Once again, a volatile approach has been taken by the encrypted market where all the big coins are behaving in their own way for a side turn.
Currently, Litecoin [LTC] it is ranked as the seventh largest currency in the world, trading at $ 53.44 with a market capitalization of $ 3.157 billion. It also has a total trading volume of 24 hours of $ 343 million.
Litecoin (LTC) Price today – LTC / USD
Here, the chandeliers see the resistance level set at $ 55.2. The extension of the support line ranges from $ 50.73 to $ 53.81, which marks a rally in Litecoin's price performance. However, a trendy breakout is yet to be seen.
To increase market volatility, Bollinger Bands widened the gap. It is clear that more than ever before, the Litecoin market will experience greater fluctuations.
After crashing into the overbought zone, the RSI has come back and is currently still taking an uphill road. Thus, the indicator is bullish on the LTC price trend.
Here, the downtrend goes from $ 63.22 to $ 53.97 while support is set at $ 48.47. Since September, two major media set at $ 51.58 and $ 50.55, respectively, have been discontinued by Litecoin. In the LTC market, a descending triangle is formed by candles, detecting a serious downward trend.
The parabolic SAR is bullish on the cryptocurrency. The points are visible under the candelabra and flash with a green mark.
Also the Awesome Oscillator lights up green, supporting a positive price trend for Litecoin.
The Klinger Oscillator in the last cut of the signal made a bullish crossover. Currently, the indicator travels within the territory of the bull.
In this technical analysis, all the indicators used here have provided a bullish run for the Litecoin market. As indicated by the Bollinger Bands, the price trend is also likely to be very volatile.