Home Litecoin LTC stuck between 21 and 50-DMAs, lacks clear directional bias

LTC stuck between 21 and 50-DMAs, lacks clear directional bias

2 min read

  • Battle traces well-defined for the LTC/USD merchants on the every day chart.
  • A possible Doji candlestick charted with impartial RSI.
  • Litecoin awaits a powerful catalyst to find out the following course.

Following Friday’s strong rebound from multi-day lows of $123, Litecoin (LTC/USD) lacks a follow-through bias, because the bulls and bears get right into a tug-of-war this Saturday.

On the press time, the digital asset trades little modified on the day close to the $137 area, unable to discover a clear course whereas awaiting a recent impetus to interrupt by way of the latest buying and selling vary.

LTC/USD: Vary play more likely to lengthen

LTC/USD: Each day chart

LTC/USD has fashioned a possible Doji candlestick on the every day timeframe after Friday’s bounce, suggesting that the worth looking for a transparent course for its subsequent transfer.

The value wavers between the 21-day shifting common (DMA) and 50-DMA, with the 14-day Relative Energy Index buying and selling flat on the midline. The technical image, subsequently, factors to indecision.

Solely a convincing break above the 21-DMA barrier at $152 might revive the restoration momentum from eleven-day lows.

In the meantime, the sellers want acceptance beneath the 50-DMA at $124 to renew this week’s downward spiral from close to $166 ranges.

Ought to the promoting stress intensify, a breach of the $100 degree turns into inevitable. The subsequent vital help is aligned on the upward-sloping 100-DMA at $94.87.

LTC/USD: Extra ranges to think about


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