presence for Litecoin.
Subscribe to the AMBCrypto newsletter
