Litecoin [LTC/USD] Technical Analysis: Bulls take control after stampede
Litecoin [LTC], at the time of writing, was trading at $33.65 with a market cap of $2 billion, which makes it the seventh-largest cryptocurrency in terms of market cap as per data from CoinMarketCap.
The 24-hour trade volume of Litecoin was $59.38 million and most of the trade volume [~25%] was coming from a Korean exchange Coinbit with trading pair LTC/KRW. DOBI Trade follows Coinbit by contributing 16% of the total trade volume.
Litecoin has also undergone a positive change of 6% in the 24-hour time frame, while a change of 5.25% was registered in the seven-day time frame.
The one-hour chart for Litecoin shows an uptrend that extends from $27.34 to $31.18 and a downtrend that extends from $41.38 to $33.16. The support for Litecoin is holding strong at $27.25, while the resistance points can be seen hovering way above the current prices of Litecoin i.e., at $31.68, 35.29 and $37.29.
The MACD indicator shows a bullish crossover underway and histogram is lit up with green…
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