Bitcoin had once again walked beyond $23K. Except for this time, it did not take many on its journey to the top. Litecoin [LTC] and Monero [XMR] were seen grazing with the bulls as both these assets were surging while almost all the other assets were descending. XRP had everyone even the SEC looking at the asset after it slumped by 10%. The crypto community was gearing up for a bigger shock as the altcoin was falling by 30%, at the time of writing.
Litecoin was living up to its name of being the lighter version of Bitcoin as it was in sync with the king coin. The asset was seen rising by almost 6% during press time. Litecoin was priced at $109.89 while its market cap stood at $7.13 billion. The digital silver had recently taken over Bitcoin Cash as the fifth-largest cryptocurrency.
Litecoin [LTC] One Hour Price Chart
The latest short-lived bull run had definitely helped LTC push its boundaries. After a long stay below $100, the altcoin found a way to rise all the way up to $125. At the time of writing, the volume of LTC in its one-hour price chart was not too high or too low. The daily moving average indicator seemed to be delivering the existing emotion in the LTC market. The 50 daily moving average [Blue] was above the 100 daily moving average [Yellow] which suggested the presence of the bulls.
Litecoin [LTC] Price Chart With Key Indicators
The indicators used in the short term price chart of Litecoin gave out a sense of mixed sentiments. While digital silver was enjoying its stay in the bullish realm, certain indicators gave the asset a glimpse of its fate. The Parabolic SAR indicator was done blocking any downward breakouts, the indicator laid out dotted lines above the candlesticks and shielded any possible chances of an upward breakout. The Relative Strength Index indicator suggested that there was neutrality in the market in terms of buying and selling activity. The Awesome Oscillator was following suit of Parabolic SAR as it formed red closing bars, which insinuated the presence of bears.