- Litecoin exhibited negative long-term indicators, with a “death cross” MA50 is the MA50 below MA200.
- Indicators like the Fear & Greed Index and RSI indicated a bullish turn.
Litecoin [LTC] The market has been consistently displaying bearish signs over the last month as if something was blocking bulls’ return.
According to CPI statistics from the United States, at the time of publication, altcoins have increased by 2% within the past 24 hours. Can the bulls take over?
The LTC/USDT chart shows the 50-day moving average (MA50 — blue line) recently crossing below the 200-day moving average (MA200 — red line), a classic bearish signal known as the “death cross.”
The long-term trend has now turned negative. Nevertheless, the exponential moving-average (green line), which fluctuates over these levels, suggests some level of short-term volatilty.
At the time of publication, the RSI stood at 61.78. This was not in overbought or oversold territory.
It was clear that the market, while not under extreme buying or selling pressure, was leaning slightly towards a bullish outlook in the near term.
Investor confidence has likely been impacted by the consistent bearish signals of the last month. Bulls would need a massive catalyst, or an overall market recovery to take control.
Santiment
A notable increase in Daily Active addresses was observed. This trend peaked recently, along with an upward shift of prices. Also, social volume and dominance are increasing.
Litecoin’s Fear and Greed Index, which sat comfortably at a level of 68.4, also displayed positive signs. “Greed” At press time, zone had a score 68%.
This means that both traders and investors were in a phase of accumulation at the moment this article was written, which is usually associated with a rally.
Source: CFGI
LTC, on the other hand, was still under the control of bears in the derivatives markets. Trading volume is down despite an increase in open interest.
Coinglass
Here’s a list of realistic and not-so-realistic images. LTC’s market cap in BTC terms
Overall, the long/short ratio also remained bearish. However, traders are still on. Binance [BNB] OKX is still bullish.
While there wasn’t a lot of market activity for LTC in general, the participants were slightly more bullish.
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Source: ambcrypto.com
