Litecoin [LTC] Technical Analysis: Bears mutilate the silver to Bitcoin’s gold

Litecoin [LTC], the former seventh-largest cryptocurrency in the world has recently lost its spot to Tether, a stablecoin. Now, Litecoin stands in the eighth spot, with market cap hanging at $1.76 billion and the 24-hour trade volume holding steady at $426.57 million.

The 24-hour change for prices is positive at 3% while the longer time frame of seven days shows a massive decline of 14.20%.


Source: CoinMarketCap

The downtrend for Litecoin extends from $37.29  to $29.69 with no uptrend in sight. The support for Litecoin at $27.25 was almost tested on December 6, 05:00 UTC. The resistance points for Litecoin can be seen hanging at $29.74, $35.29, and $37.29.

The Parabolic SAR markers are formed below the price candles and are supporting them in a bullish trend.

The MACD indicator shows a bullish crossover to the top as the MACD lines have crossed over the signal line.

The Awesome Oscillator shows a transition of red bars into green, and the green bars are depleting and might be heading towards a bullish crossover.


Source: CoinMarketCap

The one-day chart seems to be always going down as the downtrend dips from $125 to $33.45. The long-standing support for Litecoin is set up at $28.60, while the long-term resistance points are seen hanging at $101.11 and $62.87.

The Bollinger Bands are undergoing a squeeze and the prices have touched the simple moving average, indicating that the prices have recuperated.

The Relative Strength Index is bottoming at the 30-mark, which is an indication of an oversold market.

The Chaikin Money Flow shows a massive money outflow for Litecoin as the CMF has dipped way below the zero-line.


The one-hour charts show a bullish trend for Litecoin as indicated by the SAR, AO and MACD indicators. The indicator in the one-day charts isn’t as bullish as in the one-hour charts. The CMF and RSI indicate a bearish move for Litecoin but the Bollinger Bands indicate otherwise. is a completely independent publication covering cryptocurrency, the Blockchain, decentralized applications, the Internet of finance and the next generation Portal. We offer the latest news, prices, breakthroughs and analysis with emphasis on expert opinion and commentary from the digital currency community. The world of digital currencies flourishes with the greater fervor with each passing day. With an increasing number of businesses, entrepreneurs, startups and consumers adopting this technology, we are proud to spend every day at work and play increasing awareness of the many intricacies and advantages offered by these innovations. About one thing we are certain: it is increasingly important to educate oneself in and be aware of new financial and technological innovations.

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