All the assets seemed to be recovering from yesterday’s carnage. Bitcoin [BTC], Litecoin [LTC], and even XRP were seen surging after a brief setback. Bitcoin’s fall from $40K all the way down to $30K had got investors trembling in fear. However, several in the industry went on to urge individuals to buy the dip. At the time of writing, Bitcoin was back from its detour as it was priced at $36K. While all the coins were getting back on track, the global crypto market cap seemed to be surging slower than expected.
Litecoin [LTC] Market Analysis
Litecoin was seen making good use of the latest bull run. Yet, the digital silver did not get anywhere close to its all-time high. The asset tried hard to hit $200, but it went up as high as $185.58 and had a big fall. During press time, the altcoin was trading for $144.61 with a 1.70% rise in its price over the last 24-hours. The asset’s position as the sixth-largest cryptocurrency remained intact as its market cap was noted at $9.62 billion.
Litecoin [LTC] One-Hour Price Chart On Binance
The volume in the LTC market was quite low compared to the last two days. The latest crash in the crypto market forced the altcoin below a strong resistance line at $122. The one-hour price chart of the altcoin revealed that the latest setback was nothing but a dainty hurdle as the bulls had been residing in the LTC market. The 100 daily moving average [Red] was well below the 50 daily moving average [Blue] which is considered a bullish crossover.
Litecoin [LTC] Price Chart With Key Indicators
The Bollinger Bands indicator suggested that the LTC market was in for an increase in volatility as the bands were moving wide apart after recently coming closer. The MACD indicator affirmed that this change in volatility could aid the coin’s journey to $200. The MACD line overtook the signal line, yesterday welcoming the bulls and ousting the bears.