Litecoin (LTC/USD) Market Forcefully Pushes Northward from $200
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Litecoin Price Prediction – November 13
In the recent past trading operations, the LTC/USD price hovers around the upper range line at $200. But, currently, the crypto-economic market forcefully pushes northward from the value line to trade around $248 at a smaller negative percentage rate of 1.10.
LTC/USD Market
Key Levels:
Resistance levels: $275, $300, $325
Support levels: $200, $175, $150
LTC/USD – Daily Chart
The LTC/USD daily chart reveals that the crypto-economic market forcefully pushes northward from the upper range level of trading, surpassing the previous higher point achieved during the September 5th sessions. The November 10th Candlestick formed to briefly break to the upside past a higher value at $300 also reversed slightly, downside against $250, now leading the market to converge around those market trading lines presently. The 14-day SMA indicator has briefly moved past the upper-range line above the 50-day SMA indicator. The Stochastic Oscillators have crossed the lines southbound briefly against the range 80 from the overbought region. That suggests that price now faces a selling force.
Will price sustain trading above the upper range line as the market forcefully pushes northward from $200?
The LTC/USD tends to sustain trading above the upper range line if the trading activity doesn’t reverse violently against the value line mentioned earlier, as the market forcefully pushes northward from the $200 level. There is an indication that the market may resort to a retracement exercise that eventually leads the price to muster energies between $225 and $200 levels afterward. An aggressive breakdown at the lower value line could bring back the operations in its recent past full-fledged range-bound conditions.
On the downside of the technical analysis, the LTC/USD market bears have had upper hands in controlling the market as there have been some price rejections around higher trading zones presently. Efforts needed to be intensified by bears, pushing the price down below $250 to affirm a return of downward pressure in the market. Therefore, long position takers are to suspend their re-launching for a while.
LTC/BTC Price Analysis
In comparison, the pushing forces of Litecoin against Bitcoin have unprecedentedly emerged, causing the base crypto to skyrocket through some resistance levels. The sudden pushing force is almost equal to that of the previous high resistance line achieved on September 5th sessions. The 14-day SMA trend line now bends northward close beneath the 50-day SMA trend line. The Stochastic Oscillators in the overbought region, slightly crossing the lines southbound near over the range of 80. That indicates that the base crypto may soon relax in its pushing capacity against the flagship counter crypto.
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