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LTCUSD to see a slight downtrend(1D) | Upper band resistance

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BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Market in last 1 week
  • LTCUSD saw an uptrend with the price riding the upper Bollinger band and gap up in price completed
  • Price volatility was very high. The market moved ~37.85%, between $94.00 and $68.19
Today’s Trend analysis
  • LTCUSD expected to see a slight downtrend as the price is riding the upper band with Bollinger band moving upward and upper band resistance
  • Price at time of publishing: $86.77
  • LTC’s market cap: $5.722 Billion
  • Oscillator indicators are mostly neutral. RSI at 69 in the neutral region
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral with the Hull MA indicating selling opportunities
  • Volume indicators observed an increase as the price increased with the volume above the 20-candle moving average

Price expected to see a slight downtrend as the price is riding the upper band with Bollinger band moving upward and upper band resistance. Most of the Oscillator indicators are neutral. MACD line moving above the Signal line, histogram size decreasing in the positive region, suggesting a bullish bias. RSI at 69, in the neutral region with a pullback from overbought. CCI at 93, in the neutral region with a pullback from the overbought region. Another interesting point to notice here is that the volume observed an increase as the price increased with the volume above the 20-candle moving average indicating a strong buying pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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Comments

how low can it go?
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If you find the analysis useful, please like and share our ideas with the community!
Reply
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
Reply
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