Litecoin (LTC/USD) Market Breaches Southward to $40
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Litecoin Price Prediction – June 14
There has been a long positive decrease-trading motion in the LTC/USD price valuation as the crypto market breaches southward to the $40 line after featuring in a range-bound spot. The financial book of records shows price trading between $45 and $40 value lines at a positive percentage rate of 1.58.
LTC/USD Market
Key Levels:
Resistance levels: $60, $70, $80
Support levels: $40, $30, $20
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the market breaches southward to $40 after a long featuring of range-trading occasions at a previous lower-range point at $60. The 14-day SMA indicator is underneath the 50-day SMA indicator. The bearish channel trend lines drew southward to attest the bearish trend has returned to elongate its appearances. The Stochastic Oscillators are dipped into the oversold region, trying to close their lines around the zero range line.
Will the LTC/USD marketable start to swing upward back from the $40 soon?
Likely, the LTC/USD market may attempt to swing upward back from the $40 support level as the crypto market breaches southward toward it recently afresh. However, that may not be obtained in the near time as price may trade for a while before getting a better-energizing force to leverage while executing a buying order afterward. Investors should hold on to their portfolio without nursing the mindset of damning to a panic sell-off condition.
On the downside of the technical analysis, the current positioning of the Stochastic Oscillators in the oversold trading station suggests bears have to be cautious of launching new sell orders. Short-position takers may have to wait for the actions of price around the trend line of the smaller SMA before getting back a decent selling entry if the market will have to encounter a rejection that sellers can use for the exertion of entries.
LTC/BTC Price Analysis
In comparison, Litecoin has continually been falling in its trending ability against Bitcoin over several sessions. Yet, the situation hasn’t witnessed a difference of direction as the pairing trading crypto market breaches southward to touch a lower support-trading zone around the lower bearish trend line. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have swerved northbound from the oversold region against some high-range lines up to the 40. That shows the base crypto is striving to push against the counter-trading crypto at the moment.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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