LItecoin Price Analysis: LTC/USD bears fail to break below strong support at the $60-mark
|- LTC/USD daily chart was able to re-enter the 20-day Bollinger Band.
- The MACD and Elliott Oscillator show increasing bearish momentum.
LTC/USD daily chart
LTC/USD bulls were able to bounce up from the $60 support level to go up to $60.30. The price is trending above SMA 200 and below the SMA 20 and SMA 50 curves. XRP/USD re-entered the 20-day Bollinger Band, indicating that the asset is no longer underpriced. Both the MACD and Elliott Oscillator show increasing bearish market sentiment as the price consolidates in a flag formation. The bulls must continue to defend the $60-line and the SMA 200 curve to ensure that the price doesn’t fall anymore.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.