Litecoin [LTC/USD] Technical Analysis: New support forms as coin continues its bearish journey
As the market saw constant changes in the top cryptocurrencies on December 7, Litecoin [LTC]’s standing has also kept changing. At the time of press, LTC ranked ninth on the CoinMarketCap list.
The coin maintained its position on the top-10 list and was valued at $25.52 at the time of press. The coin registered a market cap of $1 billion with a 24-trade volume of $506 million. The coin plunged by 20.73% in the past seven days.
According to the one-hour chart of LTC, the coin saw a downtrend from $31.38 to $22.77. There was a miniscual uptrend seen from $23.09 to $25.38. The coin registered a resistance at $26.31, while a strong support was offered at $22.77.
Bollinger Bands appear to be diverging from each other. The market appears bullish as the moving average line is under the candles.
Parabolic SAR to marks a bullish market as the marker line appears to be under the candle.
Awesome Oscillator, on the other hand, points toward a bearish market is…
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