Litecoin Market Operation Hovers at $200 – October24
The LTC/USD market operation hovers around the level of $200. The economic percentage rate witnesses at -0.03 to trade around $196. It shows that the trade valuation is experiencing a slight reduction at a higher spot.
Market Operation Hovers at $200: LTC Trade
Key Levels:
Resistance levels: $220, $250, $280
Support levels: $160, $140, $120
LTC/USD – Daily Chart
The LTC/USD daily chart showcases that the crypto market operation hovers around the upper range line at $200. The 14-day SMA trend line is above the 50-day SMA, slightly pointing toward the north. The lower range line drew alongside the $150 support line. The Stochastic Oscillators have traveled southward to touch the range line at 40. And they now try to close the lines at the range value line. That indicates that the market activities are possibly going to relax actions for a while.
What could be the next price direction as the LTC/USD market operation hovers at $200?
At this point, there has been no reliable signal to denote a probable price direction of the LTC/USD activities as the crypto-economic market operation hovers around the higher range line at $200. There may be low-active pushes to the downside closer or around the smaller SMA trend line so that price can find support to re-build catalyst. While that assumption plays out with violent motions, the value line mentioned earlier will breach northward to have more ideal upsides in the crypto’s price valuation.
On the downside, as it has depicted that the market operations feature in range-bound zones, the LTC/USD market bears would have to strategize by being on the lookout for a false forceful breakout at $200 level before considering a sell position. While in the continued hovering situation of the price around the upper range line, indecision tends to dominate the market trading arena for some trading days’ sessions.
LTC/BTC Price Analysis
In comparison, the LItecoin market trending capacity is currently struggling to push against Bitcoin. The duo-crypto-economic market operation hovers at a lower trading zone around the smaller SMA. The 50-day SMA indicator is above the 14-day SMA indicator. The bearish trend line drew close beneath the smaller SMA trend line. The Stochastic Oscillators are in the overbought region, attempting to close the lines in it. That suggests that the base trading instrument may debase, pushing further against the trending capability of the flagship counter crypto in the near time.
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