Litecoin emerged as winners in the recent market surge

The fourth largest Cryptocurrency on CoinMarketCap, Litecoin, was trading above $60, at press time. Litecoin emerged as one of the winners in the recent market surge, and the coin has doubled in value since the beginning of the year. "Litecoin emerged as winners in the recent market surge"





At recent time, the Litecoin held a market cap of $3.67 billion and was priced at $60.50. The digital silver LTC registered a 24-hour trading volume of $1.85 billion. Litecoin exhibited growth of 1.71% against the US dollar in the past 24 hours, while a growth rate of 7.23% was recorded over the past seven days.









Coineal continued to contribute significantly to the coin’s 24-hour trading volume, providing 7.86% of the total trade volume via the LTC/BTC trading pair. Coineal was followed by DigiFinex and Coineal with 5.82% and 4.48% of the trading volume, respectively.





LTC’s one-hour chart exhibited a minor uptrend from $52.39 to $55.44, and another uptrend from $55.86 to $60.29. The minor downtrend in price from $61.40 to $59.28 can be attributed to the latest dip in the coin’s price, following a bullish recovery. The immediate resistance was at $65. The support for the LTC was found at $52.39.





Bollinger Bands indicator: The mouth of the bands depicted a volatile future for the Litecoin’s price in the short term.





Awesome Oscillator indicator: The closing bars of the indicator were red, and indicated bearish price momentum for Litecoin.





Chaikin Money Flow: The CMF continued treading above the zero-line pattern, indicating that the money was flowing into the coin market. Hence, a bullish price pattern was predicted for the Litecoin LTC.





The candlestick price arrangement on the one-day chart of LTC showed an uptrend from $32.84 to $45.63, and a major downtrend from $83.85 to $33.98. Immediate resistance for the Litecoin was marked at $88.55, while the immediate support firmly stood at $28.84.





Parabolic SAR: The dotted price markers were below the candlesticks, suggesting that the coin was following a bullish trail.





Klinger Oscillator: The reading line was below the signal line, posting a bearish pattern for the crypto coin.





MACD: The MACD price indicator suggested a potential bearish crossover.



