Litecoin technical analysis: LTC/USD paralyzed within a $10 range

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  • Litecoin price must break above the 50-day SMA in order to focus on levels above $70.
  • The path of resistance is to the downside; the 50 SMA on the hourly chart is in line to offer the much-need support.

Spot rate: $54.57

Relative change: -0.4196

Percentage change: -0.76%

Trend: Bearish

Volatility: High

LTC/USD daily chart

Litecoin movement have been limited within a narrow range between $50 and $60 for almost three weeks.

The upside is also limited by a four-months long descending trendline.

LTC/USD 240-minutes chart

Litecoin retreats after hitting a dead-end at $55 after the recovery staged on Thursday.

The Bollinger Band four-hour middle curve currently offers support amid shrinking volatility.

LTC/USD 60’ chart

Litecoin breaks below a short-term ascending trendline as the bears grab back the joystick.

The dropping RSI suggests that the sellers’ grip on the price is growing stronger.

 

 

 

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