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- The LTC coin is recovering with a slow uptrend over the daily and hourly graph. As the signal is not strong the movement may change anytime.
- The price surged 40% in a week. Signs of relief for LTC investors.
- The LTC/BTC pair is at 0.002668 BTC with a loss of 1.01% in it.
The LTC price after a strong downtrend movement is now trying to recover over the daily chart. The bulls have helped the coin to recover and the price is currently trading above the exponential moving average. This recovery is not enough as the price is still moving quite low as compared to its all time high. The LTC price is currently at a very slow uptrend movement, as the signal is not very strong the bears can reverse the trend any time so the investors need to take care of it before making a move. The price is moving significantly above the exponential moving average.
The current price for one LTC coin is trading at $55.23 with an insignificant loss of 0.32% in its market capitalization in the last 24 hrs. The coin has trading volume of 606 million which is at a loss of 6.06% in the 24 hrs trading session and a market cap of 3.9 billion. The volume market cap ratio is 0.1558.
LTC Price Surged 40% in 7 Days
LTC bulls are making efforts which resulted in growth of 40% in price. Though the growth is not of much significance but still at this stage it is a sign of relief for the investors as the recovery has begun. As the signal is not very strong LTC investors should think before entering the market now.
Whereas the MACD indicator appears in support of a bullish rally as the MACD line moving above the MACD signal line with histograms going green. On the other hand the relative strength index is moving neutrally and same with the stochastic RSI. RSI value for LTC is currently above 45. Along with the Bollinger band moving neutrally. So as the technical indicators are not suggesting a directional move the investors must wait for some time to enter or exit the market.
ALSO READ – Bitcoin Is Going To Outlast All Of Us Says Michael J. Saylor
Conclusion
The LTC price after a strong downtrend movement is now trying to recover over the daily chart. The bulls have helped the coin to recover but as the signal is not very strong the bears can reverse the trend any time so the investors must take care of it. The technical indicators are not suggesting any clear move so investors should wait for a clear indication.
Technical levels
Resistance levels: $60.25 and $66.75
Support levels: $50 and $40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
