The market operation of LTC/USD presently maintains a position close to the point of $150. Price trades around the level of $144 at a positive increased rate of about 2.24 percent as of writing.
Maintains Position Close to $150: LTC Market
Resistance levels: $170, $220, $270
Support levels: $120, $110, $100
LTC/USD – Daily Chart
The LTC/USD daily chart depicts that the crypto’s valuation maintains a position close to the level of $150. The bearish trend-line drew downward to conjoin with the smaller SMA at a very last tail end. The 50-day SMA indicator is over the 14-day SMA trend-line.
All the indicators’ placement showcases that the crypto economy is wallowing under a downforce. The Stochastic Oscillators are in the overbought region, trying to cross the lines northbound further. That signals that the current market’s journey to the upside is in a less active motion.
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Will the LTC/USD market increase in valuation as price maintains a position close to $150??
It is indicated on the chart that the LTC/USD market may not move to the upside as the price currently maintains a position around the level of $150. If the crypto market fails to suddenly push past both the 14-day SMA and the bearish trend-line met, there may be a continuity of maintaining the position in a range-bound trading format in the next trading session.
The current trading zone may worthy of investing in should an investor want to.
On the downside, the staying of the Stochastic Oscillators in the overbought region has suggested that bears could be on the lookout as to when there will be a reversal in the present trading level of the market before a sell order could decently execute. The market level at $150 appears to constitute a barrier more in the crypto trading activities. But, a forceful breakout may potentially metamorphose into a return of bullish trend.
LTC/BTC Price Analysis
Comparing the trending outlook of Litecoin with Bitcoin, the base crypto appears struggling for a recovery pairing with the flagship counter crypto. The 50-day SMA indicator is over the 14-day SMA trend-line with a small space separating them. The Stochastic Oscillators are in the overbought region, seemingly attempting to cross the lines southbound. That signifies that LTC may lose more trending capabilities to BTC soon.
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Last Saturday, the Bitcoin (BTC) price recovered within the channel, and on Sunday, buyers tried to test the resistance of $36,000. However, the growth was not supported by large volumes, and the pair could not gain a foothold in the area of $36,000.