- Litecoin crypto is trading near major moving averages on the 20, 50, 100 and 200 day lines, which is currently an area of support in the current scenario.
- The crypto asset saw strong buying interest from lower levels, and as a result, the coin jumped over all major DMAs. Nonetheless, the recent retreat from higher levels has presented another opportunity for the bulls.
- The LTC / BTC pair is trading slightly negative at 0.003572 BTC with an intraday loss of -1.84%, and the ratio of LTC / ETH is CMP at 0.05413 ETH with a 24 hour change of -1, 71%.
Litecoin Crypto is trading near the vital moving averages after a strong rebound from lower levels. While the token is also exposed to supply on the higher side, the coin has seen selling pressure near the $ 200 mark.
The coin is consolidating near the major moving averages and not moving up while the DMA provides support on the downside as well. The sustainability above the important DMA of 20, 50, 100 and 200 day lines with good volume traction will cause a strong recovery in the coming trading sessions. Support on the lower side is at $ 158 and $ 136, while resistance on the higher side is at $ 198 and $ 225.
Litecoin crypto in the weekly timeframe is experiencing a minor pullback
Litecoin Crypto in the weekly timeframe is experiencing a slight pullback from the higher side. At the same time, the technical parameters have been forecasting a downward trend since the last trading sessions. The coin is currently entering the oversold zone and we can see a good rebound in the upcoming trading sessions. Volume in the 4 hour timeframe is recorded near the average line and needs to improve for another round of bullish momentum. Currently, the Litecoin price is trading at $ 170 with an intraday loss of -1.17% and the volume to market cap ratio is 0.2126.
Relative Strength Index (NEUTRAL): Litecoin The crypto RSI is currently showing a slightly flat and near oversold zone on a weekly chart. In contrast, after testing the higher levels and the CMP at 42, the RSI trades flat.
Moving average convergence divergence (NEUTRAL): The daily chart indicates a neutral or impending positive trend. The buyer’s signal line (blue) goes towards the seller’s line (orange) for a positive crossover.
Support levels: $ 158 and $ 136
Resistance Levels: 198 and 225 dollars.