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  • RSI indicator has dipped from the edge of the overbought zone to the neutral territory.
  • The MACD indicator shows increasing bearish momentum.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD fell from $59.65 to $59 in the early hours of Thursday. Before this, LTC/USD fell below the $60-level this Wednesday as the price fell from $60.68 to $59.65. The price is sandwiched between the SMA 200 and SMA 20, with the latter being on the downside. The 20-day Bollinger Band is constricting, showing decreasing price volatility.

The signal line was about to cross over with the MACD line, indicating a reversal of bearish momentum before they diverged from each other. The RSI indicator kissed the edge of the overbought zone two days back but has since dipped down to the neutral zone. All these indicators tell us that LTC/USD’s current market sentiment is bearish.