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Litecoin LTC price takes a dip to $53: What to expect?

Litecoin LTC price takes a dip to 53 What to expect

Litecoin LTC price has been beaten, thrashed, and on top of that, the parent company Litecoin Foundation is facing financial issues. Despite all the issues, Litecoin LTC just cannot give up, and the price chart struggle is tantamount of the journey.

Litecoin LTC price chart 1 - 22nd October 2019Litecoin LTC price chart by Trading View

Litecoin price is seeing some correction towards the fifty-two and fifty-three dollars ($52-$53) mark in a dip that’s taking the LTC price back to point it started on the 18th of October.

Litecoin price analysis reveals that the cryptocurrency is in a long term sway and can settle either way depending on whether bulls or bears hold the control.

Litecoin LTC price movement: What to expect?

The Litecoin LTC price is stuck between the twenty-day exponential moving average and fifty dollars ($50) range, continuing to tense further. This indicates the lack of play on the part of both the bulls and the bears.

Litecoin LTC price chart 2 - 22 October 2019

In case the price decreases to a price of forty dollars ($40), it will be indicative of a bearish market. The bears hold the throne as the exponential and simple moving averages are negative, and the relative strength index also lies in the negative range.

In case the defiance area is scaled up, the Litecoin/Dollar pair can travel upwards to eighty dollars ($80.2731). The first indication of a shift in trend will be the end to the downward gradient of the falling wedge and the fifty-day simple moving average.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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