Litecoin [LTC] Price Analysis: Coin keeps breaking resistances despite being toppled by EOS

Litecoin[LTC], the fifth largest cryptocurrency on CoinMarketCap was ousted by EOS earlier today. However, the silver coin has been breaking resistances lately with its bullish moves surpassing $45.00 resistance area. All the major coins have been in green, the winner being EOS which soared over 23%.

During the day, the price of Litecoin gained traction to move to a massive high of $49.21 that overhauled the previous set resistances. At press time, LTC rocketed up by 12.95% with a market cap of $2.92 billion. Valued at $49.20, the coin recorded a trading volume of $1.45 billion.

The pair LTC/USDT has been trading at DigiFinex with a volume of $76.42 million with a price of $48.42. With a volume of $71.39 million, the pair LTC/BTC has been circulating at Coineal for a value of $48.48, followed by LTC/USDT at OKEx with a 24-hour trading volume of $69.44 million.

1-hour

An upward trend from $43.88 to $45.51 and a downtrend from $42.34 to $41.53 has been registered in LTC’s hourly chart.

The coin has surpassed all the resistances and it is anticipated that LTC can retrace its steps back to its rise recorded in November of last year. The support for this chart is marked at $43.83.

Bollinger Bands: The expanding Bollinger Bands suggests high volatility in the price movement of the silver coin.

Awesome Oscillator: The lines turning green in the AO indicates a bullish trend for LTC.

Chaikin Money Flow: The CMF graph is well above the zero-line, suggesting good money flow into the market and hence, a bullish phase in the coin’s course.

1-day

During the one-day analysis for LTC, an uptrend from $32.91 to $43.33 and a downtrend from $56.09 to $32.82 can be seen. The immediate resistance is marked at $47.91 and the support is at $40.80.

Parabolic SAR: The dotted lines below the candles predicts a bullish phase for the coin’s valuation.

MACD indicator: The MACD line oriented above the signal line further depicts a bullish trend.

Klinger Oscillator: The KO indicates a bullish cross-over and the reading line above the signal line suggests a prolonged bullish price pattern for LTC.

Conclusion

All the indicators are in sync with the bull, suggesting that the bull’s prices are all set to move upwards, with significant volatility.