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    Baxia Markets
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    March 26, 2022

    Litecoin retraces 1.9%

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    The cryptocurrency continues the upward trend that started in mid-March, the price is finding temporary pullbacks along the way but continues moving up. The short and long-term moving averages are below the current price level, indicating that the uptrend is expected to continue in the short to mid-term.

     

    The Bollinger bands are wide and opening up, we would expect higher volatility in the upcoming sessions, which will allow the price to continue climbing after the pullback, the price trades closer to the upper band, suggesting that the price is relatively high; however, those retracements will help the pair gather strength to continue moving up.

     

    Litecoin March 25th

     

    The relative strength index is at 61%, giving the pair a little room to continue the uptrend in the short term, once the RSI gets closer to 70% we would expect to see another pullback to help the pair continue the uptrend. Our parabolic SAR indicator suggests that the price will rise in the upcoming sessions.

     

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