Home Litecoin price analysis: LTC/USD creeps below the Bollinger  Band as bears take control
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Litecoin price analysis: LTC/USD creeps below the Bollinger  Band as bears take control

FX Street
Updated:
  • LTC/USD has gone down from $55.25 to $54.90 today.
  • The RSI indicator is trending at the edge of the oversold zone.

Litecoin is on course of having two straight bearish days in a row. LTC/USD has fallen from $55.25 to $54.90 today. The hourly breakdown shows us that the price fell to $52.75, where it found support and jumped up to $55.25 this Thursday. After, the price dropped to $54.90 and has been trending horizontally.

LTC/USD daily chart

fxsoriginal

The price has dipped below the 20-day Bollinger Band, indicating that LTC/USD is undervalued. The price is trending below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Relative Strength Index (RSI) indicator is trending at the edge of the oversold zone. The Moving Average Convergence/Divergence (MACD) indicator shows four straight bearish sessions, while Elliott Oscillator has six consecutive bearish sessions.
 

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