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litecoin [LTC] prices are crumbling relentlessly, breaking long-term support without hesitation, both in the one-hour and one-day rankings. The market capitalization for Litecoin is currently suspended for a wire at $ 1.50 billion, with current prices traded at $ 25.29.
Once, the seventh largest cryptocurrency is now positioned in ninth place under Bitcoin SV [BSV] and just above Tron [TRX].
1 hour
Source: trading view
Litecoin's bullish trend, though small, extends from $ 22.77 to $ 24.23, while the downtrend is in full swing as it extends from $ 37.29 to $ 25.09. Litecoin's prices broke support at $ 27.25 and set up a new support for $ 22.77. The points of resistance are seen at $ 29.70, $ 35.29 and $ 37.29.
The Parabolic SAR the markers were formed above the price candles, which indicates a bearish presence suspended on the market.
The MACD the indicator also shows a downward presence when the MACD line has crossed the signal line downwards.
The Awesome Oscillator shows a bearish crossover as the red bars move from above the zero line to the bottom.
1 day
Source: trading view
In the one-day chart, the downtrend extends from $ 124.76 to $ 25.29, with no uptrend in sight. Also in the one day chart, prices broke the support at $ 28.60 and set a new support for $ 24.19. Strength points are set at $ 62.63 and $ 101.11.
The Bollinger bands for LTC prices in the space of a day a continuous compression is shown, which is generally a period of lower volatility and prices are in the oversold zone.
The Aroon the indicator shows that the downward trend is in full swing while the Aroon bottom line has reached line 100, while the Aroon-up line is at the bottom.
The Stochastic The indicator shows bear market mirroring as the stochastic lines have plunged too deep into the oversold zone and are still present.
Conclusion
The indicators in the table of an hour show a bearish aura falling around Litecoin's cryptocurrency. The Bollinger Bands, Aroon and the Stochastic all indicate a bearish downward trend for Litecoin.
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