- Litecoin token is trying to rebound after a continuing downtrend, but still, bulls seem weak over the monthly chart.
- The digital asset is trading below all vital moving averages of 20, 50, 100, and 200-day, while 20-day moving averages are a substantial hurdle.
- The pair of LTC/BTC is trading flat at 0.003645 BTC with an intraday loss of -0.45%, and the ratio of LTC/ETH is CMP at 0.05884 ETH with a loss of -3.08%
Litecoin token over the monthly chart is trading on a bearish note and making lower lows and lower highs. The coin is now trying to build a bullish engulfing candle over the daily chart, and the volume is lower and falls below the average line.
The coin is trying to recover from the lower levels, but the coin fails to suppress its 20-DMA. However, once the coin starts to sustain above 20 and 50-DMA with good volume, it will boost more buyers in upcoming trading sessions. Support on the lower side is $149 and $181, whereas resistance on the higher side is $101 and $94.
Litecoin token is trying to rebound over the weekly chart
Litecoin token is trying to rebound over the weekly chart, and then bounce back is not very strong. Moreover, the coin at the weekly chart seems oversold, and the pullback can be used to short the coin with proper stop loss. After a strong downtrend, the coin is now trying to recover, but the volume is not supported. Similarly, the technical parameters are rebounding from the oversold zone, and a short-term pullback is expected. Presently, litecoin is trading at $117 with an intraday gain of +7.75%, and the volume to market cap ratio is at 0.1818.
Relative Strength Index (Bullish): litecoin token RSI presently indicates a bullish or positive trend over the weekly chart. In contrast, the RSI is trying to rebound after testing the oversold zone and now heading higher CMP 54.
Moving Average Convergence Divergence (Bullish) currently indicates a positive or bullish trend on the daily chart. This is because the buyer’s signal line (green) overlaps the seller’s line (red).
Support levels: $101 and $94
Resistance levels: $149 and $181.