Litecoin Price Falls in the Descending Triangle – February 17
The LTC/USD price falls valuation in the descending triangular outlook. The market percentage is at a negative of 8.30, trading in the high and the low of $129 and $114.that gives a general belief that the crypto economy is under falling pressure as of writing.
Price Falls in the Descending Triangle: LTC Trade
Key Levels:
Resistance levels: $130, $140, $150
Support levels: $100, $90, $80
LTC/USD – Daily Chart
The LTC/USD daily chart reveals the crypto-economic price falls in the descending triangular trading set-up outlook. The southward trend line drew to ascertain the point value at which the market has begun to decline. A bearish candlestick is currently featuring against the trend line of the smaller SMA. The 14-day SMA indicator is underneath the 50-day SMA indicator The Stochastic Oscillators have crossed southbound from the overbought region o touch the range of 40. It still appears the downward force will persist for a while.
Will the LTC/USD market be able to rebound soon as the crypto-economic price falls in the descending triangle?
It seems that there may be no reliable stance soon for a rebound in the LTC/USD market operations as the crypto-economic price falls in the descending triangular outlook. It’s more apparent that the long-position takers should exercise patience in taking further buying orders. The market appears presently lowering to re-build its support back from a lower zone of around the $100 as it did during the last month’s sessions.
On the downside of the technical analysis, it’s apparent that the LTC/USD market shorting forces have re-energized to prevail over some of the subsequent rising movements in the crypto economy. If the same falling capacity that takes form in the trading activities has to follow suit until the next three days’ sessions, the critical support baseline drawn at $100 will breach southward further in the long-term run.
LTC/BTC Price Analysis
In comparison, it appears that Litecoin falls under a declining force as placed with Bitcoin. The cryptocurrency pair price falls underneath the trend lines of the SMAs. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region, slightly into the oversold region, indicating a continual falling course in the duo cryptos. The base crypto appears, striving to regain its strength against the counter crypto in the near time.
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Source: https://insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-price-falls-in-the-descending-triangle