Litecoin (LTC) technical analysis:
Trade setup: Following a Bearish breakout from Channel Up pattern, price broke below $80 and $70 support, and below 200-day MA, reversing trends. It is very oversold now (RSI ~ 20) and could bounce up near-term.
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $70, which it broke, then $60. The nearest Resistance Zone is $80 (previous support), then $90.
Trade setup: Following a Bearish breakout from Channel Up pattern, price broke below $80 and $70 support, and below 200-day MA, reversing trends. It is very oversold now (RSI ~ 20) and could bounce up near-term.
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $70, which it broke, then $60. The nearest Resistance Zone is $80 (previous support), then $90.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.