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.
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.
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.
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.
Litecoin (LTC): Will 100-day SMA hold ground?
- Litecoin rises 3.22% on the day to become the market leader on Friday.
- Litecoin is still holding onto the 4th position on CoinMarketCap.
Litecoin has recovered slightly from the intraday low at $41.3448. Besides, the entire market is generally in the green. Litecoin has added 3.22% to its value to exchange hands at $42.61.
The trading volumes have been decreasing since the ballistic rise on February 8 where Litecoin rose 30% from the low around $32.00. From monthly highs around $1.7 billion the trading volume is back below the 1 billion mark. While the same decline has been witnessed in its market capitalization, Litecoin is still holding onto the 4th position on CoinMarketCap with a market share of $2.5 billion.
Litecoin is immediately supported by the 2-hour 100-day Simple Moving Average (SMA) which also coincides with the 61.8% Fib retracement level (confluence). On the upside, the 50-day SMA is capping gains at $42.73. There will be more resistance at $44 as well as the supply zone seen at $47.00.
Indicators on the chart are still positive but Litecoin is likely to continue sideways in the short-term. The Relative Strength Index (RSI) is horizontal at 58.36 after recovering from levels close to the oversold levels. The Moving Average Convergence Divergence (MACD) is almost crossing back above the mean line into the positive zone to show that the bulls are gaining traction against the bears.
LTC/USD: Price sits on $41.50 support line as market breakout is on the horizon
- LTC/USD currently sits on the $41.50 support line as bears dominate the market in the last two days.
- Technical analysis shows that a price breakout is on the horizon.
LTC/USD market is currently sitting on top of the $41.50 support line. The bulls need to buckle up because technical analysis shows that a breakout is on the horizon.
LTC/USD daily chart
- The LTC/USD bears have broken past the $41.50 support line.
- The moving average convergence/divergence (MACD) histogram shows that the market’s overall bullish sentiment is reversing its trend.
LTC/USD 4-hour chart
- LTC/USD 4-hour market forms multiple bearish flags ripe for a breakout.
LTC/USD hourly chart
- LTC/USD hourly chart shows that the bulls are trying to fight back.
- The market is trending along the 20-day simple moving average (SMA 20) curve.
- Resistance 3: $44.5394
- Resistance 2: $43.4894
- Resistance 1: $42.4348
- Pivot Point: $41.3848
- Support 1: $40.3302
- Support 2: $39.2802
- Support 3: $38.2257
Litecoin (LTC/USD) forecast and analysis on February 15, 2019
Cryptocurrency Litecoin (LTC/USD) is trading at 41.28. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Litecoin (LTC/USD) forecast and analysis on February 15, 2019
As part of the Litecoin course forecast, a test level of 39.80 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 47.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 39.60.
Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below the area of 37.20. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on February 15, 2019 implies a test level of 39.80. Further, growth is expected to continue to the area above the level of 47.20. The conservative area for buying Litecoin is located area of 39.60. The cancellation of the growth option of cryptocurrency will be the breakdown of the level of 37.20. In this case, we should expect the continuation of the fall.