Litecoin (LTC) Price Analysis (April 24)
• The overall outlook of the cryptocurrency is in a range-bound market.
• The bulls may continue the journey to the resistance area.
LTC/USD Medium-term Trend: Ranging
• Resistance levels : $70, $80, $90
• Support levels: $20, $10, $9
LTCUSD is in consolidation in its medium-term outlook. The crypto closes with $41.03 and $43.97 both in the resistance area as the high during yesterday’s session.
Today’s daily candle opens on a bullish note at $42.99 in the resistance area as the bulls remain dominant in the market within the range.
Pressure from the bulls pushes the price further up to $43.76 in the resistance area within the range.
Price hovers around the two EMAs, this implies an undefined control of the market between the bulls and the bears as the coin consolidate.
Hence, the stochastic oscillator pointing upwards at around level 63% in the overbought region suggests that the bulls may likely dominate the market in the future.
Litecoin is in a sideways and trading within $60 in the resistance area and $39 in the support area within the range.
A breakout at the upper resistance area or a breakdown at the lower support area may occur, at this period traders must take caution and allow this to happen before placing a trade.
LTC/USD Short-term Trend: Ranging
The coin remains in a range-bound market in its short-term outlook. Today’s 4-hourly session at $42.99 opens on a bullish note in the resistance area within the range.
Bullish pressure pushes the price up north at $43.76, after which the bear’s brief return now drops the price of the crypto at $43.41 in the support area within the range.
The stochastic oscillator signal pointing sideways at around level 70% suggests an undefined control of the market between the bulls and the bears at the present.
Litecoin is in consolidation and trading within $47.40 in the resistance area and $38 in the support area within the range.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
Published at Fri, 24 Apr 2020 04:33:37 +0000 Litecoin (LTC) Price Analysis (April 24)