Litecoin [LTC] Price Analysis: Price breakout imminent as bears control silver coin – AMBCrypto News

The fourth largest coin on CoinMarketCap, Litecoin [LTC] was trading within the $59- $62 range after a short surge.

At press time, the crypto asset held a market cap of $3.60 billion, and was priced at $59.12. The crypto asset registered a 24-hour trading volume of $1.74 billion. LTC exhibited a decline of 2.32% against the US dollar over the past 24 hours, while a growth rate of 3.98% was recorded over the past seven days.

Coineal contributed the highest trading volume for the coin, accounting for 7.98% via the LTC/BTC trading pair. It was followed by Coinall and DigiFinex with 4.22% and 3,66% of the trading volume, respectively.

1-hour

Source: TradingView

Litecoin’s one-hour chart showed an uptrend from $52.39 to $55.86, and another uptrend from $57.90 to $60.29, fueled by the coin’s recent bull run. A downtrend from $55.82-$34.08 was registered on the chart. The support for the coin was found at $52.39.

Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.

Awesome Oscillator: The closing bars of the indicator were red, indicating a bearish price momentum for the crypto asset.

Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that money was flowing into the LTC coin market. Hence, a bullish price trend was predicted for the coin.

1-day

Source: TradingView

The candlestick arrangement on LTC’s one-day chart exhibited an uptrend from $32.79 to $45.68, and a longer downtrend from $55.82 to $34.08. The immediate resistance for the digital asset was marked at $67.78, while the immediate support stood firmly at $30.55 and at $24.10.

Parabolic SAR: The dotted markers were below the candlesticks, and pictured the coin in a bullish environment.

MACD: Post a bearish crossover, the MACD line was treading below the signal line.

Klinger Oscillator: The KO indicator also sustained a bearish crossover, following which the reading line was below the signal line.

Conclusion

The short-term indicators for Litecoin [LTC] exhibited mixed signals, with significant volatility and potential price breakouts being predicted. The long-term indicators echoed strong bearish projections for the digital crypto’s price.

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