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LTC Price ‌Analysis:‌ Litecoin Token Recovery Reaches 50-DMA Zone

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  • Litecoin token trading near its 50-day moving average (DMA) line, after a gradual recovery from the lower levels with average volume action.
  • The crypto asset is trading above the short-term moving average of 20-day while is placed under the major moving averages of 100 and 200-DMA lines.
  • The pair of LTC/BTC is trading at 0.003452 BTC with an intraday loss of -2.78%, and the ratio of LTC/ETH is CMP flat at 0.05862 ETH with a slight gain of -0.27%
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Litecoin token, over the monthly chart, is trading near the short-term moving average of the 50-Day line. At the same time, the coin is presently placed above the 20-DMA line after a good recovery from the lower levels.

LTC token witness good buying interest from the lower support zone, and as a result, the coin recovers sharply. Volume is lower on the monthly chart, which falls below the average line and needs to improve. While once the coin started to sustain above its major moving averages with good volume support. Support on the lower side is $118 and $102, whereas resistance on the higher side is $168 and $198.

Litecoin token at the weekly time frame is projecting bullish momentum

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Litecoin token at the weekly time frame is projecting bullish momentum, as the coin makes higher highs and lower low patterns. The coin is trading under the rising channel pattern with excellent volume action above the average line. However, the technical parameters are showcasing a sideways trend on the chart. Presently, the litecoin token is trading at $144 with an intraday gain of +5.15%, and the volume to market cap ratio is at 0.158.

Relative Strength Index (NEUTRAL): Litecoin token RSI presently indicates a sideways or flat trend over the weekly chart. In contrast, the RSI is trading flat after testing the overbought zone and now CMP 60.

Moving Average Convergence Divergence (NEUTRAL): This currently indicates a neutral or cautious trend on the daily chart. This is because the buyer’s signal line (orange) overlaps the seller’s line (blue) with no sign of clear momentum.

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Support levels: $118 and $102

Resistance levels: $168 and $198

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