BeInNews Academy Ltd © Street: Suite 1701 – 02A, 17/F, 625 King’s Road, North Point. Hong Kong.
On May 27, theprice reached a high of $122. Similar highs were reached on May 30. The LTC price has been decreasing since.
In this analysis, we examine the Litecoin (LTC) price alongside technical indicators to determine whether the price is more likely to continue falling or rebound.
On May 27, the price reached a low of $109.9. A gradual increase ensued and the price reached a high of $121.0 on May 30. Since then, it has been gradually decreasing, trading inside the descending channel outlined below:
At the time of writing, the Litecoin price was trading close to the support line of the channel. On Jul 4, it made two lows near $98, before beginning short upward moves.
Will the LTC price rebound or are more decreases in store? Let’s take a look at some technical indicators
The Litecoin (LTC) price is analyzed alongside the RSI and the 10- and 20-period moving averages (MA) below:
Do you need trading guidance during this Coronavirus outbreak? BeInCrypto is here to help! Join our Telegram Trading Community for Market Updates, exclusive Trading Signals and a FREE Trading Course! Images courtesy of Shutterstock, Trading View and Twitter.