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Litecoin [LTC] could be eyeing a trend reversal; LTC to $200?

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Litecoin [LTC] has always been hoarded as a lite version of Bitcoin [BTC]. With Bitcoin being digital gold, Litecoin has been regarded as digital silver over the years. However, LTC’s stay in the top ten was cut short by several coins that had entered the crypto-verse only recently. The disparity between LTC and BTC or even Ethereum [ETH] was high, both, in terms of market cap as well as price. Yet, the altcoin managed to secure notable gains during the recent crypto rally.

Just a month ago, LTC managed to push itself onto an all-time high of $412. Similar to every other coin, the asset’s gains were robbed by the bear pushing it down to $168.55, during the time of writing. The last 24-hours didn’t do the coin any good as it was seen enduring a 5.23% daily dip.

Additionally, the market cap of LTC was at $11.36 billion, at press time. LTC was seen taking over the 12th rank, not too far away from Bitcoin Cash [BCH].

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Colored in red, the crypto-verse was seen losing out on all the gains acquired over the last couple of days. Bitcoin, at the time of writing, had slumped to $38K.

Litecoin [LTC] one-hour price chart on Binance

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The short-term price chart of LTC was rather negative. The Parabolic SAR indicator did not prolong its stay in the bullish arena. The indicator laid out a dotted line over the candlesticks blocking any imminent uptrends. The MACD line sunk below the signal line further insinuating a bearish crossover.

Complimenting the ongoing trend, the Money Flow Index indicator revealed that the LTC market was exhibiting a sellers’ sentiment.

Litecoin [LTC] one-day price chart on Binance

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Unlike its short-term chart, LTC’s one-day price chart noted the invasion of bulls. The Awesome Oscillator indicator laid out green closing bars pointing out a bullish momentum. Following this trend was the Klinger Oscillator that formed a bullish crossover. The Relative Strength Index, noted that LTC was in the sellers’ zone.

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