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Litecoin Price Analysis: LTC/USD bears take control as price neared the $80-mark

  • LTC/USD fell from $77.15 to $74 this Monday.
  • The RSI indicator has dropped below the overbought zone.
Litecoin Price Analysis: LTC/USD bears take control as price neared the $80-mark
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD daily chart

LTC/USD daily chart

LTC/USD had two bearish days during which the price corrected from $77.15 to $73. The RSI dipped below the overbought zone, Elliott Oscillator has had two consecutive red sessions. The MACD indicates a reversal of bullish momentum. All these indicators show that the bears presently have full control of the market. The price has found support on the upward trending line. XRP/USD is still hovering above the red Ichimoku cloud, SMA 20, SMA 50 and SMA 200.
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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