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Litecoin technical analysis: LTC/USD trends horizontally after dropping down from its range

FX Street
Updated:
  • The SMA 20 curve acts as an immediate market resistance.
  • The 20-day Bollinger band has widened in the four-hour chart, indicating increasing market volatility.

LTC/USD daily chart

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LTC/USD was trending horizontally in a narrow range before the price dropped down this Wednesday. Currently, LTC/USD is priced at $49.60 and has found resistance at the SMA 20 curve. The Relative Strength Index (RSI) indicator is trending around 33.15.

LTC/USD four-hour chart

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The four-hour LTC/USD chart is trending in an upwards channel formation and has met resistance at the $50.25 line. The 20-day Bollinger jaw has widened, indicating increasing market volatility. The Moving Average Convergence/Divergence (MACD) shows decreasing bearish momentum.

LTC/USD hourly chart

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The hourly chart has found support at the upward trending line. The SMA 20 curve has taken a sharp turn and now acts as immediate market resistance. The Elliott Oscillator shows six straight bearish sessions.

Key Levels

 

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