Litecoin [LTC] Price Analysis: Coin rallies as bulls break out to challenge resistance

The fourth-largest cryptocurrency by market cap on the CoinMarketCap, Litecoin [LTC] has exhibited a constant growth in its price trajectory since the last 24 hours.

The largest altcoin opened at a price of $41.64 and broke out to a high of $43.68, before falling to a low of $42.60. The closing price recorded for the day was $42.70.

The pair LTC/BTC led the queue in the exchanges, claiming the top-three spots as registered in the past 24 hours.

LTC/BTC traded at OKEx with a volume of $76.96 million, priced at $43.98. At DigiFinex, the pair stood at a volume of $65.08 million with a value of $43.92, followed by the pair at the exchange Coineal with a circulating volume of $61.65 million, priced at $43.92.

At the time of writing, LTC held a market cap of $2.65 billion, valued at $43.84. The volume of the silver coin being traded accounted for $1.08 billion, with a surge of 2.75%.

1-hour

An upward trend from $40.93 to $41.83 and a downward trend from $43.64 to $41.30 has been recorded on the hourly chart. The immediate resistance is marked at $43.94, close to the coin’s current value, and the support is marked at $42.99.

Bollinger Bands: The expanding BB depicts a high price fluctuation for the altcoin.

Chaikin Money Flow: The CMF graph is well above the zero-line, indicating money flow into the market and hence, a bullish market momentum.

Klinger Oscillator: The reading line treading above the signal line further suggests a bullish pattern for LTC.

1-day:

An uptrend from $23.24 to $30.60 and a downward trend from $55.91 to $39.12 has been noted for the silver altcoin. The immediate resistance marked for this time phase is at $44.37 and that of support at $40.77.

Parabolic SAR: The dotted markers are directed below the candles, and predicts a bullish price movement for the coin.

Awesome Oscillator: The lines turning red indicate a bearish pattern to the coin’s value.

MACD indicator: The MACD line above the signal line in the MACD indicator further suggests a bullish trend for LTC.

Conclusion

The indicators – CMF, KO, Parabolic SAR and MACD for LTC, all predict the coin’s price following a bullish course with a high volatility. However, the AO has sided with the bear.