Litecoin Token Still Looking Stronger, After Major Selloff

  • Litecoin token over the monthly chart is still looking strong despite major selloff from higher levels, as token holding major DMA lines. 
  • LTC technical structure indicates the stability of the token after a significant correction from the higher side and presently trading above 50, 100, and 200-DMA lines.
  • The pair of LTC/BTC is trading on a positive note at 0.003953 BTC with an intraday gain of +3.45%, and the ratio of LTC/ETH is CMP at 0.0525 ETH with an intraday loss of -0.37%.  

Litecoin token price at the monthly chart is trying to support its major moving averages of 50, 100, and 200-DMA lines. Despite the gradual recovery from lower levels, the coin does not have much volume action, creating divergence. LTC token fails to hold its short-term moving average of the 20-day line but manages to sustains above 50, 100, and 200-DMA lines.

Likewise, the sustainably above its 50, 100, and 200-DMA lines can further recovery in upcoming sessions. The medium to long-term trend is still favoring the bulls, although this recent dip until token sustains DMA as mentioned above lines. Support on the lower side is $165 and $147, whereas resistance on the higher side is $198 and $232. 

Litecoin token at the weekly chart is trading sideways

Litecoin token at the weekly chart is trading sideways, after a significant selloff from higher levels. At the same time, the technical parameters are also suggesting the range-bound action over the chart. Volume activity over the 4-hour time frame is still lower and needs to improve enormously for a strong recovery in upcoming sessions. Presently, the litecoin token is trading at $180.47 with an intraday gain of +5.92%, and the volume to market cap ratio is at 0.3171.  

Relative Strength Index (BULLISH): litecoin token RSI is presently trying to rebound after reaching the oversold zone. In contrast, the RSI is trying to move towards the higher area and bounce back from current levels, and now CMP is at 38.    

Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral with an upcoming bullish trend at the 4-hour time frame. At the same time, the seller’s line (orange) and the buyer’s signal line (blue) are at the point for positive crossover.   

Support levels: $165 and $147

Resistance levels: $198 and $232. 

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