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Litecoin LTC price movement unstable: LTC price gain 6 percent

Litecoin LTC price movement unstable LTC price gain 6 percent

The Litecoin LTC price chart doesn’t require an in-depth analysis to read the volatility in the Litecoin (LTC) price trend during the past five days.

However, despite volatility, Litecoin LTC price has managed to climb a little over six percent (6.02%) since the 17th of October level of fifty-one dollars ($51.45) mark.

Litecoin LTC price hit the five-day highest point at fifty-five and a half dollars ($55.50) mark on the 21st October, however, the price is a little below the fifty-five dollars ($54.95) mark.

Litecoin price chart 1 - 21 October 2019Litecoin price chart by Trading View

Litecoin LTC price movement: What to expect?

The past four days have indicated bulls holding the level at the fifty dollars ($50) mark, but have been unable to attain a strong recoil. This indicates that trade decreases at higher levels.

In case they are unable to increase the price above the twenty-day exponential moving average within the coming days, the bears will come to play.

Litecoin price chart 2 - 21 October 2019

Litecoin price chart by Trading View

The ginger slope movement alongside the relative strength index below fifty shows that it is the bears that have the playing hand. In case the support line ceases, there will be a further decline leading to the forty-dollar ($40) mark.

In case it does recoil, it may persist its stay at the current mark. A long position can be suggested after the breakout and sustenance beyond the fifty-day exponential moving average.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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