LTC/USD showing bearish tendencies despite upward movement - Technical Analysis

Rajarshi Mitra Independent Analyst

LTC/USD daily chart

LTC/USD went up from $44.23 to $45.75 this Tuesday.
The last session was bullish as LTC/USD found support on the upward trending line.
The moving average convergence/divergence(MACD) shows bearish momentum.

LTC/USD 4-hour chart

The LTC/USD 4-hour chart shows that the 50-day simple moving average (SMA 50) curve has crossed over the SMA 20 curve which indicates a sell signal.

LTC/USD hourly chart

The 20-day Bollinger band curve shows that the hourly LTC/USD market is still trending over the SMA 20 curve.is trending in the neutral zone.
The bears and bulls are canceling each other out as the relative strength index (RSI) curve

Key Levels

Resistance 3: $50.6432
Resistance 2: $48.8978
Resistance 1: $47.3288
Pivot Point: $45.5833
Support 1: $44.0143
Support 2: $42.2688
Support 3: $40.6998

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.