LTCUSD - 1D Chart Analysis
Since the 30th of October, the price of Litecoin has registered a growth of 17.98% but it has failed to break the Resistance Level of 57.47$, meaning that another "peak" has been created.
So far, we have a similar situation with the one for Iota, where excepting the MACD which is still indicating that the price may continue to increase, the rest of the indicators are showing the opposite.
Here, the RSI has bounced back from the level of 59, we might see the Stochastic's crossover in the region of 80 very soon and also the trading volumes are decreasing.
With no strong fundamentals, it seems that the price is heading slowly (but steady) towards the Support Level of 53.01$ and has 2 possible scenarios for later on :
* If the price will bounce back from the Support Level of 53.01$, we can consider 57.47$ as a next target price
* If the price will break the Support Level of 53.01$ and it will also go below the 20 days Moving Average, it means that we will assist to a trend change with the next target price at 50.46$
So far, we have a similar situation with the one for Iota, where excepting the MACD which is still indicating that the price may continue to increase, the rest of the indicators are showing the opposite.
Here, the RSI has bounced back from the level of 59, we might see the Stochastic's crossover in the region of 80 very soon and also the trading volumes are decreasing.
With no strong fundamentals, it seems that the price is heading slowly (but steady) towards the Support Level of 53.01$ and has 2 possible scenarios for later on :
* If the price will bounce back from the Support Level of 53.01$, we can consider 57.47$ as a next target price
* If the price will break the Support Level of 53.01$ and it will also go below the 20 days Moving Average, it means that we will assist to a trend change with the next target price at 50.46$
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