Cryptopolitan
2021-09-15 19:45:43

Litecoin price analysis: LTC not ready to move above $190

Litecoin price analysis suggests further sideways movementThe closest support level lies at $175LTC faces resistance at the $185 mark. The Litecoin price analysis shows that after falling to the $180.00 mark, LTC has observed a steep decline in its price volaility as the the asset observed little to no activity beyond the $170-$190 level. The main reason behind this consolidation is the speculation of traders which has caused the trade volume to plummet drastically.    The broader cryptocurrency market has observed a bullish sentiment over the last 24-hours as most major cryptocurrencies record a positive change over the period. Major players include AVAX and ADA that record a 12.00 and an 11.20 percent incline, respectively.  Litecoin price analysis: Low bullish momentum observed Technical indicators for LTC/USDT by Tradingview Across the technical indicators, the MACD is bullish, as expressed by the green histogram. The indicator exhibited a crossover on September 11 and has been bullish since. While the momentum increased in the first 24 hours after the crossover, the resistance at the $185 mark caused the price action to stagnate, and the momentum dwindled. Since then, the bullish momentum has remained very low suggesting low trade activity taking place. The EMAs are currently moving upwards, showing strong buyer activity at press time. However, the 26-EMA moves with a similar gradient suggesting an i...

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