Home Litecoin Litecoin [LTC] Price Analysis: Token follows bull as it anticipates another upward swing – AMBCrypto News

Litecoin [LTC] Price Analysis: Token follows bull as it anticipates another upward swing – AMBCrypto News

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After contributing massively to the coin market’s recent bull run, Litecoin [LTC] fell below the $60 mark. On March 18, the opening price rebounded at $59.83 and rallied to $60.86, early in the day.

At press time, the silver crypto asset held a market cap of $3.76 billion, and was priced at $60.33. Litecoin registered a 24-hour trading volume of $1.84 billion, while witnessing a decline of 2.81% in the past 24 hours. A growth rate of 9.82% was recorded over the past seven days.

Coineal continued to contribute the most to the coin’s 24-hour trading volume, providing 8.95% via the trading pair LTC/BTC. Other exchanges that dominated via the same pair were DigiFinex with 5.24%, and Coinall with 3.94%.

1-hour

Source: TradingView

LTC’s one-hour chart exhibited a huge uptrend from $52.40 to $58.62, while also depicting a minor downtrend from $56.73 to $54.78. The coin was close to its anticipated resistance at $65, despite minor slips. The support for the coin was found at $52.39.

Parabolic SAR: The dotted markers were above the candlesticks, indicating a bearish phase for the coin.

MACD: The MACD line continued to overtake the signal line, steering the coin to the bull’s side.

Klinger Oscillator: The reading line continued to tread above the signal line post a bullish crossover.

1-day

Source: TradingView

The one-day chart for Litecoin showed an uptrend from $32.72 to $45.69, and a longer downtrend from $58.82 to $33.95. Immediate resistance for the crypto asset was marked at $67.94, while the immediate support firmly stood at $30.13.

Bollinger Bands: The mouth of the bands was diverging slightly, indicating minor volatility in the coin’s price.

Awesome Oscillator: The closing bars of the indicator were green, suggesting bearish price momentum for Litecoin.

Chaikin Money Flow: The CMF was well above the zero-line, and indicated money flow into the coin market. A bullish price trend was predicted for the silver crypto asset.

Conclusion

The short-term indicators for Litecoin sided with the bull, while the long term indicators projected mixed signals and a potential price breakout in the near future.

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