Litecoin technical analysis: LTC/USD paralyzed within a $10 range
- Litecoin price must break above the 50-day SMA in order to focus on levels above $70.
- The path of resistance is to the downside; the 50 SMA on the hourly chart is in line to offer the much-need support.
Spot rate: $54.57
Relative change: -0.4196
Percentage change: -0.76%
Trend: Bearish
Volatility: High
LTC/USD daily chart
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Litecoin movement have been limited within a narrow range between $50 and $60 for almost three weeks.
The upside is also limited by a four-months long descending trendline.
LTC/USD 240-minutes chart
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Litecoin retreats after hitting a dead-end at $55 after the recovery staged on Thursday.
The Bollinger Band four-hour middle curve currently offers support amid shrinking volatility.
LTC/USD 60’ chart
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Litecoin breaks below a short-term ascending trendline as the bears grab back the joystick.
The dropping RSI suggests that the sellers’ grip on the price is growing stronger.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
