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Litecoin (LTC/USD) Price Embarks on Sideway Moves

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Litecoin (LTC/USD) Price Embarks on Sideway Moves
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Litecoin Price Prediction – May 24
The LTC/USD market price embarks on sideway moves closely underneath the $75 resistance line. Price is now trading between a smaller space of the $70 and $68 value lines, maintaining a minute percentage rate of 0.99 positive.

LTC/USD Market
Key Levels:
Resistance levels: $75, $100, $125
Support levels: $50, $35, $20

LTC/USD – Daily Chart
The LTC/USD daily chart exhibits the crypto-economic price embarks on sideway moves, featuring not too far below the $75 resistance level of trading. The 50-day SMA indicator is above the 14-day SMA indicator. The horizontal line drawn allows traders to take the cognizance of the $50 support level as the critical baseline in the eventual aggressive falling force that can eventually occur from the ranging spot. The Stochastic Oscillators are in the overbought region with their line conjoined to signify the possibility of having less ado in terms of getting more ups soon.

Will the LTC/USD price witness an increase in its valuation in the face of current sideway moves?
Unexpectedly, the LTC/USD market price will not witness an increase in valuation in the face of the current sideway moves posture. It has not been that some movements are coming in force looking at the long-term price analysis chart. Being it is, traders are to find the Stochastic Oscillators at default settings instrumental in their decision making of this trading instrument.

On the downside of the technical analysis, all seems running ready to have the market pushed down by bears from the ranging spots in the long0-term run. A spike may falsely come up against the $75 resistance trading level to allow the short-position takers to take advantage of the presumed situation. The market is settling to rebuild its support-finding velocity around the $50 as occurred several days back.

LTC/BTC Price Analysis
Litecoin has been downward-trending over time, pairing with Bitcoin on the price analytics chart. The cryptocurrency pair price embarks on sideway moves underneath the trend lines of the SMAs. The 14-day SMA indicator is beneath the 50-day SMA indicator. The bearish channel trend lines are to enclose the SMAs with the Japanese trading candlesticks representing the outcome of the market’s situation between the LTC/BTC trade buyers and sellers. The Stochastic Oscillators have briefly moved into the overbought region to suggest a possible return of a downward trend against the base crypto in favor of the counter crypto.

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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