Litecoin (LTC/USD) Market Is Getting Set for a Down
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Litecoin Price Prediction – June 28
From the technical point of view, the LTC/USD crypto market is getting set for a down as it has been over time fluctuating below the $60 resistance line. The financial book of records, as of today, has the crypto’s price trading around $56, keeping a positive percentage rate of 1.43.
LTC/USD Market
Key Levels:
Resistance levels: $60, $70, $80
Support levels: $45, $40, $35
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the crypto market is getting set for a down as there has been no tangible upward force to keep the price above the trend line of the smaller SMA. The 14-day SMA indicator is underneath the 50-day SMA indicator. The bearish trend line is along the southward path of the smaller SMA to affirm the intensity of the possible leftover downward-trending forces so far in the market. The Stochastic Oscillators are in the overbought region, crossing southbound within.
Will the LTC/USD market lose stance soon?
There have been indications suggesting buying orders need to suspend for a while as the LTC/USD market is getting set for a down. . If the assumed downward-trending force gets heightened, the last previous achieved low value will revisit. Long-position placers will need to reconsider buying all back from the dip. Like wisely, intending investors may also be alert to the development while it materializes afterward to consider joining the crypto economy.
On the downside of the technical analysis, it has been to some reasonable extent acknowledged that currently suggesting against getting reliable upward motion at present short position takers need to exert pressure around the $60 resistance to get a clear-cut resumption signal. In the meantime, the price tends to hover before losing the stance to the downside.
LTC/BTC Price Analysis
In comparison, Litecoin has managed to push against the trending pressure of Bitcoin up to a notable higher resistance zone that suggests a merely signal toward getting more sustainable higher points. In other words, the cryptocurrency pair market is getting set for a down as there has been a convergence symbol above the trading SMA trend lines. The 14-day SMA indicator has traveled northward from underneath near the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region, trying to cross southbound within to signify the possibility of the base crypto losing the stances back to the counter trading crypto soon.
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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