Litecoin (LTC/USD) Price Swings Low, Keeping in Range Values
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Litecoin Price Prediction – August 8
The financial transaction situational reports in the LTC/USD market show that the crypto-economic price swings low, keeping range values tightly above the point of $80.
The buying recoup procedure will need to garner less attention in order to maintain the trade situation steadily at a higher depreciation level than it is now. By doing this, selling activity will continue to consolidate in ranges that will eventually give birth to lows below the crucial line of $80 in a long-holding pattern. Even if the illness is presumed to exist, the initial path to acquiring it may be risky. values within the drawn lower range line.
LTC/USD Market
Key Levels:
Resistance levels: $90, $100, $110
Support levels: $75, $70, $65
LTC/USD – Daily Chart
The LTC/USD daily chart reveals that the crypto-economic price swings low, keeping values in range around the logical transaction spot of $80.
The 50-day SMA indicator is at $89.779441, which is higher than its value of $88.989810. The Stochastic Oscillators are in the oversold area and are hesitantly moving downward between 7.38 and 7.04. This suggests that the supporting velocity at the time of this technical piece has decreased to the point where a warning signal is being given against experiencing significant free fall-offs in the upcoming operation days.
What likely unique direction will the LTC/USD market activity take from its existing trade places going forward?
The likelihood of technical movement away from the LTC/USD price trading sideways near $80 will be to regain its path back to the upside as we are having the crypto’s price swing low, keeping in range values.
While a strong favorable signal is present, long-position takers may re-enter the market by entering a very small portion of their position from the point of $80. In addition to that outcome, a long order with a wide stop-loss range might be placed if no more drops below the point are intended to be purchased.
Looking for the way showcasing a further downfall of the LTC/USD trade from the $80, bears may be allowed to push further with low force that will hardly give a decent entry because the Stochastic Oscillators have indicated points of the reduction in the capacity to make a stable headway to the south at this moment.
LTC/BTC Price Analysi
In contrast, it has been shown that Litecoin’s price swings low as it is trading against the valuation of Bitcoin, keeping in range values around the lower range line drawn.
The 14-day SMA trend line is slightly curved southward over the 50-day SMA trend line, which is located close to the peak of the candlestick pattern from the preceding six days. The Stochastic Oscillators, which have slid into the oversold range, indicate that the devaluation of the fundamental crypto economy is likely to come to an end. Therefore, it would be illogical for bears to place greater emphasis on potential moves that tend to include moving farther below the current lower range than is necessary.
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.
You can purchase Lucky Block here. Buy LBLOCK
