Litecoin (LTC/USD) Price Holds Recovery Path, Trading Above $70
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Litecoin Price Prediction – January 2
The composure of energy muscling has been continually demonstrated in the business lines that pair Litecoin with the valuation of the US coin, as the financial record shows that the crypto-economic trade holds a recovery path, trading above $70.
The area surrounding the lower Bollinger Band is likely to operate as a crucial transaction line in the event that there is a tendency to see more downward pushes from the current negotiating location, protecting against the danger of longer-term free fall-offs. Furthermore, moving the oscillator indicators to lower zones will provide more breathing room and a better concept for obtaining respectable long entries.
LTC/USD Market
Key Levels:
Resistance levels: $80, $85, $90
Support levels:$70, $65, $60
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the crypto business price’s recovery path, trading above $70, around where the lower Bollinger Band is.
The stochastic oscillators are conjoined with a slight bend toward the southbound, closely above the point of 40. . After hitting a hard point at or around the top Bollinger Band, the candlestick for today has been turning bearish. The benchmark for maintaining a recovery path has been the middle Bollinger Band trend line.
As the price of LTC/USD trades around $73.77 or thereabout, would the limits of the Bollinger Bands see more declines?
At the point of this write-up, the market is suffering a slight setback, with a signal indicating that investors should brace up to launch back-buying dip processes, given that the LTC/USD market holds a recovery path.
Before obtaining a re-buy entry, the stochastic oscillators must move their blue line around the lower points of their second portion. The lower Bollinger Band trend line, which serves as a supporting baseline for buyers to stay above lower zones like $65 and $60, is situated just below the $70 line.
If bulls are unable to resist the present falling motion around the middle Bollinger Band trend line, more rising momentum may be lost. It is urged that sellers exercise caution while moving farther southerly against the signs. Obviously, selling activities may not continue.
LTC/BTC Price Analysis
In contrast, the Litecoin market holds further downward against the valuation of Bitcoin, trading and pushing significantly against the line of the Bollinger Bands at the lower part.
The stochastic oscillators are firmly positioned southbound across some higher points, at around 40 points. A bearish candlestick that shows the base cryptocurrency instrument is under decreasing pressure relative to the counter-cryptocurrency economy is still developing. It is advised that before executing a long order, purchasers should wait for a comeback against the declining momentum near the lower Bollinger Band.a
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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