LTCUSDT On April 26, Litecoin experienced a highly volatile day, with both bulls and bears attempting to seize control but ultimately failing.
Following such a large volatile day, a period of range contraction typically ensues for a few days. The fact that the moving averages are flat and the RSI is just below the midpoint suggests that the LTC/USDT pair could move sideways in the short term, oscillating between
85 and $96.A breakout above
96 or below 85 would signal the start of the next trending move. If bears manage to push the price below 85, the pair may drop to $75. Conversely, if the bulls take control and drive the price above 96, it could open the door for a possible rally towards $106.Let me know what you think!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.