Litecoin technical analysis: LTC/USD bears gain a slight upper hand in the early hours of Friday
- LTC/USD has gone down from $99 to $97.75 in the early hours of Friday.
- Moving average convergence divergence (MACD) shows sustained bullish momentum despite bearish price action.
LTC/USD daily chart
LTC/USD has had a bearish start to the day after the price fell from $99 to $97.75 in the early hours of Friday. The price is trending below the 50-day simple moving average (SMA 50 curve, while it is above the SMA 20 and SMA 200 curves. The moving average convergence divergence (MACD) shows sustained bullish momentum despite bearish price action.
LTC/USD 4-hour chart
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The 4-hour price broke up from the green Ichimoku cloud before the bears dipped it back inside the red Ichimoku cloud. The price initially found support on the upward trending line, before the bears broke through it. The relative strength index (RSI) indicator shows is creeping right along the overbought zone.
LTC/USD hourly chart
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The hourly price is currently trending in the lower half of the 20-day Bollinger band and below the SMA 20 curve. The price is also trending below the SMA 200 and SMA 50 curves. The Elliot oscillator has had five straight bearish sessions.
Key Levels
Author
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.
