Litecoin (LTC/USD) Market Slips, Finding Support at $200
November 23, 2021
Litecoin Price Prediction – November 23
It still recorded that the LTC/USD market slips, finding support at a $200 trading line. As of writing, the crypto-economic price trades around $212 at a percentage rate of about 1.46 positive. That gives a brighter rise in the expectation that the market will still potentially experience some upward pressures in no time from the value line mentioned earlier.
Resistance levels: $225, $250, $275
Support levels: $175, $150, $125
LTC/USD – Daily Chart
The LTC/USD daily chart showcases that the crypto-economic market slips, finding support at a $200 business operating level. On November 18th day session, a bearish candlestick emerged, bottoming closely to the value line to mark the recent last down-turning motions. On the following day of business activity, the 19th, a bullish candlestick surfaced to signify a return of an upward movement. But, the moves got resisted at around $225 level on the third trading time. The 50-day SMA indicator is closely underneath the value line mentioned earlier as the 14-day SMA indicator is above it, located close beneath the near-stated resistance level. The Stochastic Oscillators are in the oversold region, moving in a consolidation style. That denotes that indecision is ongoing presently.
Can further downward pushes be overruled as the LTC/USD market slips, finding support at $200?
As it observed that the LTC/USD price now somewhat moves in a consolidation manner as the market slips, finding support at $200 level, further downward pushes cannot overrule against the value line. However, the same value line appears promising to serve as the fresh-solid support baseline that price can rely upon for making subsequent re-bounding motions.
On the contrary to the upside technical price analysis, the LTC/USD market sellers needed to hold their positions firm against any motion appearing to move past the $225 level in the long run. In the process of heightening the pressure in the current consolidation-moving manner, the support level at $200 may get exposed to breach southward in a consequential order afterward. But, it may not be forthcoming in the near time.
LTC/BTC Price Analysis
In comparison, Litecoin’s trending catalyst appears, losing momentum to Bitcoin. The cryptocurrency pair market slips, finding support closely above the SMA trend lines. The 14-day SMA indicator is tightly-positioned above the 50-day SMA indicator. The bullish trend line drew underneath the SMA trend lines to indicate that the duo cryptocurrency’s price trades around a higher zone despite the slippages. The Stochastic Oscillators are at a range of 20, moving in a consolidation. They are seemingly trying to open the lines southbound against the range line mentioned. That indicates that the base crypto may still experience some more degrees of down-turnings.
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