The price of Litecoin [LTC] it has been largely in a downward spiral, breaking many of its crucial resistance levels while prices continue to decline. However, it is possible to get some relief in the short term for the price, as the technicians indicate a recovery in favor of the bulls.
The short-term outlook shows an upward trend from $ 27 to $ 31, with a slight downtrend from $ 35- $ 34- $ 33- $ 31. There are supports set at $ 31 and $ 27, with levels resistance presented at $ 35 and $ 37.
The RSI was recovered from the oversold area.
The MACD is set for a bullish crossover, as seen from the two lines that begin to draw together.
Bollinger Bands have expanded since the recent fall, demonstrating further volatility in Litecoin's markets.
The long-term prospects of Litecoin show a short rise in support from $ 29- $ 31, with a downtrend from $ 125- $ 55- $ 33. It's a $ 28 support, with a resistance to $ 62 and $ 101.
The Awesome Oscillator is bullish, seen from the emergence of green lines from the downward trend.
The Relative Vigor index is showing a bullish crossover but appears to be set for further downward movement.
The parabolic SAR is bullish, with the points starting to emerge from the bottom of the candlesticks.
The currency appears to be awaiting further upward movements, with indicators that support the bull above the bear. With both short- and long-term outlooks ruling in favor of the positive movement, resistance levels of $ 35 and $ 37 could be tested.
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