in ,

Litecoin [LTC/USD] Technical Analysis: Cryptocurrency to recover from the unforeseen bear attack


The cryptocurrency market has witnessed a sudden fall in the past 24 hours, wherein Bitcoin [BTC] has dropped below the $4000 mark. At press time, Litecoin [LTC] is trading at $33.26 with a market cap of $1.9 billion. The daily statistics of LTC is showing a loss of 4.9%, however, the cryptocurrency is still flashing green on the weekly chart with a 3% gain.

1-hour:

LTC 1 hour chart | Source: TradingView

LTC 1 hour chart | Source: TradingView

The hourly chart of Litecoin shows a massive downtrend from $41.6 – $39.8 and $36.557 – $33.54. The sudden price fluctuation has created strong resistance points at $39.7 and $41.6. Also, in this timeframe, there is a slight uptrend ranging between $32.4 and $33.1 with a support point at $33.

The Parabolic SAR has shown an unforeseen fall a few hours back by pushing the candlesticks downwards. However, the indicator is currently forming the dots below the candlesticks depicting a slight recovery from the major fall.

Chaikin Money Flow has maintained its position above the zero…



Read Full Story : AMBCrypto

2019-01-12 04:00:17

What do you think?

0 points
Upvote Downvote

Written by Ambcrypto

Long-Dormant Bitcoin Whales Resuming Activity Could Rock Price Action, Analysts Say

Civic CEO Doubles Down On Bitcoin (BTC) Sub-$3,000 Call