Litecoin Trade Strives at $150 – August 8
The trading transaction financial record book of the LTC/USD trade strives around the level of $150. As of writing, the crypto’s price bargains around the line at $154 at a percentage rate of about -1.12.
Trade Strives at $150: LTC Market
Resistance levels: $180, $230, $280
Support levels: $120, $100, $80
LTC/USD – Daily Chart
The market operation of the LTC/USD shows on the daily chart that the crypto trade strives around the level of $150. The placement of the bigger SMA trend-line a bit above $150 showcases that price would have to intensify pressure to push past it later. The 14-day SMA indicator is beneath the 50-day SMA, bending toward the north slightly. The Stochastic Oscillators are in the overbought region, with the lines trying to cross back upward around the range of 80. That indicates that some relative upward forces are ongoing.
What could now be the next direction as the LTC/USD trade strives at $150?
There may be an emergence of a line of tradings characterized by variant serial smaller-ups at a later session as the LTC/USD trade strives at $150. The crypto cannot push forcefully as of now. Therefore, it may still take the market bulls some more time to build up catalyst underneath the trend-line of the bigger SMA. Meanwhile, the current could be taken advantage of by investors.
On the downside, resistance seems to await the crypto’s level of appreciation between the points of $150 and $200. A sharp reversal in those values will potentially lead to a free-fall of the market, which may short-live. A long prolongation of price consolidation may also cause an indecision trading situation for the market. A notable sudden downward force against the present trading zone at the point earlier mentioned.
LTC/BTC Price Analysis
The LTC/BTC price analysis exhibits that the base crypto is somewhat overwhelmed by the counter crypto. The LTC/BTC trade strives close underneath the sell signal line of the smaller SMA. The 50-day SMA indicator is above the 14-day SMA. And, the bearish trend-line drew alongside the smaller SMA trend-line. The Stochastic Oscillators have crossed the lines from the overbought region briefly past the range of 80 to the southbound. That indicates that the base crypto may still lose a trending weight to the counter trading tool.
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