LTC/USD: Bears crawl back in the last session as bulls fail to break $52.50 resistance
|- LTC/USD bears hit back this Thursday, pulling the price down from $51.50 to $51.
- Even though the overall sentiment remains bullish, the market’s momentum has become a little sluggish.
LTC/USD bears crawled back and pulled the price down from $51.50 to $51 this Thursday. Earlier, the Bulls had breached past $47.50 resistance this Wednesday, which turned out to be an excellent day for LTC holders as its price went up by 9%, going from $47.25 to $51.50. Technical analysis shows an overall bullish sentiment, even though the momentum has become a little sluggish.
LTC/USD daily chart
Bulls broke past the $47.50 resistance before the bears crawled back this Thursday. The market has had a bullish breakout from the triangle formation, but a couple of technical indicators show that the momentum may have stalled:
- The moving average convergence/divergence (MACD) graph shows a decrease in momentum.
- The last session trended below the upper curve of the 20-day Bollinger band.
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