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Litecoin [LTC] Technical Analysis: No winners yet as bulls and bears reach a temporary stalemate


The cryptocurrency market, including that of Litecoin [LTC], has shown signs of small recovery over the past few days since the bloodbath over the weekend. Litecoin’s [LTC] growth rate over the past 24 hours, in fact, is a decent 0.16%.

At the time of press, LTC remains the world’s seventh-largest cryptocurrency, with a market cap of $1.897 billion. The LTC market saw a 24-hour trading volume worth $686 million with ZB.com contributing a significant 8.24% of it via the trading pair LTC/USDT. The cryptocurrency is presently valued at $31.50.

1-hour

Source: TradingView

In the one-hour chart, it can be seen that the healthy uptrend that extended from $30.03 to $31.02 has stalled somewhat over the past few trading cycles. However, there’s a good chance that a similar uptrend can soon wipe out the downtrend that extended from $32.56 to $30.40.

The last few trading cycles have seen the support point at $31.35 crumble and it now can be found at $31.01. On the other hand, the resistance…



Read Full Story : AMBCrypto

2019-02-01 02:30:26

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