The Bitcoin market has been main the altcoins development for the longest time, however at present, some alts have been at a deciding junction. Litecoin [LTC] was one such alts at an indecisive place.
The present price of LTC was at $52.67 and it may be an attention-grabbing level for each short-position and long-position.
Litecoin 1-hour chart
The above one-hour chart recommended that the price of Litecoin has been on a downtrend because the starting of November, and has been bouncing inside a descending channel. The 50 shifting common has taken a place means above the price bars which indicated bearishness out there.
The price indicators have been indicating a push and pull among the many merchants’ within the LTC market. With Superior Oscillator being within the destructive with constructive stress from the consumers. Whereas the Relative Power Index has been near the overbought zone and has not but reached a state of equilibrium.
The Stochastic RSI has famous a crossover, which traditionally has pointed at a promoting stress merging out there and taking the value of LTC down. If the development sustained, the value of LTC may discover one other hit quickly.