Litecoin technical analysis: LTC/USD went down from $75.65 to $75.15 this Saturday
|- LTC/USD has found resistance on the downward trending line.
- The hourly LTC/USD price is currently trending horizontally.
LTC/USD daily chart
Following a bullish Friday, LTC/USD managed to have a bearish start to Saturday. This Friday, the price of LTC/USD went up from $73.50 to $75.65. Litecoin has gone down to 75.15 so far this Saturday and is facing resistance from the downward trending line. The price is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) indicator shows a reversal of market momentum from bearish to bullish.
LTC/USD 4-hour chart
The 4-hour LTC/USD price is consolidating in a flag formation. The price is trending above the SMA 50 and SMA 20 curves and is below the SMA 200 curve. The 20-day Bollinger jaw is widening a little bit, which hints at increasing market volatility. The Elliott oscillator has had four straight bullish sessions.
LTC/USD hourly chart
The hourly LTC/USD is trending horizontally around the $75.25 resistance line. The price has spiked above the green Ichimoku cloud. The relative strength index (RSI) indicator was trending right next to the overbought zone and then dipped down to 61.
Key Levels
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.