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Litecoin [LTC] Price Analysis: Joy for the market as coin continues to march into the bull’s realm

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Litecoin [LTC] Price Analysis: Joy for the market as coin continues to march into the bull's realm
Source: Pixabay

The newly-minted world’s fourth largest cryptocurrency on CoinMarketCap, Litecoin [LTC], has exhibited a magnificent surge of over 30% last weekend marking its foray into the bull’s realm after a long presence in the bear’s pit. The coin has maintained a steady valuation lately.

The coin opened at a price of $44.76 the very next day. LTC reached a low of $42.40 before reaching a high of $47.09 and finally closing at a value of $46.83.

The pair LTC/BTC has been trending at the exchange DigiFinex sweeping a volume of $92.48 million at a price of $44.30; a volume of $90.77 million at a price of $44.26 on the OKEx exchange. Additionally, the pair is also trending at Coineal with a circulation volume of $90.77 million, valued at $44.26.

At the time of writing, LTC has consistently surged at a pace of 1.15% after the rise. The silver coin is trading with a market cap of $2.68 billion at a valuation of $44.36 with a volume of $1.40 billion coins being traded in the past 24 hours.

1-hour:

Source: TradingView

The one-hour chart for the coin exhibits an upward trend of $32.26 to $43.85 and a downtrend from $46.48 to $44.01. The resistance is marked at $44.11 which is close to the price and that of support is registered at $41.10.

Bollinger Bands: The BB indicator for the time period tends to converge indicating a potential decline in price volatility for the coin.

Chaikin Money Flow: The CMF graph continues to tread well above the zero-line, suggesting money flow into the market, and hence, a bullish trend for the coin.

Klinger Oscillator: The KO indicator heads towards a potential bullish cross-over.

1-day:

Source: TradingView

Litecoin [LTC] recorded an uptrend from $23.27 to $29.72 and a downtrend from $55.89 to $34.33. The resistance registered for this time period is marked at $46.33 and that of support at $32.13.

Parabolic SAR: The dotted line aligned above the candles in Parabolic SAR indicator depicts the coin steering toward a bull zone.

MACD indicator: The MACD line treading above the signal line indicates the coin following a bullish pattern.

Awesome Oscillator: The AO indicator also predicts a bullish trend for the coin with the lines in green.

Conclusion:

The indicators – CMF, KO, Parabolic SAR, AO and MACD, all indicate the coin further treading into the bull zone with potential low price volatility as predicted by BB.



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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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1 Comment

1 Comment

  1. Deigo

    February 12, 2019 at 11:19 AM

    It was easy to overlook LTC as it is a solid coin that ‘Just works’ and the developers professionally maintain the code without using the coin for high school computer science experiments. No forks, no drama not much news, just chugs along and gets the job done.
    Its the Honda civic of crypto. Its the coin coffee shops can use to accept payment for a cup of coffee and get ahead.

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