LTCUSD - 1D Chart Analysis
Following the rest of the coins, Litecoin's price has started it's sideways movement since the 11th of August, surrounding the Pivot Level of 58.3$.
For now, as long as the opening price for today is positioned below the 20 days Moving Average the next key moment can be considered the closing one at the end of the day. If the latter will be lower than 59.072$, we'll see a red candlestick which can be considered a confirmation of an eventual short term downtrend.
While the RSI has a neutral position, the Stochastic and MACD are indicating that the price sliding may continue and the next possible target prices are 56.426$ (Support Level 1) and 53.007$ (Support Level 2) in extension.
For now, as long as the opening price for today is positioned below the 20 days Moving Average the next key moment can be considered the closing one at the end of the day. If the latter will be lower than 59.072$, we'll see a red candlestick which can be considered a confirmation of an eventual short term downtrend.
While the RSI has a neutral position, the Stochastic and MACD are indicating that the price sliding may continue and the next possible target prices are 56.426$ (Support Level 1) and 53.007$ (Support Level 2) in extension.
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