Litecoin technical analysis: LTC/USD recovery limited by Bollinger Band middle curve

• Litecoin widening gap between the 50-day SMA and the 100 SMA emphasizes the strong bears’ grip.
• Litecoin bulls must pull above the lock-step trading under $55 to gain momentum towards $60.

Spot rate: $55.93

Relative change: +0.1486

Percentage change: 0.27%

Trend: Bearish

Support: $50 – $52

Resistance: $55 and $60

LTC/USD daily chart

The Relative Strength Index (RSI) gradual movement north signals a relatively improving technical picture.

Litecoin’s upward movement hampered by the Bollinger Band middle.

LTC/USD four-hour chart

Litecoin sustains upward movement from the recent low from around $51.19.

The Simple Moving Average (SMA) currently at $54.45 is in line to offer support.

LTC/USD one-hour chart

Litecoin stays above the accelerated trendline while the main trend line will be useful later in the event losses press down towards $50.