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Author Topic: Litecoin Lacks Bullish Momentum, Unable to Resume Upside Momentum  (Read 2129 times)

Offline MRM

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Litecoin Lacks Bullish Momentum, Unable to Resume Upside Momentum
« on: September 19, 2020, 02:11:30 PM »
Buyers have failed to scale above the $51 resistance in the last two weeks. This is given the overwhelming selling pressure above the $51 high.

The market failure to trend higher resulted in LTC’s range bound movement between $45 and $51. From the price action, the price is facing rejection at the 12-day EMA. The LTC will fall each time the price tests the exponential moving average. Sellers seem to have the upper hand as LTC falls to $48 at the time of writing.

Nonetheless, if sellers break below the $45 support, the market will decline and reach the $39 low. Meanwhile, the crypto is range-bound as the price continues its downward move. On the upside, LTC may rebound above $45 support if the support at $45 holds. In July, LTC rebounded above the support at $42 low.
Source: https://coinidol.com/litecoin-lacks-bullish-momentum/
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Litecoin Lacks Bullish Momentum, Unable to Resume Upside Momentum
« on: September 19, 2020, 02:11:30 PM »

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