Litecoin [LTC] is one of the coins that suffered the most when it comes to the crash of 2018, as it fell down from an all-time high of $367 to a mere $27, which is a decline of 92%, while Bitcoin has only collapsed by 80% from its all-time high.
The price of Litecoin at the time of writing was $32.56 with a market cap of $1.93 billion.
Litecoin is slowly climbing and has developed on an uptrend on the one-hour chart, but a strong downtrend extends from $37.29 to $32.45. The support at $27.25 is holding steady since the prices didn’t even come close to hitting it. Litecoin, however, has broken an immediate resistance at $31.68 and has risen above it. Subsequent resistance points are set up at $35.29 and $37.29.
The Parabolic SAR markers are supporting the prices candles from below and pushing them higher, so Litecoin is indicating a bullish scenario.
The MACD indicator shows a clear bullish crossover while rising strongly to the top. The histogram shows green bars above the zero-line, indicating that the prices are increasing.
The Chaikin Money Flow indicator shows the buying pressure dominating the sell-off pressure, hence CMF can be seen between the 0 and the 20-line.
The downtrend for Litecoin is significant as it extends from a high of $125 to a depth of $32, without a single trace of an uptrend. Litecoin has broken the support at $38 and has breached as far as $26. The resistance points show no sign of breach as the prices are continuously dipping.
The Bollinger Bands show an expansion as the volatility has made its way into the market. The prices for Litecoin look oversold as they have fallen below the simple moving average.
The Awesome Oscillator is transitioning into green bars, indicating that the prices are increasing in the shorter time frame.
The RSI has partially revived itself from the oversold zone and has made its way above the 20-line, but it is still in the oversold zone.
The one-hour chart is sprouting with green and the indicators, SAR, MACD, and CMF depict the same green picture. The one-day is a complete opposite of that in the one-hour chart as, Bollinger Bands, AO, and the RSI indicate a cumulative bearish trend still engulfing the larger time frame for Litecoin.
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