Litecoin Price Analysis: LTC/USD bears take control, price falls below $60
|- RSI indicator has dipped from the edge of the overbought zone to the neutral territory.
- The MACD indicator shows increasing bearish momentum.
LTC/USD daily chart
LTC/USD fell from $59.65 to $59 in the early hours of Thursday. Before this, LTC/USD fell below the $60-level this Wednesday as the price fell from $60.68 to $59.65. The price is sandwiched between the SMA 200 and SMA 20, with the latter being on the downside. The 20-day Bollinger Band is constricting, showing decreasing price volatility.
The signal line was about to cross over with the MACD line, indicating a reversal of bearish momentum before they diverged from each other. The RSI indicator kissed the edge of the overbought zone two days back but has since dipped down to the neutral zone. All these indicators tell us that LTC/USD’s current market sentiment is bearish.
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.