- LTC has shown a lack of returns by 2.92% on Wednesday morning.
- The coin has the days range 171.56-175.62.
- The coin has shown a high of 181.02 in the last 24 hours and is presently running at 174.49.
LTC was launched in 2011 and is used to transfer funds between businesses or individuals and it is one of the largest cryptocurrencies. With the belief of holders the coin was once rallied to 412.96. This is more than twice the price of today.
The coins for Wednesday have been described on charts below 1 and 2 and the charts are maintained on the basis of SMA’s-20, 50 and 200 with respect to RSI.
RSI level is at 41 for the last 4 hours suggesting SELL.
Even the SMA-20, SMA-50 and SMA-200 are telling the same at this moment of time. Well there were possibilities of buying the coin from 18 to 24 May and the critical average price was 140 which could have provided profits as on 27 May the coin had hit the high of 199. Similarly on 9 of this month it was a great time to long the coin with the price at the level of 160 and as mentioned above the last 24 hours high was 181.02(mentioned above), the return has been seen of 11% in the last one week.
The SMA-20 has been running over SMA-50 and therefore it is not a great time to buy the coin as there may be some more profits coming to the holders in the coming time.
LTC has the trading volume of 2,272,575,552 and price is down by 2.76% in the last 24 hours.
Chart-1
The chart above shows the SMA’s movement in relation with the RSI. SMA-20 is trailing at the critical level of 173.84 and is expected to go higher in the next few days.
Chart-2
The above chart is telling the time ahead for LTC and the Doji candles marked at various levels show the price movement would be going up gradually.
Conclusion: The coin has been showing serious selling right now and would probably show the same for a few more days(3-4 days). This is because SMA-20 also has been trailing above the other two and the price is expected to hit the 184 level and then fall.
Technical Indicators:
Pivot: 173.36
R-1: 174.49
R-2: 175.32
S-1: 172.53
S-2: 171.4
(Note-The unit is USD)