Litecoin Trade Retraces – August 18
Price valuation of the LTC/USD market activity is gradually taking to a mere dimensional direction as the crypto trade Retraces. The crypto business bargains around $61.16 at an average percentage rate of 1.01 positive.
Litecoin (LTC) Statistics:
LTC price now – $61.16
LTC market cap – $4.3 billion
LTC circulating supply – 70.9 million
LTC total supply – 84 million
Coinmarketcap ranking – #21
LTC Trade Retraces
Key Levels:
Resistance levels: $70, $80, $90
Support levels: $50, $40, $30
LTC/USD – Daily Chart
The daily chart reveals the Litecoin trade retraces against the Dollars’ worth of the United States of America. The 14-day SMA indicator is at $60.027830 beneath the $65.623286 value line of the 50-day SMA indicator. The horizontal line is drawn intently to mark a higher-lowest point below the SMAs. The Stochastic Oscillators have penetrated the oversold region, positioning at 17.33 and 11.73 range points. That signifies the downward motion might not have reached its peak level to warrant a logical rebounding move.
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At this LTC/USD market’s trading capacity level; can it be lowly priced further?
Even though the LTC/USD market valuation has to go down further from its current trading capacity level has been observed that the crypto trade retraces and the forces backing the moves are too weak to count upon for new selling orders to execute. In the event of price holding too long in its slow movements to the downside around or below the 14-day SMA, there may be a change of pattern to beacon a support-building moment for bulls to make a come-back afterward.
On the downside of the technical analysis, the LTC/USD market bears have to be considerate of new executions in this business operation at any time. The reason for that assumption is that the market is experiencing tight-active movements that are close to causing indecisions trading situation on the daily trading chart over a couple of sessions.
LTC/BTC Price Analysis
Litecoin, in comparison, is pushing firmer against the trending force of Bitcoin in a ranging style at a higher-trading spot, not too away from the recent bearish-trading zone below the SMAs. The cryptocurrency pair trade retraces. The Stochastic Oscillators have moved southbound and are oscillating northbound from around the 20 range to position at 30.17 and 43.49 range values to denote the base trading crypto is struggling to push against the counter crypto.
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Source: https://insidebitcoins.com/news/litecoin-price-prediction-for-today-august-18-ltc-trade-retraces