- Litecoin token over the monthly chart is trying to get stable by sustaining above its major moving averages of 50, 100, and 200-Days.
- The crypto asset is presently facing minor resistance of 20-day short-term moving averages while needs more volume for strong reversal.
- The pair of LTC/BTC is trading on a negative note at 0.003973 BTC with an intraday loss of -2.05%, and the ratio of LTC/ETH is CMP at 0.0531 ETH with a significant intraday loss of -4.47%.
Litecoin token seems gating stable near its vital moving averages after a sharp selloff from higher levels. The digital asset at the monthly chart can regain its lost bullish momentum it manages to hold its major DMA lines. Moreover, if LTC can break its minor resistance line of 20-DMA, we can see a strong recovery.
Volume over the chart is comparatively lower, which needs to improve for a rally in the upcoming trading sessions. The overall trend is still in favor of bulls until the coin sustains above 50, 100, and 200-DMA lines, with positive volume traction. Support on the lower side is $162 and $151, whereas resistance on the higher side is $189 and $198.
Litecoin token is trading under the ascending triangle pattern
Litecoin token is trading under the ascending triangle pattern, with higher highs and lower patterns. The volume over the weekly chart is still lower and needs to improve for a positive breakout from the pattern. Meanwhile, the technical parameters are gradually turning positively, with a good recovery from lower levels. The significant level to watch out for short-term traders is $189. Above this level, we can see bullish momentum in the short term. Presently, the litecoin token is trading at $182 with a flat intraday action of -0.52%, and the volume to market cap ratio is at 0.1995.
Relative Strength Index (BULLISH): Litecoin token RSI indicates a gradual bullish trend after consolidation over the weekly chart. In contrast, the RSI trades at the neutral zone while heading towards the higher area and now CMP at 50.
Moving Average Convergence Divergence (BULLISH): The daily chart indicates a mixed trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overpowers the seller’s line (red) with a positive crossover.
Support levels: $162 and $151
Resistance levels: $189 and $198.
