Connect with us

Altcoins

Litecoin [LTC] Price Analysis: Token’s value collapses 1.05% despite bullish inkling

Published

on

Litecoin [LTC] Price Analysis: Token's value collapses 1.05% despite bullish inkling
Source: Pixabay

The former fourth-largest coin on the CoinMarketCap, Litcoin [LTC], slipped a spot lower, succumbing to EOS’ price spike in price. Currently, LTC sits at the fifth position, after putting on a major show last weekend.

The price of the silver coin climbed to $44.51, transcending previous resistance during the early hours of February 13. Later the same day, the coin’s valuation fell near the support zone of $42.10.

The price recorded for the previous day opened at $43.17 climbing to $44.14. The low registered for the day was at $42.54 before closing at $43.94. The volume of the digital coin traded during the day accounted for $1.09 million.

The pair LTC/BTC led the queue at DOBI Exchange at $42.69, sweeping a volume $60.30 million being traded during the last 24 hours. Coineal stood next with a volume of $54.52 million being traded across the exchange at a value of $42.68. This was followed by OKEx trending third at a volume of $42.72 million at a valuation of $42.68.

At the time of writing, Litecoin was trading at a market cap of $2.58 billion with a value of $42.80. The circulation volume accounted for $1.08 billion. A decline of 1.05% was exhibited by the silver coin over the day.

1-hour

Source: TradingView

An upward trend from $33.55 to $43.30 and a downtrend from $46.57 to $43.31 had been recorded by the coin in the hourly chart. The resistance is marked at $43.72 and support is at $41.02.

Bollinger Bands: The BB indicator shows a slight expansion. This predicts an odds-on price fluctuation of the coin.

MACD Indicator: The MACD line is below the signal line, indicating a bearish trend for the coin’s valuation.

Klingor Oscillator: The KO indicator currently in the bear zone, points towards a potential bullish cross-over after a bear phase for LTC.

1-day:

Source: TradingView

Parabolic SAR: The dotted line aligned below the candles predicts the coin to follow a bullish trait.

Awesome Oscillator: Additionally, the lines turning green in AO indicator also depicts a bullish phase for LTC.

Chaikin Money Flow: The CMF graph is still above the zero-line further indicating a bullish trend for the coin’s value.

Conclusion:

The hourly chart for LTC by MACD and KO predicts the coin hovering in bear’s territory along with a hint of price volatility. While the indicators- Parabolic SAR, AO and CMF for the 1-day chart fleeing to the bull’s zone after the brief collapse.

 

 

 

 



Follow us on Telegram | Twitter | Facebook



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

Advertisement
Advertisement

Trending

Subscribe to AMBCrypto's Newsletter