LTCUSD Long-term Trend: Ranging
Distribution territories: $180.00, $200.00, $220.00.
Accumulation territories: $100.00, $80.00, $60.00.
Litecoin is ranging in the long-term. The pair is trading between the upper distribution territory at $183.07 and the lower accumulation territory of $129.13. The pair is below both the 50 and 13-day SMAs.
Bullish attempts to push its price from the accumulation territory of $129.00 are currently ongoing. The bulls’ strong momentum from a comeback at the accumulation territory is reflected in bullish candles that are touching the 50-day SMA.
The Stochastic Oscillator is in the oversold region at 17.05 percent. The market isn’t showing signs of rejecting the price’s upward move. Hence the pair is like going to move to the upper distribution territory. More bullish candles are likely in the long-term, which will bring Litecoin to the distribution territories in the days ahead.
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