Litecoin technical analysis: LTC/USD trends horizontally as it consolidates itself below $60

• The daily LTC/USD price is sandwiched between the SMA 50 and SMA 20 curves.
• The four-hour LTC/USD chart is trending within a triangular pattern.

LTC/USD daily chart

The LTC/USD chart is trending in a flag formation. This Thursday, Litecoin has gone up slightly from $58 to $58.25. The price is sandwiched between the 20-day Simple Moving Average (SMA 20) and SMA 50 curves, with SMA 50 acting as immediate market resistance. It looks like LTC/USD is consolidating itself below the $60 mark. The Relative Strength Index (RSI) indicator is trending around 53.10.

LTC/USD four-hour chart

The four-hour LTC/USD is trending within a triangle formation, getting ready for a potential breakout and is floating above the green Ichimoku cloud. The SMA 50 curve has crossed over the SMA 200 curve, charting a golden cross pattern. The Moving Average Convergence/Divergence (MACD) indicates increasing bearish market momentum.

LTC/USD hourly chart

The SMA 20 curve has dipped down and is acting as support for the hourly market. The 20-day Bollinger jaw has constricted, indicating decreasing market volatility. The Elliott Oscillator has had three consecutive bullish sessions.

Key Levels