LTCUSD Finds Resistance at 51.05

LTCUSD CHART PRICE – LTCUSD DAILY

Litecoin has been unable to break the resistance in more than 11 trading sessions, the price was picking up the pace but had a bad trading day during the weekend, the following day it made some progress but has been unable to consolidate an uptrend, the Relative Strength Index is at 40%, it has been oscillating between 35 and 45% since September 4th, we see that the bollinger bands are wide suggesting high volatility, however we have not seen much of it yet, the moving averages indicate a downward trend due to the losses from early september, if the price is able to break the resistance at 51.05 then we would expect the price to go up, however it is getting further and it’s hard to tell when this could happen with the price ranging between 45 and 51.

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.