On Tuesday, the cryptocurrency market decided to swerve into the bull’s path taking the price along with it. Altcoins ruled the roost after a much-needed break from the bear that affected the entire ecosystem’s market cap. Charlie Lee founded-Litecoin [LTC] became one of the biggest gainers of the week after a new round of investments from users.
At the time of writing, the Bitcoin Silver aka LTC was growing by 4.2 percent on the back of a strong week. LTC was trading for $188.4 on Tuesday while holding a market cap of $13.004 billion. The daily trading volume spiked to $2.8 billion as other altcoins tried to emulate its performance. When LTC hit its all-time high this May, the community was confident of upcoming developments.
Litecoin 1 hour:
As Litecoin’s immediate support remained near the $160 mark, the green candles continued their strong push. The graph showed signs of recovery after a low bearing September.
Relative Strength Index: Litecoin’s RSI climbed closer to the overbought zone, showing an increase in the number of HODLers.
Chaikin Money Flow: The capital coming into the LTC market shot up as prices settled. Litecoin investors reveled in the latest hike as capitulation was left in the dust.
MACD indicator: Litecoin’s bearish momentum at the start of October caused the signal line to touch the MACD line. The resurgence was enough to push the cryptocurrency over to the bullish side.
Litecoin 1 day:
Litecoin’s long-term performance was indicative of the market’s fluctuations, showing multiple crests and troughs. The long-term support has fallen to $106.4, a far cry from its earlier holds.
Relative Strength Index: Just like in the hourly timeframe, LTC’s graph sporadically moved in the upward direction.
Chaikin Money Flow: Getting capital intensive was a struggle for LTC but the latest marker was a step in the right direction.
MACD: The signal line and the MACD line moved upwards after converging during the past week. Even the MACD histogram ticked green for a sustained period of time.