Litecoin: Golden cross loses some sheen
|- LTC gives back gains after the golden cross.
- Retraces back to key levels, do or die for bulls and bears.
Litecoin, the crypto coin that has been one of the firsts to see bullish golden cross technical pattern, rallied quite a bit even as the pattern was unfolding itself, but has already given up some grounds after the crossover.
LTC/USD is down just about one percent on day at $80.833 and trading in less than 3 percent range so far in the weekend trading. On the daily chart, the fifth largest cryptocurrency by market capitalisation with just under $5 billion in market cap, was the first to see bullish technical pattern golden cross and has been the biggest gainer during the rally last month, but has now lost its sheen in the past few days.
On the 180-minute chart, the coin has reached a price from where it should be able to bounce, failing the bounce if the bears are able to gain control, it could be some more losing of ground for the Litecoin.
LTC/USD daily chart:
LTC/USD 180-minute chart:
https://editorial.azureedge.net/miscelaneous/LTC_USD_180_April 21-636914294491505236.png
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.