Litecoin Weekly Price Analysis – April 14 $LTC

LTCUSD Long-term Trend: Bearish

Distribution territories: $150.00, $160.00, $170.00.

Accumulation territories: $110.00, $100.00, $90.00.

Like other digital currencies, LTCUSD pair also experienced a slight spike in price action but in a range bound formation. The hike in the price action was almost the same as the one experienced on April 3rd. The 50-day moving average is still above the 13-day moving average while the bulls have slightly breached a bit past the trend line this same moving average. Stochastic Oscillators have also crossed from the below and not too away from 50 range around the oversold zone and as well points northward.

In spite of all these indications, price has not been accumulating the strong catalyst to have suggested the resumption of a bullish market. Almost in the same assumption just like last week, LTS/USD still shows some strong accumulation territory areas of $110.00, and $100.00. Traders can experience some pit stops in those aforementioned accumulation territories as they symbolize significant foundational territories. However, price action on LTC/USD could also result in a ranging trend or outlook in the next few weeks.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

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