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The cryptocurrency market has undergone a roller coaster ride with prices fluctuating between highs and lows. Also popular coins like Bitcoin [BTC], XRP and Litecoin [LTC] all saw support breaks slightly adjusted after the recent bullish rise. The Litecoin founded by Charlie Lee had a difficult time before the surge and is now well above the dangerous support breakpoint.
1 hour
The graph of an hour for Litecoin shows a dramatic increase in prices with the uptrend that brings the price from $ 23.34 to $ 29.70. Support reached $ 22.43 while immediate resistance is $ 32.82.
The MACD the indicator has just crashed below the histogram and is in the process of a bullish crossover with the signal line and the MACD line converging one towards the other. The MACD histogram is currently down.
The Awesome Oscillator shows a dramatic increase in movement due to the bullish rise. The increase in market dynamics coincides with the price increase.
1 day
Litecoin's one-day chart shows a grisly picture with the bear taking control of falling prices. Long-term support was $ 22.93, with the first downtrend leading the price to $ 23.64 to $ 50.98. The recent uptrend has brought the price to $ 32.68.
The Relative strength index indicates the cryptocurrency that rises towards the overbought zone after having established itself in the oversold zone. This indicates that the buying pressure is much more than the selling pressure.
The Chaikin cash flow it is below the zero line, which is a sign of the money that comes out of the market is more than the money that enters the market. For Litecoin, the CMF indicator has been bearish over a long period of time.
Conclusion
With the coming year, the cryptocurrency market has fallen into disrepair. The indicators mentioned above show that the market is correcting itself after a sudden bullish wave. It is also a sign of slight bullish peaks without drastic changes in trend.
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