Litecoin Trade Strives, Making Recourses– February 21
There has been a sign to relatively end the recent downward forces in the LTC/USD trade operations as the crypto-economic trade strives for recovery. The trading outlook, as of writing, has witnessed high and low value-lines of $114 and $110, keeping a positive percentage of 1.78.
Trade Strives, Making Recourses: LTC Trade
Key Levels:
Resistance levels: $125, $135, $145
Support levels:$100,$90, $80
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the economic trade strives for recovery at a lower trading zone closer to the $100 support level. The 14-day SMA indicator is below the 50-day SMA indicator. The bearish trend line drew between the SMAs to touch the points showcasing the downward path. The Stochastic Oscillators are in the oversold region with their lines closed within.
Can there be a further increase in the level of LTC/USD market upsurges as the crypto trade strives for recovery?
There can be furtherance in the LTC/USD market valuation as the crypto trade strives for recovery. The horizontal line drawn at the $100 support level is to create an insight of getting to know when there’ll be time for the price to make an upswing. The market has seemingly not been over from making a reversal purposely to retest a lower support spot around the value-line afterward.
On the downside of the technical analysis, the LTC/USD market short-position takers currently have less strength to push the crypto’s price even if they would have to hold in a consolidation moving mode. Therefore, as of the present, exertion of further sell orders has to suspend for a while. Investors may as well begin to cultivate the idea of buying into the dips of this crypto economy.
LTC/BTC Price Analysis
In comparison, Litecoin has remained relatively dormant in its pushing efforts against Bitcoin. Presently, the cryptocurrency pair trade strives for recovery. The 50-day SMA indicator is above the 14-day SMA indicator. The bearish channels drew intently to show that the crypto-pair market still features under a declining outlook setting. The Stochastic Oscillators are in the oversold region with their lines clogged to relatively signify the possibility of the base crypto, holding more lower for a period against its flagship counter crypto.
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