Litecoin (LTC/USD) Price to Lose a Catalyst, Pushing Near $100
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Litecoin Price Prediction – May 16
There has been a tendency for the LTC/USD market to lose a catalyst, as the crypto-economic operations are currently pushing near the $100 resistance. The percentage rate of the motions is at 2.74, leaving the price to trade between $86.214021 and $89.763432 trade zones in positives. Buyers needed to protect their stances that might have opened around $75 with a trailing stop order. And they should be wary of letting the positions in the phase of a significant reversal mode.
LTC/USD Market
Key Levels:
Resistance levels: $100, $105, $110
Support levels: $85, $80, $75
LTC/USD – Daily Chart
The LTC/USD daily chart reveals the crypto-economic price may lose a catalyst, pushing near the resistance of $100 in the long run. The 14-day SMA indicator bent slightly to the north, closely beneath the 50-day SMA. Yesterday, a bullish candlestick was created via this area, causing the price to rise to its current level of $89.309868. An overbought circumstance is rapidly coming because the stochastic oscillators are headed north at 73.08 and 95.20.
As the price of the LTC/USD market gets closer to $100, are any reliable buy entries available right now?
Going by an ideal technical trading approach ethics, it is not ideal to launch a buy order in the LTC/USD market operations as it has been that the crypto-economic price is pushing near the resistance of $100. The buying cycle is currently at the point of fatigue, which will make it unnecessary to place additional orders for long positions.
On the losing-moving direction of the LTC/USD trade technical analysis, short-position placers be alert when a bearish candlestick emerges following a rejection at a high point near or around the $100 resistance line before launching a shorting order. And another look at the trading approach is that if today’s session turns to produce a bearish candlestick against the SMA trend lines, bears will systemically capitalize the path to get some reduction points against the $75 support line afterward.
LTC/BTC Price Analysis
In contrast, Litecoin trading activities have been rising against Bitcoin under a bearish trading setting around the bigger SMA trend line. The pairing cryptocurrency market may lose a catalyst, pushing near a high point in the well-defined range-bound spots over time. The 50-day SMA indicator is over the 14-day SMA indicator. The Stochastic Oscillators are in the overbought region, keeping 99.52 and 100 levels. The base crypto is presently pushing in the mood of heading toward completion.
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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