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Litecoin suffers from slow rain – September 19
Recently, the LTC/USD market’s consolidating activity has been unfolding, pushing the crypt down to the $50 line. During the past thirty days of trading, the price has traded between a low and a high of $50.43 and %67.07. At the time of writing, there is a negative percentage rate of 1.14.
Litecoin (LTC) Statistics:
LTC price now – 52.08 dollars
LTC market value – 3.7 billion dollars
LTC circulation supply – 71.2 million
LTC total supply – 84 million
Coinmarketcap Rank – #22
LTC suffers from slow rain
Key steps:
Resistance levels: $60, $70, $80
Support levels: $45, $40, $35
LTC/USD – Daily Chart
On the daily chart, the LTC/USD market moved down to the $50 level as buyers lacked the energy to move through the SMAs’ value resistances. The 14-day SMA indicator is below the 50-day SMA indicator line of $61.584589 at $57.549392. A horizontal line is drawn at the $42 support level. Stochastic Oscillators entered the oversold range to touch the values of 15.07 and 11.31. The downward force appears to be somewhat under way.
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Under what conditions can the LTC/USD market decline above $50?
One of the trading conditions that could cause the LTC/USD market to fall above $50 is to see the bears consolidate their presence around the price line for a long period of time as it descends to the point today. A 1-hour or 4-hour silver candlestick in a low trading zone can give buyers a better position to protect against free declines around the price point. Therefore, it is beneficial for long-term position seekers to remain vigilant and this expectation will be realized later.
On the downside of the technical analysis, most of the trading indicators still suggest that the LTC/USD trade is bearish and is quickly approaching the lower trading exhaustion area. If the market were to revisit the lower lows at the $40 level, the move pattern would come up with some alternate lows in a row. At that time, dice moments about placing a sell order dominated the trading platform.
LTC/BTC price analysis
Litecoin will continue to trade in two sessions in higher range-bound zones than Bitcoin has seen. The price of the cryptocurrency pair will move down to the larger SMA in the upper range of the chart. The 14-day SMA is above the 50-day SMA indicator. The Stochastic Oscillators have entered the oversold territory. And they are pointing south in the range between 12.14 and 7.65. That suggests that the pair may experience further declines for some time before the crypto market swings higher.
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