Baxia Markets
November 19, 2021

Litecoin is down more than 27% in four sessions

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The cryptocurrency spiked in early November, where it reached its highest level since May; unfortunately, the last few days have not been on Litecoin's side, where it has lost more than 27% in only four days.


The Bollinger bands are very wide, although they are closing up at the edges, we will likely have high volatility in the upcoming trading sessions, the pair is trading in between the bands, which is a relatively fair level based on this technical indicator. The price traded above the upper band just six sessions ago, this aggressive pullback was somehow expected, but not to the extent it's showing.


Litecoin Nov 12th 2021


The relative strength index is currently at 43%, the lowest it's been since the end of September, the crypto is currently testing the support level at our 50% Fibonacci retracement on 199.624, so far the support is working, but we will have to wait and see how the price behaves at the end of this session to make a trading decision.


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