Litecoin [LTC] Price Analysis: Coin anticipates bullish breakout as it continues to tread below $60

On 15 March, the price of the fourth largest crypto asset opened at $56.36, and gradually rose to $57.12, by press time. LTC held a market cap of $3.47 billion, with a 24-hour trading volume of $1.62 billion. The silver token recorded a slight positive change of 1.21% against the US Dollar.

Coineal contributed to 8.94% of the coin’s 24-hour trading volume via the trading pair LTC/BTC.

1-hour

Source: TradingView

LTC’s one-hour chart showed an uptrend from $45.28 to $52.35, and a minor downtrend from $56.76 to $54.75. The resistance for the coin remained at $58.40, while the support for the coin stood at $45.35.

Parabolic SAR: The dotted markers were aligned below the price candles, suggesting a bullish phase for the coin.

MACD: The MACD line continued to tread above the signal line and depicted a bullish market for the coin.

Klinger Oscillator: The reading line was below the signal line and predicted a bearish course for Litecoin.

1-day

Source: TradingView

The candlesticks on the LTC chart exhibited an uptrend from $32.82 to $45.68, and a significant downtrend from $56.01 to $33.96. The immediate resistance for the silver crypto asset was noted at $67.73, while the second resistance was at $89.15. Significant support for the coin was found at $29.80.

Bollinger Bands: The BB indicators showed the bands diverging and suggested a possible price breakout.

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

Chaikin Money Flow: The CMF was above the zero-line and suggested that money was flowing into the coin market. Therefore, a bullish price pattern was pictured for LTC.

Conclusion

The short-term indicators sided with the bull, while the long-term chart was unclear in its prediction.

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