Litecoin price is entering a consolidation phase after recovery was rejected at $48. LTC/USD sellers’ influence is still present especially with the 50-day SMA increasing the gap under the 100-day SMA. Litecoin price has sustained gains above a key ascending trendline since the dip to $25 support in March. Recovery has been gradual but steady. The tug of war between the bears and the bulls made the $40 level impenetrable until the surge early this week when LTC/USD soared towards $50. However, Litecoin hit a snag at $48 and the trend settled in a sideways action above the immediate support at $45. This consolidation is supported by the horizontally moving RSI (above the average). As long as the price can hold above $45, buyers will have the time to gather the strength to attack the congestion of sellers at $48 and $50 respectively. On the upside, besides the resistance at $48, the 50-day SMA is in line to hinder movement targeting the critical $50. The 200-day SMA at $53.50 will also give the bulls a difficult time in the journey heading to $60. Litecoin intraday levels Spot rate: $45.78 Relative change: -0.8635 Percentage change: -1.85% Trend: Bullish Volatility: Shrinking LTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD Price Analysis: 1.4160/65 becomes the tough nut to crack for buyers FX Street 2 years Litecoin price is entering a consolidation phase after recovery was rejected at $48. LTC/USD sellers’ influence is still present especially with the 50-day SMA increasing the gap under the 100-day SMA. Litecoin price has sustained gains above a key ascending trendline since the dip to $25 support in March. Recovery has been gradual but steady. The tug of war between the bears and the bulls made the $40 level impenetrable until the surge early this week when LTC/USD soared towards $50. However, Litecoin hit a snag at $48 and the trend settled in a sideways action above the immediate support… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
