Litecoin technical analysis: LTC/USD paralyzed within a $10 range
|- Litecoin price must break above the 50-day SMA in order to focus on levels above $70.
- The path of resistance is to the downside; the 50 SMA on the hourly chart is in line to offer the much-need support.
Spot rate: $54.57
Relative change: -0.4196
Percentage change: -0.76%
Trend: Bearish
Volatility: High
LTC/USD daily chart
Litecoin movement have been limited within a narrow range between $50 and $60 for almost three weeks.
The upside is also limited by a four-months long descending trendline.
LTC/USD 240-minutes chart
Litecoin retreats after hitting a dead-end at $55 after the recovery staged on Thursday.
The Bollinger Band four-hour middle curve currently offers support amid shrinking volatility.
LTC/USD 60’ chart
Litecoin breaks below a short-term ascending trendline as the bears grab back the joystick.
The dropping RSI suggests that the sellers’ grip on the price is growing stronger.
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