Litecoin (LTC/USD) Makes a Notable Rallying Motion
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Litecoin Price Prediction – May 25
There has been a heightened-effort recovery motion in the market worth of LTC/USD since about two days’ sessions back. Presently, the market trades around the value of $186 at an increase of about 0.76%.
LTC/USD Market
Key Levels:
Resistance levels: $200, $250, $300
Support levels: $150, $130, $110
LTC/USD – Daily Chart
There has been an emergence of a bullish candlestick from the deep down-trading zone below the SMAs. The candlestick that occurred during yesterday’s operation formed towards the level of $200. The bearish trend-line yet drew downward across the SMA trend lines to show the in-depth level at which Litecoin has been able to rally against the pressures inflicted on it by the US Dollar. The 14-day SMA is briefly bent to the south over the 50-day SMA indicator. The Stochastic Oscillators are now attempting to open the hairs to the north to signal an upswing return back in the crypto market.
The LTC/USD now rebounds, will it sustain?
With the form of yesterday’s Japanese bullish candlestick in the LTC/USD market operation, it is most likely that the crypto has set on a stronger note to indicate a sustainable rallying motion. The market now has to continue to build upon the $150 support level to push past some of the resistant lines ahead of the new promising swing highs that are now settling in, in the market.
On the contrary to the upside, an upswing that is made primarily to retest any of the resistance points between the levels of $200 and $250 may lead to creating another round of sell entry for bears to come in. However, a less-impulsive price motion could also take up the trade’s center stage while both the market movers relax their pushing efforts at almost the same time. With that said, the current trading situation could a better chance for investors to consider joining.
LTC/BTC Price Analysis
Over a couple of days’ sessions, it has been depicted on the LTC/BTC price chart that the base instrument drastically lost major values as compared with the chief trading counter tool. But, Litecoin, during yesterday’s sessions embarked on a rallying motion against Bitcoin. In addition to that happenings, the base crypto’s price now trades around the 50-day SMA trend-line as the 14-day SMA indicator is placed above it. The Stochastic Oscillators are now slightly opening the hairs towards the north from the oversold region. That suggests that the base instrument is getting set strong on a recovery mood as paired with the counter trading tool.
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