• Litecoin is at the death verge as it continues to trade in the sideways market zone.
• The coin seems in control of the bulls as they remain dominant in the market.
LTC/USD Medium-term Trend: Ranging
Key levels
• Resistance levels : $70, $80, $90
• Support levels: $20, $10, $9
The crypto is in consolidation in its medium-term outlook. The session closes yesterday on a bearish note at $44.53 in the support area.
Today’s daily candle opens with a bullish pin bar at $44.53 in the resistance area within the range.
Price is initially up at $44.93 in the resistance area within the range.
Price hovers around the two EMAs an indication more bulls presence which may result in upward price movement in the days ahead as the cryptocurrency consolidates.
LTCUSD is in consolidation and trading between $84.80 in the upper resistance area and at $24.53 in the lower support area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
LTC/USD Short-term Trend: Ranging
Litecoin short-term outlook continues in a range-bound market. $44.61 in the resistance area is the high attain during yesterday’s session as the bulls remain in control within the range.
Today’s 4-hour opening candle at $44.53 is bearish. Reactions from the bulls further move the price up to $44.91 in the resistance area.
Price is above the two EMAs and the signal of the stochastic oscillator points up at around level 51%, an indication of upward momentum within the range in the short-term.
LTCUSD is ranging and trading between $47.21 in the upper resistance area and at $37.92 in the lower support area of the range. Patience coupled with a retest is needed before a position is taken.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.