• LTCUSD is in a range-bound market.
• Traders need to exercise patience during this period.
LTC/USD Medium-term Trend: Ranging
• Resistance Levels : $70, $80, $90
• Support Levels: $30, $20, $10
Litecoin medium-term outlook continues in a range-bound market. The bear's exercise pressure at $44.22 in the support area during yesterday's session returns the cryptocurrency back within the range. LTCUSD drops to $41.56 in the support area.
The bullish candle at $42.30 in the resistance area returns the bulls within the range as the daily session opens today.
Price is up at $43.18 and revolves around the two EMAs in the resistance area, an indication of an indecisive market.
The stochastic signal pointing up at around level 50% indicates the price of Litecoin may likely encounter a change in trend in the future.
LTCUSD is ranging and trading between $84.80 in the upper resistance area and at $24.53 in the lower support area of the range.
Patience coupled with a retest is needed before a position is taken in the medium-term perspective.
LTC/USD Short-term Trend: Ranging
The coin is in a range-bound market also in its short-term perspective. The close of the candle with a wick suggests exhaustion of the bearish momentum hence the bull's brief return.
The 4-hourly session opens today at $42.30 at the resistance area is on a bullish note.
The bulls' pressure on the cryptocurrency pushes the price up to $43.19 in the resistance area.
Price revolves around the two EMAs and the stochastic signal pointing up at 44% indicates the crypto price may encounter a change in trend in the days ahead in the short-term perspective.
LTCUSD is ranging and trading between $47.51 in the upper resistance area and at $38.12 in the lower support area of the range.
Patience coupled with a retest is needed before a position is taken in the medium-term perspective.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
from BitcoinExchangeGuide https://bitcoinexchangeguide.com/litecoin-ltc-price-analysis-april-20/
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