1-hour chart
Resistance 1: $78.71
Resistance 2: $77.04
Support 1: $73.95
Support 2: $71.96
The short term analysis of Litecoin projected a consolidation phase where the price had experienced sideways movement in the charts. The uptrend observed took the valuation from $75.52 to $78.56, followed by a price slump which stretched the valuation of $78.37 to $74.26.
The Bollinger Bands were converging in the charts which suggested a decreased volatility.
The Awesome Oscillator or AO was bearish in nature as red bars had appeared in the chart.
The Chaikin Money Flow or CMF was above the zero-line which indicated an increase in capital flow in the market.
1-day chart
Resistance 1: $141.58
Resistance 2: $123.58
Resistance 3: $101.48
Support 1: $72.49
Support 2: $40.08
Support 3: $29.75
The long term chart of Litecoin experienced a slump which saw the valuation drop from $132.92 to $95.78. However, the charts also indicated a major hike which stretched the valuation from $38.36 to $136.57.
The Parabolic SAR was bearish in the charts as the dotted markers appeared above the candlesticks.
The MACD line and the signal line were at a close proximity with indicated that the trends were neutral in the charts.
The Relative Strength Index or RSI indicator remained under the 40-line marker as the coin remained very close to the over-sold section.
Conclusion
Litecoin has been quite in the market as the short term charts and the long term charts indicated a stagnant phase.
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