Baxia Markets
January 29, 2022

Litecoin continues moving sideways

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The cryptocurrency has not been moving much since it sank in previous sessions, the price is staying over the $100 mark but has not really made progress in the last four sessions. 


The Bollinger bands are wide and this will likely bring higher volatility, the pair trades closer to the lower band, suggesting that the price is relatively low, which could incentivize investors to place long positions.


The relative strength index is slightly recovering and it just left the oversold status, current RSI is at 32% which will allow the pair to continue moving up in the event of a rally. We estimate that the price will continue to move laterally as the markets are still undecided, in the mid-term we might be able to see more action for the cryptocurrencies.


Litecoin Jan 28th 2022


Our parabolic SAR suggests that the price will continue to fall in the short term, we would have to wait and see if the support at 102 is strong enough to hold the price.


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