LItecoin Price Analysis: LTC/USD bears fail to break below strong support at the $60-mark


  • LTC/USD daily chart was able to re-enter the 20-day Bollinger Band.
  • The MACD and Elliott Oscillator show increasing bearish momentum.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD bulls were able to bounce up from the $60 support level to go up to $60.30. The price is trending above SMA 200 and below the SMA 20 and SMA 50 curves. XRP/USD re-entered the 20-day Bollinger Band, indicating that the asset is no longer underpriced. Both the MACD and Elliott Oscillator show increasing bearish market sentiment as the price consolidates in a flag formation. The bulls must continue to defend the $60-line and the SMA 200 curve to ensure that the price doesn’t fall anymore.
 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Market stays strong despite yesterday's sell-off

Yesterday at 14:45 GMT, the BTC/USD pair plummeted 7.96% in just 5 minutes, dragging with it the rest of the crypto board and causing a juicy change of hands between the fearful and the convinced.

More Bitcoin News

XRP/USD is back inside the previous range, bulls defend $0.2000

Ripple (XRP) is changing hands at $0.2030. The coin has partially recovered from Tuesday’s major sell-off to $0.1970; however, the further upside seems to be limited. Ripple retreated to the fourth place in the global cryptocurrency market rating and gave way to Tether (USDT). 

More Ripple News

LTC/USD bulls lie in wait on approach to $45.00

Litecoin (LTC) has been trading in a tight range since the start of the day, consolidation large moves of the previous days. LTC/USD hit the low of $44.52 on Tuesday amid major sell-off on the cryptocurrency market and managed to recover to $46.20.

More Litecoin News

ADA/USD free-falls 1% in minutes despite positive sentiments

Cardano outperformed most cryptocurrencies in the market last week. In fact, ADA more than doubled its value in less than a week. On the upside, ADA/USD has traded new yearly highs at ...

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP