Litecoin Chart Analysis: LTC stuck between 21 and 50-DMAs, lacks clear directional bias


  • Battle lines well-defined for the LTC/USD traders on the daily chart.
  • A potential Doji candlestick charted with neutral RSI.
  • Litecoin awaits a strong catalyst to determine the next direction.

Following Friday’s solid rebound from multi-day lows of $123, Litecoin (LTC/USD) lacks a follow-through bias, as the bulls and bears get into a tug-of-war this Saturday.

At the press time, the digital asset trades little changed on the day near the $137 region, unable to find a clear direction while awaiting a fresh impetus to break through the recent trading range.

LTC/USD: Range play likely to extend

LTC/USD: Daily chart

LTC/USD has formed a potential Doji candlestick on the daily timeframe after Friday’s bounce, suggesting that the price in search of a clear direction for its next move.

The price wavers between the 21-day moving average (DMA) and 50-DMA, with the 14-day Relative Strength Index trading flat at the midline. The technical picture, therefore, points to indecision.

Only a convincing break above the 21-DMA barrier at $152 could revive the recovery momentum from eleven-day lows.

Meanwhile, the sellers need acceptance below the 50-DMA at $124 to resume this week’s downward spiral from near $166 levels.

Should the selling pressure intensify, a breach of the $100 level becomes inevitable. The next significant support is aligned at the upward-sloping 100-DMA at $94.87.

LTC/USD: Additional levels to consider

LTC/USD

Overview
Today last price 136.8280
Today Daily Change -1.0957
Today Daily Change % -0.79
Today daily open 137.9235
 
Trends
Daily SMA20 152.9622
Daily SMA50 122.8959
Daily SMA100 93.9981
Daily SMA200 72.5877
 
Levels
Previous Daily High 141.955
Previous Daily Low 122.8396
Previous Weekly High 166.1888
Previous Weekly Low 122.8396
Previous Monthly High 139.2186
Previous Monthly Low 70.0602
Daily Fibonacci 38.2% 134.6529
Daily Fibonacci 61.8% 130.1417
Daily Pivot Point S1 126.5237
Daily Pivot Point S2 115.1239
Daily Pivot Point S3 107.4083
Daily Pivot Point R1 145.6392
Daily Pivot Point R2 153.3548
Daily Pivot Point R3 164.7546

 

 

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