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Litecoin Price Analysis: LTC/USD bears take control for the sixth consecutive day

  • From Saturday, March 7 to Wednesday, March 11, LTC/USD fell from $63.47 to $48.69.
  • The RSI indicator has dipped into the oversold territory.
Litecoin Price Analysis: LTC/USD bears take control for the sixth consecutive day
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD daily chart

LTC/USD daily chart

LTC/USD is trending in a downwards channel formation in the daily chart and has had six consecutive bearish sessions from Saturday, March 7 to this Thursday. From March 7 to Wednesday, March 11, LTC/USD fell from $63.47 to $48.69. The price has fallen further to $46.20 in the early hours of Thursday. The RSI indicator has dipped into the oversold territory indicating upcoming bullish correction. The MACD shows sustained bearish momentum, while the Elliott Oscillator has had five straight red sessions.
 

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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