Rajarshi Mitra
Independent Analyst
- LTC/USD has recovered to $76.55 following Wednesday’s plunge in price.
- Moving average convergence/divergence (MACD) shows increasing bearish momentum.
LTC/USD daily chart
-637014334507771709.png)
Like the rest of the market, LTC/USD had a heavily bearish Wednesday. Litecoin went down from $84.65 to $75.85, breaking below the 200-day simple moving average (SMA 200) curve in the process. So far, the price has recovered to $76.55. The SMA 50 and SMA 20 curves are trending above the market. The moving average convergence/divergence (MACD) shows increasing bearish momentum.
LTC/USD 4-hour chart
-637014334166527779.png)
The LTC/USD 4-hour chart is currently consolidating in a flag formation. The price has broken below the 20-day Bollinger band, indicating that it is undervalued. The 20-day Bollinger jaw has widened, showing that market volatility is increasing. The Elliot oscillator shows six straight bearish sessions with increasing intensity.
LTC/USD hourly chart
-637014333829954819.png)
The hourly chart shows that currently bullish momentum is being stalled at the downward trending line. The price was trending inside the green Ichimoku cloud before it broke down. The hourly price chart is also trending below the SMA 20, SMA 50 and SMA 200 curves. The relative strength index (RSI) indicator is trending in the oversold zone and is trying to get out of it.
Key Levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?