LTCUSD Long-term Trend – Ranging
Distribution territories: $90, $110, $130.
Accumulation territories: $45, $35, $15.
Litecoin’s price is still in a ranging trend, although it made a visible price spike on September 27, to a bit above the upper territory of its range at $60. Right now, it’s still bound to ranging movements.
The crypto has been trying to push northwards against the bearish Japanese candlestick that surfaced in the market on Sept. 5. The 14-day SMA has conjoined the 50-day SMA from below as the price has been fluctuating around the territory of $60, a bit above the two SMAs.
The Stochastic Oscillators moved northbound to point north-east above range 60. Traders should be cautious before entering new positions. The cryptocurrency may enter a new range between the $70 and $50 territories in the next few days or weeks. Traders should look out for strong price movements that favor upward momentum.
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