LTC/USD has recovered from the sharp sell-off during early Asian hours. The bullish recovery may be limited by intraday SMA50. Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $2.7 billion, has recovered from the intraday low to trade at $43.66 by the time of writing. LTC/USD touched $42.35 during early Asian hours, but managed to regain some ground amid technical correction from an oversold territory Litecoin’s technical picture From the intraday, perspective a strong resistance is now created by an SMA50 (Simple Moving Average) on a 1-hour chart at $46.40. It coincides with the lower boundary of the weekend range. Once it is broken, the recovery may be extended towards $48.00, reinforced by SMA100 1-hour. The next resistance comes at psychological $50.00 followed by SMA200 1-hour at $ 52.40. On the downside, a sustainable move below the intraday level of $42.35 will open up the way to $40.00. The last time LTC/USD traded below $40.00 in February 2019. This barrier is likely to slow down the bears and serve as a jumping-off ground for the recovery. The next support awaits us on approach to $37.00 (the lower line of the weekly Bollinger Band). LTC/USD, 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/USD bulls await a sustained move beyond 0.6800 handle FX Street 3 years LTC/USD has recovered from the sharp sell-off during early Asian hours. The bullish recovery may be limited by intraday SMA50. Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $2.7 billion, has recovered from the intraday low to trade at $43.66 by the time of writing. LTC/USD touched $42.35 during early Asian hours, but managed to regain some ground amid technical correction from an oversold territory Litecoin's technical picture From the intraday, perspective a strong resistance is now created by an SMA50 (Simple Moving Average) on a 1-hour chart at $46.40. It coincides with the lower… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
