/ latest version 2018/08 / litecoin-ltc-long-term-price-analysis-2 /
Litecoin (LTC) Long-term price analysis
litecoin-ltc-long-term-price- analysis -2
LTCUSD Long-term trend – Bearish
Territory distribution: $ 100, $ 120, $ 140.
Accumulation territories: $ 70, $ 50, $ 30.
Bears have influenced significant price of Litecoin this week. Since July 24, while the price of the crypt was higher than that of the 14-day SMA and pushed further north to touch the 50-day SMA, it continued to suffer a series of declines. The cryptocurrency has continued to decline and now appears to be pushing down once it was experimented on June 28th and July 10th.
Litecoin Chart of TradingView
The two SMAs are moving a little above the $ 80 accumulation territory. The price has been trading under the two SMAs in the last two days. The stochastic oscillators have traversed and moved to touch the radius of 20, but still indicate the south.
This suggests that the downward trend is still at stake. You may need to briefly push the crypt further south to start recovery. However, the bulls will have to rely on any correction that may occur. Investors may have to wait for an upward breakout to engage in good long items. Traders may expect the price to push a little south to start a purchase order
The opinions and opinions expressed herein do not reflect that of CryptoGlobe.com and do not constitute an advice financial. Always do your research.