Baxia Markets
February 07, 2022

Litecoin on a 5-day winning streak

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The cryptocurrency managed to make 18% in the last five trading sessions. The pair is looking to reach the resistance level at $143.72 but it could find retracement before that happens. 


The Bollinger bands are closing up which would bring lower volatility, the pair is trading closer to the upper band which indicates that the price is close to being considered relatively high. Litecoin trades above the short-term moving average and it is getting very close to passing the long-term moving average, which would indicate that the uptrend could continue.


Litecoin Feb 4th 2022


The relative strength index is at 54% which would allow the price to continue climbing before a potential pullback. Our parabolic SAR indicator suggests that the price will continue the uptrend in the short term.


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cryptocurrency, trading conditions, technical analysis, trading indicator

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