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Litecoin Price Analysis: LTC/USD dips below the green Ichimoku cloud

FX Street
Updated:
  • LTC/USD has found support on the SMA 20 curve.
  • The MACD indicator has had a red session following 42 straight green sessions.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD bears retained control of the market for a second straight day. This Thursday, the price dropped from $58.15 to $54.45. So far this Friday, the price has fallen further to $53.15 and dipped below the green Ichimoku cloud. The SMA 20 acts as immediate market support and is holding the price up. The MACD indicator shows a reversal of bullish momentum, as the signal line has crossed over the MACD line for the first time in 42 days. The RSI indicator has dropped to 51.55, showing that the market is going through a sell-off period.
 

FX Street

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