Litecoin News Today – Litecoin LTC Started a Minor Price Recovery But the Bulls Aren’t Ready to Return – May 28th, 2020

Litecoin LTC started a minor price recovery

Litecoin LTC is showing slow progress on the day

The SMAs show that a bearish pattern is still possible

Litecoin news today – Litecoin has been hit by the bears in recent weeks. The coin currently lacks momentum. It needs to sustain its price action above its recent dip before any realistic move to the upside. The currency is currently showing slow progress while the overall market is moving sluggishly as well. The LTC/USD pair requires a stimulus to help push it’s price upwards. The current state of the market shows that a quick bullish breakout is out of the question. Litecoin price rallied by 3.79% yesterday. It managed to reverse the 1.61% decline from the day earlier. Yesterday LTC rallied from an early morning intraday low $42.23 to reach a late afternoon high of $43.98.

Litecoin News Today – Litecoin is Looking for Room to Move Further Upward $42.43

The Litecoin price broke through its first major resistance at $42.98 and its second major resistance at $43.66. After which it pulled back. The pullback saw LTC’s price fall back to its second major resistance at sub-$43.30 before finding support much later. The final hour rally ensured that the price of Litecoin breaks back to its second major resistance area to end the day’s session at $43.8. As of when this content was published, Litecoin was trading to the downside by 0.41%. A bearish start to the day saw Litecoin fall from an early morning high $43.86 to a low $43.65. Litecoin price left its major support and resistances untested. The coin needs room to move its price to the upside (to $42.43 precisely). The coin has initiated a slow price recovery after hitting bottom with a high bearish bias. LTC/USD is currently forming bearish candles ahead of its crucial support. A couple of days back, the coin found support at $41.82.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$43.78

Litecoin Price Prediction – Litecoin LTC is in a Minor Recovery

At press time, the price of LTC has started a slow recovery of its 6% loss from its valuation since the day earlier, May 27. Over the last 48-hours, the price of Litecoin was consistently consolidating at the 38.20% fib retracement level. The LTC price is currently approaching the same area which can also act as a resistance point. Here, the digital asset holds a conflicting picture considering the state of the technical indicators. The price of Litecoin is currently below the 200-day Exponential Moving Average which is a negative spell. Meanwhile, the MACD indicator for LTC/USD is in the bullish area. Meanwhile, the SMAs are in a bearish position. The Bollinger bands are not showing any signs of volatility.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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