Litecoin Bulls are Pushing for Recovery – April 17
The Present trading situation has it that Litecoin bulls are pushing for recovery against the US Dollar at the high and the low of $115 and $112 value points. The crypto-economic market shows a slight negative percentage trading outlook, giving a warning signal contrary to getting more ups.
Bulls are Pushing for Recovery: LTC Trade
Key Levels:
Resistance levels: $125, $135, $145
Support levels: $105, $100, $95
LTC/USD – Daily Chart
The daily chart exhibits the LTC/USD market bulls are pushing for recovery. Price is currently facing a resistant trading moment around the bearish trend line and the smaller-trading indicator’s trend line. The 14-day SMA is underneath the 50-day SMA indicator. The critical support baseline remains drawn at $100. The Stochastic Oscillators have slantingly bent northbound briefly past the range of 40. And they are yet pointing toward the north direction, denoting that relatively upward pressure is going on.
As bulls are pushing for recovery, Will the LTC/USD market bargain for more ups beyond the $125 resistance?
The LTC/USD market currently faces tougher-time trading past a resistance spot around $115 as a smaller bearish candlestick seems to be in the making around the 14-day SMA trend line. It could be that a necessary pit stop is occurring around the value-line mentioned earlier to allow more upward-running motions to take place from the point after a while.
On the downside of the technical analysis, the LTC/USD market short-position takers have not had a better chance to re-launch sell orders since the base trading instrument embarked upon the recovery-moving mode. It would be a technically trading ideal that bears hold on to their decisions of exerting a new order until a definite pattern suggested an overbought from the reading of the Stochastic Oscillators’ angle. And that may come to play in the next fewer couple of days.
LTC/BTC Price Analysis
In comparison, Litecoin has been striving to make efforts against Bitcoin, as revealed on the price analysis chart. The cryptocurrency pair market shows bulls are pushing for recovery at the expense of poor trending ability exercised by the counter trading crypto. However, the trade trend outlook has still been bearish to some extent. The 14-day SMA is underneath the 50-day SMA. The Stochastic Oscillators are in the overbought region, seemingly attempting to close their lines within it. Going by that technical reading situation, the base crypto may soon lose energy to the counter trading instrument.
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