TL; DR failure
- Litecoin price for the moment at $ 82.04 showing little internet movement compared to the opening price of the day
- price movement consolidates with upcoming bullish breakout
- The small amount of trade restricts the movement of prices
Litecoin (SLD) The price chart reveals that buyers defended the $ 70.00 level on December 11, stopping further downward movement. The larger cryptocurrency market has turned bullish right now due to the price of Bitcoin went quickly from the $ 18.00 mark to zero. The price movement of Bitcoin had a huge impression on the price of altcoins, inflicting a bullish crypto rally.
Following the bullish turnover, Litecoin The price movement has clearly recovered as the price has broken above the $ 80.00 mark as it hovers for the time being.
Litecoin price throughout one day frames
Litecoin the daily charts show a significantly bullish market from November 1 to 23. Throughout this period, the price went from $ 55.00 to over $ 90.00. Nonetheless, buyers were unable to gain a foothold in the scene, and the price observed a quick but sharp correction, bringing the price below the $ 70.00 mark.
Buyers defended the support stage, and the price made a V-shaped restore rather than going down as fast as more. Price returned to the $ 70 assistance stage sooner than the bearish momentum calmed down. Buyers were also quick to defend the amount, and price appears to be recovering to the $ 90.00 path for the time being.
Nonetheless, unlike the previous two events, the price movement is currently through resistance at $ 80.00 due to uncertainties in the broader cryptocurrency markets. While most commodities saw a sharp bullish train over the previous two days, price movement remained stagnant for that second as bullish momentum was exhausted.
The MACD indicator suggests a bullish reversal as the two EMAs begin to converge. Bollinger bands appear to be contracting, suggesting reduced price volatility in the coming days. In the meantime, the RSI remains neutral and hovers near the 50.00 threshold.
While the market momentum is bullish, the amount of trade remains relatively small. This reveals that many consumers are sitting on the sidelines speculating in the markets. Traders must anticipate Litecoin price to maneuver in a bullish configuration with a low improvement angle for the next few days and until the trade amount increases significantly it might be difficult to take a look at the price hitting the 90.00 mark $.
Litecoin price throughout the 4 hours
As we have observed inside the daily frames, the price movement goes through resistance above the $ 81.00 level with the $ 80.00 displayed as a key help. Since recovering from lows of $ 70.00, the price has not gone above $ 82.00.
Nonetheless, unlike the daily charts, the Bollinger Bands on the 4 hour frames are tight and suggest extreme volatility going forward. Likewise, the MACD has made a bullish cross and signifies bullish dominance in the markets. In the meantime, the RSI is throughout the 60.00 phase and showing bullish momentum, which nevertheless means that the price has room for a significant bullish move,
Traders must anticipate Litecoin price to consolidate above the $ 80.00 stage earlier than the price movement hits for a bullish breakout. Currently, the closest resistance is at $ 83.00 with the assist stage at $ 80.00. Further down the resistance is at $ 86.00, while the next step of assistance is at $ 76.00.