Litecoin Technical Analysis: LTC/USD undecisive as where to go next
- LTC/USD is not seeing a lot of price action today and had a pretty indecisive day on June 17 as well.
- Litecoin is trading at $44 at the time of writing.
The seventh-largest cryptocurrency by market capitalization is slowing down significantly over the past three days. Trading at $44 currently, bulls are far from the daily 12-EMA at $44.63. LTC got rejected yesterday on June 17 from both the daily 12-EMA and the 26-EMA.
LTC/USD daily chart
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Litecoin is currently in a downtrend and will need to break and close above the daily 12-EMA at $44.63 and the 26-EMA at $44.92. Both EMAs have crossed bearishly and the RSI is close to oversold again. On June 15, Litecoin formed a decent bullish reversal candlestick but failed to get any continuation.
For support, bulls are looking at $43, the low of June 17, $41.75, the low of June 15, and $41.45. Besides the daily EMAs, there is an established resistance level at $47.17.
LTC/USD technical levels
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
