Litecoin technical analysis: LTC/USD keeps trending in a narrow range between $54-$57
- LTC/USD is currently priced at $56.25.
- The daily price is currently trending in a flag formation.
LTC/USD daily chart
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The LTC/USD is currently priced at $56.25 and consolidating in a flag formation. The price is limited to a narrow range between $54-$57 for the last eight days. The 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves are trending above the chart. The Relative Strength Index (RSI) indicator is creeping right next to the oversold zone.
LTC/USD four-hour chart
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The four-hour price chart is trending above the SMA 20 and SMA 50 curves. The SMA 20 has crossed over the SMA 50 chart, which is a bullish sign. The narrowing of the 20-day Bollinger Band indicates decreasing market volatility. The Moving Average Convergence/Divergence (MACD) indicator shows sustained bullish momentum.
LTC/USD hourly chart
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The hourly chart is trending above the green Ichimoku cloud and has found resistance at the $56.40 line. The Elliot Oscillator has had a bearish session after 11 straight bullish 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.
