Once again, a volatile approach has been taken by the crypto market where all the big coins are acting out in their way post a sideways haul.
Currently, Litecoin [LTC] is ranked the world’s 7th largest coin, trading at $53.44 with a market cap of $3.156 billion. It also has a total 24-hour trading volume of $343 million.
Litecoin (LTC) Price Today – LTC / USD
Here, the candlesticks are seeing the resistance level set at $55.2. The extension of the support line is from $50.73 to $53.81, which marks a rally in the Litecoin price trend. However, a trend breakout is yet to be seen.
To increase market volatility, the Bollinger Bands widened its gap. It’s clearly seen that, more than before, the Litecoin market will experience more fluctuations.
After crashing into the overbought zone, The RSI bounced back and presently, it is once again taking an uphill road. Hence, the indicator is bullish on LTC price trend.
Here, the downtrend is ranging from $63.22 to $53.97 whereas the support is set at $48.47. Since September, two major supports set at $51.58 and $50.55, respectively has been broken by Litecoin. In the LTC market, a descending triangle is being formed by the candles, detecting a severe downtrend.
The Parabolic SAR is bullish on the cryptocurrency. The dots are seen below the candlesticks and flashing a green sign.
The Awesome Oscillator is also seen to glow green, supporting a positive price trend for Litecoin.
The Klinger Oscillator in its last cut by the signal, made a bullish crossover. Currently, the indicator is travelling within the bull’s territory.
In this technical analysis, all indicators used here have predicted a bullish run for the Litecoin market. As indicated by the Bollinger Bands, the price trend is also very likely to experience much volatility.