Litecoin Market Downs, Struggling at $150 – December 11
It is still visible that the LTC/USD market downs, struggling at the $150 trading zone as the crypto-economic price trades around $155 as of writing. The trading activity records an average percentage rate of about 4.96.
Market Downs, Struggling at $150: LTC Trade
Resistance levels: $175, $200, $225
Support levels: $125, $110, $95
LTC/USD – Daily Chart
The LTC/USD daily chart showcases that the crypto-economic market downs, struggling at $150 to determine the next direction. It needed to note that the value-line still somewhat remains the lower range level. The 14-day SMA trend line has briefly intercepted the 50-day SMA trend line to the south side close underneath the $200 resistance level still marked as the upper range level. The Stochastic Oscillators are in the oversold region, moving relatively in a consolidation style to depict a heavy presence of variant trading candlesticks around the value-line mentioned at the beginning of this technical analysis write-up.
Can there still be a further breakdown at the LTC/USD 150 level as the market downs, struggling to achieve a distinctive-next direction from it?
It appears to lack clarity as to whether the LTC/USD price valuation will still go down furthermore at this point as the crypto-economic market downs, struggling at $150 lower range-level. There may be a long-continuation range style movement around the lower range value-line until a while. Meanwhile, in the process of that assumption playing out, some buying openings may surface slightly beneath the level of the trading point.
On the downside, the LTC/USD market short-position takers, in the first place, have to exercise some patience in the wake of trying to make a re-launch of their presence as the market has reached a critical lower support trading spot indicating an oversold condition. A forceful breakdown at the $150 pivotal level will likely cause a whipsawed trading situation against bears in no time.
LTC/BTC Price Analysis
In comparison, Litecoin’s s trending capacity has been overwhelmed by Bitcoin for about a couple of several sessions. The cryptocurrency pair market downs, struggling beneath the trend lines of the SMAs. The 14-day SMA indicator has briefly crossed the 50-day SMA indicator to the south side, attesting that the pair is yet to come out of depression. The Stochastic Oscillators are slantingly positioned northbound in the oversold region to touch the range of 20. That suggests that the base crypto is in the state of struggling to regain its lost momentums as placed with counter flagship crypto.
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