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  • The price has found support on the SMA 50 curve.
  • The Elliott Oscillator shows sustained bullish momentum.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD dropped from $44.30 to $44.05 as the bears retained their control for the second straight day. The price is currently consolidating underneath the triangle formation and has found support at the SMA 50 curve. The Elliott Oscillator shows that despite the recent bearish price action, the overall market sentiment remains bullish.

To take back control, the bulls must overcome resistance at SMA 20, $46.55, and $48.80. On the downside, the price is well supported at $42.50 and $39.80.

Key levels