LTCUSD Long-term Trend – Ranging
Distribution territories: $75, $95, $115.
Accumulation territories: $40, $30, $20.
Litecoin’s price dropped in value this week, although it’s still inside the range it has been keeping since early September. LTC entered the range on September 6, as both SMAs were floating around it. The bears have been trying to push LTC down out of the current range territories of $60 and $50 but haven’t succeeded.
The two SMAs are now very close, and are moving within and around the range. The Stochastic Oscillators have moved southwards towards range 20. It appears these ranging movements will have to continue around the $50 price territory for a while. Investors may consider buying between the $50 and $40 price territories while attempting to spot a decent entry point.
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