Baxia Markets
December 22, 2021

Litecoin consolidates at $150’s

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The cryptocurrency has not seen much action in the last 18 sessions, the price continues moving laterally and this could continue in the short to mid-term. The pair is slowly starting to move upwards, but there is no clear evidence that indicates an uptrend.


The Bollinger bands continue shrinking and the price remains almost unmoved, at least not what we are used to with cryptocurrencies, our Parabolic SAR indicates that the price will continue to climb, and the price is now trading above the short term moving average, which is a good indication of an uptrend.


Litecoin Dec 10th 2021


The relative strength index is at 45% which will allow the pair to continue moving up after the consolidation period ends. RSI has been very low in the last month, it has not gone above 50%. The price is still far from the next resistance level which is at 176.97 in our 61.8% Fibonacci retracement. The goal for Litecoin right now is to go above 167 and then aim for the 176 resistance 


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cryptocurrency, trading conditions, technical analysis, trading indicator

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