Litecoin (LTC/USD) Almost Completes Its Downward Correctional Movement
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Litecoin Price Prediction – April 20
It now appears that the LTC/USD market heading towards a first expected final lowest downward correctional value of around $220 support level.
LTC/USD Market
Key Levels:
Resistance levels: $280, $300, $320
Support levels: $220, $200, $180
LTC/USD – Daily Chart
There has been a successive featuring of bearish reversal candlesticks down to touch the support level at $240. The bullish trend-line is already drawn northwardly, along with the 14-day SMA trading indicator to also touch the support line from below. The 50-day SMA trend-line is situated underneath them very close to the $200 level. The Stochastic Oscillators are pointing towards the south freshly into the oversold region to suggest an ongoing dumping move in the LTC/USD trading operations.
Will the LTC/USD current downward correctional move metamorphose into a full bearish trend?
As regards the bearish technical trading approach of this crypto-market, presently, a formation of variant falling candlesticks has featured to correct some upward moves to the lower tune of the $240 support line. And, an indication still has it that the falling pressure is yet to be over. That portends that bears still have some degree to make use of the situation. But, they have to strictly adhere to guided precautionary trading principles.
As regards the bearish technical trading approach of this crypto-market, presently, a formation of variant falling candlesticks has featured to correct some upward moves to the lower tune of the $240 support line. And, an indication still has it that the falling pressure is yet to be over. That portends that bears still have some degree to make use of the situation. But, they have to strictly adhere to guided precautionary trading principles.
LTC/BTC Price Analysis
In comparison, BTC’s value has seen been struggling to correct the market-worth of LTC in about a couple of days’ sessions. Litecoin, the base crypto yet possesses the domineering outlook as regards the pairing trend between it and the counter crypto; Bitcoin. The 14-day SMA trend-line is seen over the 50-day SMA indicator slightly trying to make a curve towards the north-east direction to possibly suggest the coming of pressure from the top. The Stochastic Oscillators have crossed the hairs to point towards the south nearing range 40. That adds more to the forthcoming falling move which signifies that counter crypto is in a high preparatory mode to regain its lost momentum against the base trading instrument in the near time.
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