LTCUSD - 1D Chart Analysis
Based on the market capitalization which has dropped below $200 Billion for the first time in November, we can see again the market having an aggressive movement with Litecoin being one of the coins which are leading the drop.
What can we see now from the technical perspective is the price which has reached the lower standard deviation of the Bollinger Bands registering an "oversold" position, confirmed by the RSI as well and 2 Support Levels which easily have been broken.
But on the other hand, we have no Stochastic crossover yet and also MACD is signaling that the "show" has just begun. Based on these 2 indicators, the decrease of the price has big chances to continue.
At this stage, It's doesn't seem unrealistic to expect a correction coming after this aggressive impulse, even if this one can be represented more by a short term sideways movement but the target price on the long run seem to be 39.39$
What can we see now from the technical perspective is the price which has reached the lower standard deviation of the Bollinger Bands registering an "oversold" position, confirmed by the RSI as well and 2 Support Levels which easily have been broken.
But on the other hand, we have no Stochastic crossover yet and also MACD is signaling that the "show" has just begun. Based on these 2 indicators, the decrease of the price has big chances to continue.
At this stage, It's doesn't seem unrealistic to expect a correction coming after this aggressive impulse, even if this one can be represented more by a short term sideways movement but the target price on the long run seem to be 39.39$
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