Home / Litecoin / litecoin [LTC/USD] Technical analysis: the sturdy bear holds the door to prevent the running of the bulls

litecoin [LTC/USD] Technical analysis: the sturdy bear holds the door to prevent the running of the bulls

litecoin [LTC] is one of the coins that suffered the most when the collapse of 2018 occurred, when it fell from a historical high of $ 367 to only $ 27, which is a decline of 92%, while Bitcoin has plummeted only 80% from its historical maximum.

The price of Litecoin at the time of writing was $ 32.56 with a market capitalization of $ 1.93 billion.

1 hour

litecoin [LTC/USD] Technical Analysis: The sturdy bear holds the door preventing the bulls from entering

litecoin [LTC/USD] Technical Analysis: The sturdy bear holds the door preventing the bulls from entering

Litecoin is slowly rising and has grown on an uptrend on the chart at an hour, but a strong downward trend extends from $ 37.29 to $ 32.45. Support at $ 27.25 is stable as prices have not even come close to hitting it. Litecoin, however, broke an immediate resistance at $ 31.68 and rose above it. The subsequent resistance points are set at $ 35.29 and $ 37.29.

The Parabolic SAR the markers are supporting candle prices from below and pushing them higher, so Litecoin is pointing to a bullish scenario.

The MACD the indicator shows a clear bullish crossover as it rises strongly towards the top. The histogram shows green bars above the zero line, indicating that prices are rising.

The Chaikin cash flow indicator shows the purchasing pressure that dominates the selling pressure, so CMF can be seen between 0 and 20-line.

1 day

litecoin [LTC/USD] Technical Analysis: The sturdy bear holds the door preventing the bulls from entering

litecoin [LTC/USD] Technical Analysis: The sturdy bear holds the door preventing the bulls from entering

The downtrend for Litecoin is significant as it extends from a maximum of $ 125 to a depth of $ 32, without a single trace of an uptrend. Litecoin broke the support at $ 38 and opened up to $ 26. The resistance points show no sign of violation as prices continue to fall.

The Bollinger bands show an expansion while volatility has made its way into the market. The prices for Litecoin seem oversold as they have fallen below the simple moving average.

The Awesome Oscillator it is moving to green bars, indicating that prices are rising in the short period of time.

The RSI it has partially recovered from the oversold zone and has made its way over the 20 line, but it is still in the oversold zone.

Conclusion

The one-hour chart is popping up with green and the indicators, SAR, MACD and CMF representing the same green image. One day is the exact opposite of that in the chart at an hour because, Bollinger Bands, AO and RSI indicate a cumulative bearish trend that still wraps the broader span of time for Litecoin.


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