LTCUSDT On April 19, Litecoin experienced a sharp drop below the 20-day EMA (
93), indicating a weakening bullish trend. Despite buyer attempts to push the price back above the 20-day EMA on April 20, the bears stood firm, hinting at their efforts to convert the 20-day EMA into resistance.Next, the sellers are expected to fortify their position by pushing the price below the crucial support level at $85. If this happens, the LTC/USDT pair could potentially slide to the 200-day SMA (
78). To prevent such a decline, the bulls must act swiftly to drive the price above the 20-day EMA and the overhead resistance level at $96.Let me know what you think!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.