Litecoin [LTC] Price Analysis: Bears look to edge the stable silver coin out of the market

The fifth-largest crypto asset in terms of market cap, Litecoin [LTC], opened at a value of $46.62, recording a high of $46.92, before falling to a low of $45.60.

At press time, LTC held a market cap of $2.81 billion and was priced at $46.33. The volume of LTC traded tallied at $1.08 billion with a minor positive of $0.84% over the past 24 hours. Litecoin [LTC] accumulated its highest trading volume, $77.17 million on Coineal.

1-hour

On the one-hour chart, an uptrend from $48.23 to $51.83 and a downtrend from $52.21 to $45.84 was observed. The coin continued to tread below the immediate resistance level of $48.75. A second resistance was marked at $52.25. The support for the same chart stood at $43.74.

Parabolic SAR: The dotted lines were aligned above the candles, indicating a bearish trend.

Chaikin Money Flow: The CMF was above the zero-line, indicating a bullish trail for the coin as the money flowed into the market.

Awesome Oscillator: The lines in red pictured a bearish price momentum for the coin.

1-day

An uptrend from $23.25 to $30.58 and a downtrend from $55.73 to $33.96 was recorded for the one-day chart. The immediate resistance was marked at $51.10. The second resistance was noted at $55.84 and the immediate support was marked at $30.46.

Bollinger Bands: The parallel movement of the Bollinger Bands predicted stable volatility and price movement for the coin.

MACD: The MACD line was below the signal line, indicating a bearish pull in the coin’s valuation.

Klinger Oscillator: The reading line was aligned below the signal line after a bearish cross-over, suggesting a bear forecast for the coin.

Conclusion

The indicators, Parabolic SAR and CMF from the hourly chart predicted a bullish course for the coin. On the other hand, the AO and the MACD and KO indicators from the one-day chart projected a bearish future for the coin. The BB predicted a stable price movement for the silver crypto coin.