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Price Analysis of LTC: The coins charge in towards the Bull market

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The silver crypto-asset- Litecoin aka LTC is in the 6th position among the leading cryptocurrencies. The price of LTC at the press time was $62.12 with a market cap close to $4 billion and a 24-hour trading volume of $4.55 billion. CoinEgg traded a huge chunk and contributed to a total of $884 million.

1 Hour Chart

1 Hour Analysis of LTC
Source: LTC / USD TradingView

The one hour chart exhibited an uptrend extending from $54.28 to $57.30 and a downtrend extending from $62.78 to $59.28. The immediate resistance stood at $58.79 and the subsequent resistances stood at $60.34 and $62.67 respectively and a support was held at $57.47.

Parabolic SAR: The dotted line was tracing a downward path pushing the coin to the bear market.

Awesome Oscillator: The green bars were trying to gain momentum but were stopped by the red bars indicating a bearish sentiment for the coin.

Chaikin Money Flow: The line was clearly above the zero line indicating the presence of the coin in the bullish market.

1 Day Chart

1 Day Analysis of LTC
Source: LTC / USD TradingView

The long term chart showed an uptrend extending from $65.66 to $75.09 and a downtrend extending from $145.30 to $62.57. The immediate resistance stood at $97.03 and a subsequent resistance stood at $105.48 and an immediate support was held at $86.72 and a subsequent support at $52.19.

The Bollinger Bands seemed to have started to diverge indicating that the coins were becoming volatile.

The MACD line seemed to have had a crossover recently and placed the MACD line over the signal line indicating that the coin was in the bull markets.

Relative Strength Index: The line was way above the 50-line indicating a high buying pressure pushing the coin to the bullish market.

Conclusion

The CMF indicator in the short term chart and all the indicators in the long term chart showed that the coin was making way to the bullish market.

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