Most of the top cryptocurrencies went on a weekend surge, with Litecoin being one of the major contributors to the bull run. The fourth largest cryptocurrency by market cap, Litecoin [LTC], breached the much-anticipated $60 resistance mark.
On 18 March, LTC opened at a value of $61.52, and rallied to $62.77, before falling to $62.77, at press time. The silver crypto coin held a market cap of 3.78 billion, while the 24-hour trading volume of the crypto asset was $1.69 billion. Over the past seven days, LTC exhibited a significant growth of over 9.22% against the US Dollar.
Coineal continued to contribute 9.63% of the coin’s 24-hour trading volume, via the trading pair LTC/BTC.
LTC’s one-hour chart showed an uptrend from $55.88 to $60.27 after the recent surge. The chart depicted a minor downtrend from $56.73 to $54.78. The coin breached the previously marked resistances, suggesting another bull run in the offing. The support for the coin was found at $54.87 and $52.35.
Bollinger Bands: After trading at around $60, the bands hinted slight expansion, indicating a possible volatility in the coin’s price.
Awesome Oscillator: The closing bars of the indicator were green and predicted a bearish price momentum for the coin.
Chaikin Money Flow: The CMF was below the zero-line and suggested that money was flowing out of the coin market. A bearish price trend was thus predicted for the silver digital asset.
The one-day chart for Litecoin exhibited an uptrend from $32.93 to $45.55, and a downtrend from $55.67 to $33.82. Immediate resistance for the crypto asset was found at $77.71, and support firmly stood at $30.55.
Parabolic SAR: The dotted markers were aligned below the price candles, depicting a bullish course for the coin.
Klinger Oscillator: The KO after undergoing a bullish crossover exhibited a conjoined movement, with the reading line above the signal line.
MACD: Post a bullish crossover, the MACD line continued to tread above the signal line.
The short-term indicators gave mixed projections, while also hinting at a potential price breakout. LTC’s long-term indicators, however, sided with the bull.
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