Litecoin LTC price analysis 10 May 2019; bears strong for LTC

The crypto space has been going through good time and almost all the coins are in green. The current market capitalization of the space is one hundred and ninety-one billion dollars ($191 billion).

This market capitalization is possible because of Bitcoin’s help as it has picked up the pace and is currently being traded near the six thousand dollars ($6,000)price mark.

Since Bitcoin is the gold of crypto space it’s opposite the silver coin, also known as Litecoin is not doing so good.

Litecoin was expected to pick up pace like bitcoin too but it demonstrated no such performance. Bitcoin outperformed litecoin and the latter is currently being traded near eighty dollars ($80).

Right now, Litecoin has the market capitalization of almost five billion dollars ($4.68 billion) and is trading at almost seventy-five dollars ($75.91).

Litecoin is standing fifth position relative to the other coin on the charts. Litecoin has the 24- hour trading volume of three billion dollars ($3.12 billion) and it ascended to over three percent (2.79%) over the course of the past 24-hours.

Litecoin LTC price analysis 10 May 2019; bears strong for LTC 2Litecoin LTC price chart created with Trading View

On the 1-day LTC chart, an upwards trend between the range of thirty-two dollars and sixty-six dollars ($32.86 to $66.76) was registered.

This upward trend continued to hit the range of sixty-six dollars to seventy-three dollars ($66.76 – $73.80).

Alongside upwards trends, some downwards trends were also registered including one ranging between fifty-five dollars and thirty-three dollars ($55.96 to $33.80).

The resistance levels were at ninety-two dollars ($92.30) and the support levels are at forty-five and thirty-two dollars ($45.04 & $32.62).

The moving average convergence divergence indicator turned upwards and crossed above the signal line.

The technical indicator, Klinger Oscillator showed that the reading line was above the signal line. This indicates a bullish price pattern for Litecoin.

Despite demonstrating bullish patterns overall Litecoin still failed to make significant gains from this trend.

Advertisements