Litecoin recovering from the Bear Attacks

Litecoin recovering from the Bear Attacks

Litecoin has managed to sustain a steady rise in price valuation over the last week and looks set to continue its recovery from the bear attacks in January. However, Litecoin’s price has fallen by 1.47 percent over the past 24 hours, at press time."Litecoin recovering from the Bear Attacks"

Litecoin LTC is currently 5th position on the list of the world’s largest cryptocurrencies with a market cap of $2.985 billion. The LTC trade volume recorded over the past 24 hours is $1.210 billion with OKEx exchange contributing around 5.16% of the total trade. Litecoin price is currently trading for $49.29.

The one-hour Trading price chart for the Litecoin market indicates a minor downtrend extending from $50.84 to $49.17. However, the LTC market did experience a significant increase in price during the week which pushed the value from $47.10 to $50.36. The support level for both the trends remains at $51.16.

The Parabolic SAR chart markers are placed above the candlesticks, suggesting a downtrend for the coin and that the bear may retain control.

The Bollinger Bands tool indicate steady pricing as the lines do not show any form of convergence or divergence.

The Fisher Transform Litecoin price, however, indicates a bearish trend ahead, but chances are there for a cross-over as the lines approach convergence.

1-day :
Litecoin recovering from the Bear Attacks

The 1-day price trend signifies that Litecoin has made a positive bounceback since the start of January 2019. A consistent bullish pattern has been witnessed where the Litecoin price valuation has recovered most of its losses from the bear trend. The uptrend extends from $33.23 to $50.93.

The MACD price chart the signal line and the MACD line both undergoing a bullish climb.

The RSI indicates that the buying and selling pressures have evened each other out closer to the overbought zone.

The Chaikin Money Flow indicates a high in-flow of capital into the Litecoin market as the marker is above the zero lines.

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