Price analysis of Litecoin: the bulls must exit this narrow range to make significant gains

• Litecoin must leave the one-month bracket to make money.
• The LTC / USD technical indicators are still positive despite the correction of the bear.

Litecoin is still within the restricted range with limits at $ 2349 and $ 36.9 for over a month. The bulls do not realize that, unless they break from the resistance of the range, they will continue to suffer and the strong hold of the bear. The harshest recovery of the last month of 2018 failed to break resistance by opening the way for bears to push the lowest price.

The good news is that buyers have supported the price above simple moving averages on the 4-hour chart. Furthermore, the technical indicators applied to the same chart show the highest levels this year. RSI, for example, is currently facing overbought territory to show that bulls still have the greatest control. The MACD had renewed the trend and exceeded the middle line.

As long as the price can remain above the moving average, we could see Litecoin corrected higher than the immediate resistance at $ 35.00. A move beyond the resistance of the range will open the way to growth above $ 40.00. Meanwhile $ 30.00 is the key support while the lows exchanged in December at $ 22.23 will continue to function as main support.

LTC / USD Chart 15 & # 39;