Litecoin Begins a Rally– May 25
The LTC/USD market begins a rally after seeing a significant drop in its values over a couple of days’ trading sessions recently. Meanwhile, the crypto market hasn’t intensified much-required efforts to capitalize on the rallying motion over some last hours until now as price trades around $174 at a rate of -5.92% reductions.
Begins a Rally: LTC Market
Resistance levels: $250, $300, $350
Support levels: $150, $130, $110
LTC/USD – Daily Chart
The LTC/USD daily chart shows that the crypto market begins a rally having briefly seen a breakdown of the lower support level of $150 during the May 23th day’s trading operations. Both the SMAs are still in a southward-bent posture to indicate that there are still somewhat of downward forces placing in the market. The bearish trend-line drew across the SMAs to the downside as the 14-day is over the 50-day. The Stochastic Oscillator is in the oversold region trying to open the hairs to the north direction.
Litecoin price begins a rally, will there be perfect upkeep?
There is a notable line of Litecoin that begins a rally taking its commencement around the formation of yesterday’s bullish candlestick that occurred from the depth of a downward pressure caused by the US Dollar. Having had that in place now, bulls are expected to muster catalysts to build up a buying wall from the support level of $150 or around it in the subsequent sessions.
As regards contrary to the upside trading sentiment, bears now have up to the mid-point of about in between the $200 and $250 to launch back forces against the current rallying move that Litecoin has begun on a gradual moving process. If the presumed sell-off situation at that point has to get on an intense, the previous lower trading level of $150 will most likely be going to be revisited. In the meantime, the present level could also good for investment time.
LTC/BTC Price Analysis
Weighing the level of the trading situation between LTC and BTC, it is depicted on the chart that Litecoin begins a rally as paired with Bitcoin after about two days that the bigger SMA trading breached to the south by the purchasing power of the counter tool. The 14-day SMA is located over the 50-day SMA. The Stochastic Oscillators are trying to open the hairs toward the north from the oversold region. That signifies that the base tool’s rallying against the counter instrument will soon materialize positively in the near time.
Remember, all trading carries risk. Past performance is no guarantee of future results.