LTCUSD on a Losing Streak

LTCUSD CHART PRICE – LTCUSD DAILY

Litecoin has been losing ground to the USD, we see that 4 sessions ago a downtrend starters and could potentially continue for the rest of the week, after it hit its support level we thought it could have a reversal and go back to its resistance, however it continues to lose ground in today’s trading session, the relative strength index is at 44% which indicates that the downtrend could continue, at least until the rsi gets closer to 30%, the bollinger bands are opening up which means that we could have high volatility for this pair, the price is getting closer to the lower band and it trades slightly above the ichimoku cloud. After the price touches its support we would have to await for a breakout confirmation or a new reversal.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.