Litecoin price analysis: LTC/USD drops below Bollinger Band as sellers take control of the market
|- LTC/USD as dropped from $57.55 to $56.20 so far today.
- The Elliott Oscillator has had five straight bearish sessions of increasing intensity.
Following a brief bullish respite this Wednesday, the sellers were able to take back control of the market. The price of LTC/USD has so far fallen from $57.55 to $56.20. The hourly break down shows us that the price has been trending horizontally in a range between $57.55 and $54.15 for the last two days.
LTC/USD daily chart
Today’s price session was bearish enough to fall below the 20-day Bollinger band, hinting that it is undervalued. The Moving Average Convergence/Divergence (MACD) indicator has had three straight bearish sessions, while the Elliott Oscillator has had five consecutive bearish sessions. The Relative Strength Index (RSI) indicator is trending at the edge of the oversold territory.
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