Litecoin (LTC/USD) Price Ranges in Bearish Channels
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Litecoin Price Prediction – December 21
It now came to the limelight that the LTC/USD market price ranges in bearish channels at a smaller positive percentage rate of about 0.33. The crypto-economic valuation now trades around $153 to depict the actual trading line as of writing.
LTC/USD Market
Key Levels:
Resistance levels: $175, $200, $225
Support levels: $135, $110, $85
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the crypto-economic price ranges in bearish channels around $150 level over a couple of sessions. The 50-day SMA trend line is above the 14-day SMA trend line. The bearish trend lines drew downward across the SMA trend lines. The Stochastic Oscillators are in the overbought region, trying to attempt to close the lines. That indicates that the market may soon lose some of its profit to the north side.
Is there any indication suggesting that the LTC/USD market will regain its lost momentum as the crypto-economic price ranges in bearish channels?
There is no strong indication suggesting a quick-regaining effort in the LTC/USD market operations as the crypto-economic price ranges in bearish channels. It still appears that the crypto economy is facing a resistance beneath $175. The current trading situation requires that the price go down a bit lower against the $150 level to rebuild and solidify a supportive grand for aftermath upswings.
On the downside of the technical analysis, the LTC/USD market operation would face more heightening of a falling force around the $150 before short-position takers can reconsider going for a sell order. Traders intending to go bearish would have to be on the lookout for when that scenario will play out possibly. A quick volatile movement returning from a downward motion against the value line will portend a great deal of achieving sustainable price upswings afterward.
LTC/BTC Price Analysis
In comparison, Litecoin’s trending ability as placed against Bitcoin still wallows under a descending pressure after hitting resistance around the trend line of the smaller SMA, as showcases on the price analysis chart. The 50-day SMA indicator is above the 50-day SMA indicator. The Stochastic Oscillators have slightly crossed the lines southbound at the range of 80 to indicate that the base crypto encounters an uglier lower-higher level. That suggests the base trading crypto is more vulnerable to falling forces, as placed with the flagship crypto in the following sessions.
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