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%.

1-hour

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…



Read Full Story : AMBCrypto

2018-12-06 17:30:00

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