A place where tipping is allowed!

Advertisements

Litecoin Price Prediction: LTC/USD Market Attempts Downsizing at $170

Litecoin Market Attempts Downsizing – October13
There has been a sign that the LTC/USD market attempts downsizing around the level of $170. As of writing, the crypto coin is trading around $169 at a minimal negative percentage rate of about 1.95. That gives an insight that the market may likely witness a degree of downs in the near time.

Market Attempts Downsizing: LTC Trade
Key Levels:
Resistance levels: $190, $230, $270
Support levels: $140, $120, $100
Litecoin Price Prediction: LTC/USD Market Attempts Downsizing at 0
LTC/USD – Daily Chart
The LTC/USD daily chart reveals that the crypto market attempts downsizing around the level at $170. The 14-day SMA trend line and the 50-day SMA trend line have conjoined around the current trading zone as the bullish trend line drew in a supportive manner closely beneath them. The Stochastic Oscillators have crossed the lines northbound against the range line at 80. And that indicates the potential that a price depression motion may take place in the near time.

Could there be a fast return of an upward motion in the LTC/USD trading operations as the market attempts downsizing?

Considering the readings of the Stochastic Oscillators, it now appears that the LTC/USD trading operations presently may not witness a fast return of an upward motion as the market attempts to downsize its valuation. The current trading outlook may have to decline slightly in a succession order to let bulls rebuild their support baseline at a low trading zone close around the level of $150 or $140 in an extension. Investors are to hold on or even add to their investment.

On the downside, the LTC/USD market bears have now had the stage getting set to witness some falling forces beneath the market line of $200. A bigger-bearish candlestick needed to emerge against the SMAs at the conjoined trading zone to let the market have a definite downward direction. However, in the course of erratic volatility, the touching of price around lower lines may in no time cause the selling positions to get whipsawed.
Litecoin Price Prediction: LTC/USD Market Attempts Downsizing at 0

LTC/BTC Price Analysis

In comparison, the LTC/BTC price analysis chart shows that the base crypto is overwhelmed by the counter crypto. The 14-day SMA trend line bends southward underneath the 50-day SMA trend line a bit-far above the formation of bearish candlesticks. The Stochastic Oscillators have moved into the oversold region, touching the critical level at zero. That portends the probability that the base crypto may soon be regaining momentum against the trending capability of the flagship counter instrument.

Looking to buy or trade Litecoin (LTC) now? Invest at eToro!

67% of retail investor accounts lose money when trading CFDs with this provider.

 

Read more:

Related articles

Fight against global recession reaches new level of urgency

The struggle to stop a global recession has reached a new level of urgency, but not so much so that a couple of key fighters feel compelled to extend their tours of duty.Mark Carney, the Bank of England Governor, ended his seven-year run on Threadneedle Street as planned on March 13, even as COVID-19 continued…

Fed slashes rate to near zero to buffer economy from impact of coronavirus

The Federal Reserve swept into action on Sunday in a fresh bid to save the U.S. economy from the fallout of the coronavirus, cutting its benchmark interest rate by a full percentage point to near zero and promising to boost its bond holdings by at least US$700 billion.The central bank also announced several other actions,…