Litecoin Price Downturns into the Previous Ranges – November 27
It presently recorded that the LTC/USD price downturns into the previous ranges. As of writing, the crypto-economic market is trading around $196, maintaining a smaller percentage rate of about 0.51 positive. That could mean that the market tends to build support around the upper range-line at $200.
Price Downturns into the Previous Ranges: LTC Trade
Resistance levels: $225, $250, $275
Support levels: $175, $150, $125
LTC/USD – Daily Chart
The LTC/USD daily chart reveals that the crypto-economic price downturns into the previous range-bound trading zones. The upper range-line drew at $200, and the lower range-line is at $150, leaving the $175 level as the mid-range value line. The 50-day SMA trend line is around the upper range line underneath the 14-day SMA trend line. The Stochastic Oscillators are in the oversold region, moving in a consolidation manner to affirm that depression is ongoing in the crypto trade.
Are there still some pressures, backing seeing more downs as the LTC/USD price downturns into the previous ranges?
At this point, it appears dicey to pre-determine the subsequent direction in the LTC/USD market operations as the crypto-economic price downturns into the previous range-bound trading zones of $200 and $150. Presently, the reading of the Stochastic Oscillators in the oversold region suggests that a consolidation moving manner has to dominate the market arena. Based on that, some degrees of lower lows tend to play out in the following trading sessions in the range-bound zones. Long-position takers may patiently wait for a rebound characterized with a bullish candlestick at a lower trading spot before considering launching of buying order afterward.
On the downside, the LTC/USD market short-position takers may have to stay wary by launching a sell order around the current upper range level. They needed to exert more pressure at that value line to dowse the possibility attempt that the market may be making to return to upswings from the $200 level. In the process of the market holding back against any motion to the upside at that level point, price stands the potential to witness more downs in the range-bound zones.
LTC/BTC Price Analysis
In comparison, Litecoin’s s trending catalyst appears to be on the verge of losing momentum to Bitcoin. Presently, the cryptocurrency pair price downturns against the conjoined trending area where the two SMA trend lines are. The 14-day SMA indicator is tightly above the 50-day SMA indicator. The Stochastic Oscillators have, from the range of 20, slantingly bent southbound in the oversold region. That indicates that the base crypto may go under pressure, pairing with the flagship counter crypto.
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