Technical Analysis for LTCUSD for 13th February 2023
Litecoin Breaks Lower, Pulls Back from Q1 2023 Highs at $102
Past Performance of LTC
Litecoin Technical Analysis
LTC remains in a tight range with caps at $102 and $90, respectively. As prices consolidate, moving away from the lower BB but still capped inside the February 9 bearish bar, aggressive traders can seek to unload on any attempt higher, mirroring their formation with the trend direction set last week. Despite the attempt higher over the weekend, prices remain below the 20-day moving average. This line has been the support line for the better part of the past three months. The cool-off follows a sharp expansion that saw LTC prices double from November lows.
What to Expect from LTC
Traders might be taking profits. As it is, LTC is bearish, and the bear bar of February 9 is important in the current candlestick arrangement. Losses below $90 would confirm sellers of last week, a development that may see LTC slide, an opportunity for aggressive traders.
Resistance level to watch: $102
Support level to watch: $90
Disclaimer: Opinions expressed are not investment advice. Do your research.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.