Litecoin (LTC/USD) Trade Goes Southerly, Securing Support
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Litecoin Price Prediction – September 12
The overall trade outlook of the transaction lines, including Litecoin and the US Coin, showcases that the crypto-economic trade goes southerly briefly beyond the logical support of $60 before securing support from around the value line.
In order to make it difficult for bulls to take a position during yesterday’s transaction session, bears were able to instill a sense of anxiety. The early cycle of the transaction, however, got off to a good start by moving up from a baseline of $58.658802 to currently trade at roughly $60.011017 at a positive percentage rate of 1.94.
LTC/USD Market
Key Levels:
Resistance levels: $70, $75, $80
Support levels:$55, $50, $45
LTC/USD – Daily Chart
The LTC/USD daily chart reveals the crypto trade goes southerly in the furtherance of looking toward securing support ahead of pushing back for rises.
The 14-day SMA indicator is positioned at $66.302045 underneath the $78.207980 point of the 50-day SMA indicator. Over time, the Stochastic Oscillators have been moving lackadaisically to the southbound to stay between 32.94 and 23.81 values. Today’s formation of a candlestick shows the price is reverting to a rallying move.
What business deal trend is currently most likely in the LTC/USD market?
A positive situation has been established in the direction of the LTC/USD trade as the crypto’s price goes southerly, securing support from a close spot underneath the level of $60.
The market appears to have hit a significant reduction-trade level that is logically appropriate to begin making a recovery, to use more precise technical language. Even the prices in the $60–$50 range should be viewed as a window of opportunity for buyers to enter the market before further, terrified upward pushes push above them.
Given the potential psychological impact of this cryptocurrency trading industry, it is not recommended to execute an immediate shorting position order at or below the trend line of the smaller moving average. Instead, if the advances in that direction tend to be minor, sellers should wait for a potential retest with active reversal action near the resistance line of $70 before they contemplate placing a short order.
LTC/BTC Price Analysis
In contrast, Litecoin’s price goes southerly in pursuit of trying to secure support against the trending worth of Bitcoin from underneath the moving averages.
Underneath the 50-day SMA indication is the 14-day SMA indicator. The lower horizontal line, which indicated that the base cryptocurrency may still briefly fall against its counter-trading component for a time, is drawn closely beneath a smaller bearish candlestick in the making. The Stochastic Oscillators are maintaining values between 19.48 and 0.92 while in a downward crossing mode. That suggests that LTC may pick up steam as a bullish candlestick starts to emerge.
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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