Litecoin (LTC) Price Analysis – October 31

  • The price of Litecoin ranges above $49 as the bulls and bears are undecided.
  • The pirce of Litecoin is likely to be in a bullish trend as the bearish pressure ends.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Ranging

Resistance Levels: $65, $67, $69                                                                                                                       

Support Levels: $47, $45, $43      

Yesterday, LTCUSD pair was making a bullish movement after the bearish trend. In the last 24 hours, Litecoin has remained without any significant price movement. In the lower time frame, the LTC price is moving horizontally in a range bound movement at the price of $49. From the daily chart, Doji and indecisive Spinning top candlesticks are forming at a price of $49.

The Doji and the small body candlesticks indicate that the buyers and sellers are undecided about where price will go.  Meanwhile, the Stochastic indicator is changing direction at the oversold area. The Stochastic indicates that the trend has reversed because the blue band is above the red band. What remains is for the bands to be out of the oversold area. The price of Litecoin is likely to be in a bullish trend.

 LTCUSD Short-term Trend: Ranging   

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View                   

On the short term trend, the price of Litecoin is in a sideways trend. The price action has remained the same in the last 24 hours. The bearish trend of Litecoin has been reversed has confirmed by the Stochastic indicator. The blue and red bands are out of the oversold area.

 

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