Litecoin (LTC/USD) Trade Strives for a Rise, Holding Above $65
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Litecoin Price Prediction – January 23
A slow-motion uprising spree has featured in the weight of the Litecoin market against the price worth of the American currency, as the situation shows that the crypto business is presently striving for a rise, holding above the support line of $65.
The lack of bears’ capacity to push the trade line further south past the lower Bollinger Band trend line has been the cause of the condition that has been present for some time, causing price movements that result in up-swinging impulses. After seeing a similar event in the past, long-position placers should increase the size of their current yearning position orders in anticipation of any apprehensive upward moves in the market. Stated differently, investing for the long term is strongly recommended against any potential following attempts to shift down.
LTC/USD Market
Key Levels:
Resistance levels: $75, $80, $85
Support levels:$65, $60, $55
LTC/USD – Daily Chart
The LTC/USD daily chart showcases the crypto market operation striving for a rise, holding above the line of $65.
The indicators of the stochastic oscillators have been turning to the south to indicate that a degree of fall has played out between the pairing instruments. The Bollinger Band trend lines have been systemically placed southerly to depict the trade zones where the price will be aiming to execute forces toward getting up and down and rising inputs.
With a sign that the LTC/USD market is managing to build back up, should sellers put off now?
A delay in the wake that the LTC/USD market is building up might cause a further false of the market shifting back downside, as the situation shows that the crypto trade is striving for a rise, holding above the point of $65.
Points of trade values between $65 and $60 tend to continue as the primary critical locations against observing the amount to which bulls in the market may likely lose stances before regaining their footstep from a reduction rate propensity, as it has been unduly optimistic in pursuit of the present market trend. However, a terrifying price explosion cycle is certain to occur in the next few months in order to eventually make up for some losses that were initially incurred through the overhead barriers.
Through technical trading strategies, bears could have a strong probability of obtaining decent shorting entries when the market is pulling in a direction that could quickly lose momentum at a noteworthy resistance position inside the Bollinger Bands. More significantly, under that scenario, there is a chance that the resistance line at $80 or its trading zones may offer a yielding result.
LTC/BTC Price Analysis
In contrast, the market activity of Litecoin is striving for a rise, pairing with the weight of Bitcoin and holding the middle Bollinger Band.
The stochastic oscillators have traversed northbound to place around some levels of construable resistances that uprising pressures are going to witness a line of deferments before resuming the positive pushes. . In order to occupy a broad position around prominent higher and lower trading lines, the Bollinger Band trend lines have pushed downward. The baseline for obtaining sustainable rebounding entry points is now the lower line.
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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