- Litecoin crypto is trading near the major moving averages of 20, 50, 100, and 200-day lines, which is currently a support area in the current scenario.
- The crypto asset witnessed a strong buying interest from lower levels, and as a result, the coin jumped above all vital DMA’s. Still, the recent pullback from higher levels gave another opportunity to bulls.
- The pair of LTC/BTC is trading on a slightly negative note at 0.003572 BTC with an intraday loss of -1.84%, and the ratio of LTC/ETH is CMP at 0.05413 ETH with a 24-hour change of -1.71%.
Litecoin crypto is trading near the vital moving averages after a strong recovery from the lower levels. Whereas the token also faces supply at the higher side, and as a result, the coin witnessed selling pressure near the $200 mark.
The coin consolidates near the major moving averages and fails to go higher, whereas the DMA also provides support on the lower side. The sustainability above vital DMA of 20, 50, 100, and 200-day lines with good volume traction will create a strong rebound in upcoming trading sessions. Support on the lower side is at $158 and $136, whereas resistance on the higher side is $198 and $225.
Litecoin crypto at the weekly time frame is witnessing minor pullback
Litecoin crypto at the weekly time frame is witnessing minor pullback from the higher side. At the same time, the technical parameters are projecting a bearish trend since the past few trading sessions. Currently, the coin reaches near the oversold zone, and we can see a good recovery in upcoming trading sessions. Volume at the 4-hour time frame is recorded near the average line and needs to improve for another lap of bullish momentum. Presently, the litecoin price is trading at $170 with an intraday loss of -1.17%, and the volume to market cap ratio is at 0.2126.
Relative Strength Index (NEUTRAL): litecoin crypto RSI presently indicates a slightly flat and trading near oversold zone at a weekly chart. In contrast, the RSI is trading flat after testing the higher levels and CMP at 42.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral or upcoming positive trend. The buyer’s signal line (blue) is heading towards the seller’s line (orange) for positive crossover.
Support levels: $158 and $136
Resistance levels: $198 and $225.