The Litecoin price, a 4-hour chart can be made with a double dip because it can occur.
Technical indicators are currently showing mixed signals as sales pressure continues.
A break through the neckline of $ 70 can lead to a rally at the same height as the graph's formation.
100 SMA is greater than 200 SMA to suggest that the minimum resistance path is active. In other words, the upward trend is more likely to reverse. However, the gap is rather narrow, so that while moving averages remain as dynamic resistance, decline may be possible
In this case, another support test may occur around the $ 48 level. Sales pressure stronger could even stimulate a break below this level and a continuation of the long-term downtrend. A break above the moving averages could pave the way for a $ 70 test.
This will increase the double bottom point to $ 22, indicating that confirmation can lead to a rally at the same height.
However, the RSI rotates southward from the overbought zone to give a back pressure signal. Similarly, the Stochastic is heading south, so an increase in sales pressure is expected.
Since there was no negative report during the weekend, crypto currencies had a positive start for the week. In fact, the previous trading week ended with a note stating that the blocked chain industries could add $ 1 trillion to global trade in the next decade.
However, market players seem to be turning their attention to the interests of businesses and other mergers and acquisitions in space.