- Litecoin price recovery now reaching near the previous rising trend line and sustain above 200-DMA
- The coin gradually recovering after yesterday`s selloff, while successfully managing above 200-DMA
- The pair of LTC/BTC is CMP at 0.005337 BTC drops by -2.10%, while, LTC/ETH standing at 0.07621 ETH trading positively by +2.14%
Litecoin price recovery is now reaching a very critical level, whereas now the support line or trend line is acting as a resistance line. The digital asset, after the breakdown of the most effective trend line witnessed strong selling pressure and price made a low of $151. Whereas LTC also recovered sharply from the lower levels and now the closing of day candle above the 100-DMA will give confidence to bulls. Since the coin is dropped below 20, 50, and 100-DMA and the current market condition is extremely volatile. So, one can trade or invest after the market cools off or gets stable. Support on the lower side is at $190 and $150; while, a resistance level is $240 (100-DMA) and $320.
Litecoin Near The Interesting and Critical levels
Over the monthly chart, Litecoin price is now coming near the interesting and critical levels. Whereas, the coin now manages to hold 200-DMA, while on other hand is trying to suppress 100-DMA. However, the 20-DMA is also heading towards 50-DMA and if it crosses then LTC will go in favor of bearish momentum. Similarly, if 20 and 50-DMA crosses will create a significant downtrend and indicators are also suggesting the same. Since LTC will overcome the 100 and 50-DMA and sustain above the trendline we will again see good upside till $350 to $420.
Relative Strength Index (NEUTRAL) LTC rebounds sharply after testing oversold territory. Seems, good buying interest at the oversold zone.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a neutral trend on the daily chart. It is trading with the significance of the seller’s line (red) over the buyer’s signal line (green). Presently, LTC projects no significant recovery.
Support levels: $190 and $150
Resistance levels: $240 and $320