Litecoin (LTC/USD) Prices Slow Downward, Averaging $80
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Litecoin Price Prediction – May 2
Litecoin’s prices slow down against the US Dollar to average the support line of $80. The value lies between $88.228353 and $86.043041 have seen a variety of trading actions, maintaining 1.63 percentage point positives. The support line point in question has been exhibiting a promising-bullish trade signal. Investors with a capital size of volumes could go on by exerting more longing positions.
LTC/USD Market
Key Levels:
Resistance levels: $95, $105, $115
Support levels: $80, $75, $70
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the crypto-economic prices slow downward, averaging the $80 support level. The 14-day SMA trend line is at $90.293867 line closely over the $88.045448 value of the 50-day trend line. A line of drops is likely to continue at an undefinable dropping rate if the two signs, which are of a downside nature, are intercepted. Under the 40, the stochastic oscillators are bending slightly to the south.
Is it ideal to purchase Litecoin in exchange for US currency before the price drops to $80?
From the present outlook of the LTC/USD market’s technical reading, it suggested that buyers could open a buy position with a small amount of lot size, as even noticed that the crypto-economic prices slow downward, averaging the $80 line. Over a week and a few days, the market had been able to formulate a baseline around $84 or thereabout toward rebuilding back some springs to decimate the possibility of seeing more decreases in valuation.
On the downside of the technical analysis, sellers needed to exercise the utmost sense of precautionary measure in the light of going for launching of short order. Execution of shorting orders from the current trading axis will more expose to a riskier decision. Therefore, such trading operations should be suspended to be on the safe side.
LTC/BTC Price Analysis
In comparison, following a long-term session of declining trend maintained by Litecoin paired with Bitcoin over time, the former instrument will have to start regaining some stances. However, in the meantime, the pairing crypto-economic prices slow in pushing fearfully upward against the smaller SMA trend line. The 14-day SMA is underneath the 50-day SMA. The Stochastic Oscillators are positioned in a northbound-crossing style from around the 20 to 2556 and 41.02 points, signaling that the base crypto is struggling to push for a recovery.
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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