Litecoin (LTC/USD) Struggles Making Upswings
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Litecoin Price Prediction – June 23
The market operation of LTC/USD has recorded a huge drawdown that has now led the crypto into a struggling situation to regain its worth as being traded with the US fiat currency. Price is currently trading around $130 at a rate of about 9.04 percent.
LTC/USD Market
Key Levels:
Resistance levels: $150, $200, $250
Support levels: $100, $90, $80
LTC/USD – Daily Chart
A bullish candlestick is now in the forming from a notable depth of trading zone as it is depicted on the LTC/USD daily chart. The current main resistance is at the level of $150 that the bearish trend-line drew downward across the SMAs to place a mark upon. The 14-day SMA trend-line is situated underneath the 50-day SMA indicator. And, they are both found around the points of $200 and $150. The Stochastic Oscillators are in the oversold region attempting to cross the lines back northbound to possibly suggest a buy signal.
Will there soon be a sustainable rebound in the LTC/USD market operations?
Considering the lower level at which the LTC/USD market has pushed into, the points of $150 and $100 are now seen to be the areas where bulls are expected to set up reliable support for an aftermath volatile move in the direction of the north. However, rebounding of price against the level of $150 may not be easily come about in the nearest time. Variant pulling downs of the market averagely to the lowly support of $100 could be a better time a buy order is placed.
Talking about the downside continuation of this crypto-economy bears still have the chance to re-launch their stance around the level of $150 as signaled by the indicators. However, a break out of the bearish trend-line from the underneath will potentially suggest a come-back of an upward move. In the actual technical sense of investment, the present in-depth depreciation in the valuation of Litecoin as paired with the US Dollar calls for the worth of re-investing.
LTC/BTC Price Analysis
On the scale of trending capacity comparison between Litecoin and Bitcoin, the price analysis has now clearly depicted that the base crypto has lost stance to the flagship counter crypto, only about three days back. The 50-day SMA has been intercepted from the top by the 14-day SMA trend-line positioning closely over the bullish trend-line that strategically drew in a supportive manner to the bigger indicator. The Stochastic Oscillators are a bit below range 20 in the oversold region faintly pointing to the southbound. That could mean that the base trading tool may still be losing on a lighter note to the counter instrument for the time being.
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