LTCUSD - 1D Chart Analysis

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
After 5 days in which the market has slowed down, the price of Litecoin started to move sideways movement, between the minimum of 27.95$ and the maximum of 34$.

The RSI is slowly rising from the "oversold" area, the Stochastic has indicated a price increase since the 26th of November while the MACD seems to be close to crossing the Signal line which can be considered a confirmation of the slight uptrend.

If this scenario will get caught off and the price will also go above the Pivot level of 34.10$, the next level where it can have difficulties in moving even higher will be the Resistance Level of 39$.

On the other hand, if the price will fail to cross the Pivot Level, it is possible to see it going back towards the Support Level of 24.74$


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