Litecoin [LTC] To Encounter A Small Blip Before Its Big Breakout thumbnail

Litecoin [LTC] To Encounter A Small Blip Before Its Big Breakout

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The entire crypto market was painted green. However, Litecoin [LTC], Bitcoin Cash [BCH] as well as Polkadot [DOT] were the only ones that were making the most of the ongoing bullish trend. The overall global crypto market cap was slipping down as it was noted at $2.21 trillion. Bitcoin [BTC] was trying to climb back onto $62K, despite its dainty price change in the last 24-hours.

Litecoin [LTC], despite being one of the earliest coins in the industry was seen all the way down at the ninth position. The altcoin’s market cap was noted at $20.57 billion, which was preceded by several other coins like Dogecoin [DOGE], Polkadot [DOT], and even Cardano [ADA]. The price of the altcoin was seen moving on the right track. During the time of writing, LTC was trading for $308.81. While its all-time high remains at $375.29, the persistence of the ongoing trend could restore hope in the community. Additionally, LTC was seen bagging gains of over 12% in the last 24-hours.

Litecoin [LTC] One-Hour Price Chart On Binance

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The short-term price chart of LTC revealed that the altcoin could be enduring a small blip. The MACD line slowly subsided below the signal line further forming a bearish crossover. The Klinger Oscillator mirrored this and also went on to form a similar crossover. The Money Flow Index indicator, however, pointed out a buyers’ sentiment in the LTC market.

Litecoin [LTC] One-Day Price Chart On Binance

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The one-day price chart of LTC seemed to be promising. The Bollinger Bands were wide apart which further prompted the indicator to suggest an increase in volatility in the LTC market. The Awesome Oscillator affirmed that this surge in the volatility could be beneficial for the altcoin as the indicator went on to form green closing bars. Furthermore, the Relative Strength Index indicator inclined towards a buyers’ market as its marker was up by the overbought zone.

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