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    Baxia Markets
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    October 05, 2021

    Litecoin ends a five-day winning streak.

    technical analysis top header -01

    The cryptocurrency managed to recover more than 21% in only five trading sessions before finding resistance at $176.974 in our 23.6% Fibonacci retracement.

    The Bollinger bands are closing up slowly, which can be a sign of price consolidation; we might see the pair close to current levels in the short term, we can already see the price has not changed much in the last four trading sessions.

     

    Litecoin Oct 1st 2021


    The relative strength index is currently at 52%, and it has remained steady for the last five trading sessions as the price has not moved significantly during that time. The price could move in either direction freely after the consolidation period is over.

    The parabolic SAR indicator suggests that the price will continue to move downwards; surprisingly, it did not change during the winning streak, which might give us a hint on where the price could move to next.

     

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