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    Baxia Markets
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    June 16, 2022

    Litecoin hits Lowest level since 2020

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    The cryptocurrency put an end to an eight-day losing streak after it reached the $40.37 level, its lowest in almost two years. The short and long-term moving averages are diving and even then, the price is still under both MA’s strengthening the Sell signals; although the price might have reached its lowest point for now.

     

    The Bollinger bands are wide and volatility should be higher in the upcoming trading sessions, the pair is currently trading close to the lower band, suggesting that the price is relatively low, which could push investors to start placing long positions and boost the price up.

     

     

    LTC June 16th 2022

     

    The relative strength index is at 29%, which is within the oversold status, it might get above 30% in the short term once the price starts climbing again; however, the support level could be tested once again. Our parabolic SAR indicator suggests that the price is likely to continue falling.

     

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