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    Baxia Markets
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    February 12, 2022

    Litecoin is down 9.6% in two sessions

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    The cryptocurrency found a strong resistance on our 23.6% Fibonacci retracement at $143.

     

    The Bollinger bands are opening up and starting to point upwards, which is often a good indicator of an uptrend, the pair traded above the upper band, which is one of the reasons for the drop, the price could fall a bit more before making a new resistance breakout attempt.

     

    Litecoin Feb 11th 2022

     

    The relative strength index is at 50% which is neutral, this would allow the pair to move in either direction in the short term, the pair trades below the long-term moving average, but above the short-term MA. Our parabolic SAR suggests that the price will go up, however, this is a lagging indicator, the price could find support at $120 before it starts climbing.

     

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