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Litecoin price analysis: Bulls recover price to $65.10 following bearish Friday

FX Street
Updated:
  • LTC/USD fell from $67.35 to $65.15 within four hours this Friday.
  • The relative strength index (RSI) indicator is trending around 34.85.

Litecoin has gone up from $65 to $65.15 this Saturday following a bearish Friday wherein it fell from $65.40 to $65. The hourly breakdown shows us that LTC/USD had a bullish start to Friday, wherein the price went up from $65 to $67.60. However, the bulls soon lost steam and bears took control of the market, including a sequence where LTC/USD fell from $67.35 to $65.15 within four hours.

LTC/USD daily chart

fxsoriginal

Litecoin met resistance at the downward trending line and the 20-day simple moving average (SMA 20) curve before falling down. The price is also trending below the SMA 200 and SMA 50 curves. The moving average convergence/divergence (MACD) line is trending right next to the signal line, indicating low bullish momentum. The relative strength index (RSI) indicator is trending around 34.85.
 

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