LTCUSD Long-term Trend: Bearish
Distribution territories: $150.00, $170.00, $190.00.
Accumulation territories: $80.00, $60.00, $40.00.
The value of USD dollar appreciated against the market value of Litecoin. The pair was notably in a raging outlook throughout this last week. The crypto asset, like many other crypto assets, witnessed a significant decline in value on June 10. The decline went on to break last week’s accumulation territory of $100.00, towards the accumulation territory of $90.00.
The bears have been able to drive the market below the strong accumulation territory of $100.00 as the bulls failed to grab market advantage. The 13-day SMA is below the 50-day SMA. The price action is currently averaging below last week’s accumulation territory of $100.00.
The Stochastic Oscillators have moved slightly below range 20. They are now facing northward a bit below range. Litecoin could possibly start to experience a series of both short bullish and bearish Japanese candlesticks around the accumulation territories of $100.00 and $80.00. The bulls will need a strong upward price movement to simply sign their eventual re-occurrence in the market. Traders can patiently wait for a bearish price action to decently reverse before taking a long entry.
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