Altcoin in the last 24 hours Litecoin $88.41(LTC) price remained under the pressure of the bear market by maintaining a decrease trend. This trend coincides with the fact that Altcoin points out that the negative market sensitivity of the Bollinger bands may continue for a while. In Altcoin, technical indicators generally return in favor of bears, while some investors LTCBased on the June performance in the past years, he hopes that there will be a recovery in the near term.
Significant decrease signs in Litecoin’s technical indicators
Litecoin priceThe fact that the 20 -day moving average (middle band) in the Bollinger Bands is interpreted as a strong indicator of the negative atmosphere in the market. This movement reveals that the sensitivity throughout the market is in favor of sellers.
If the current trend continues and there is no factor that will lead to a change. LTC priceIt is expected that it may fall further. According to the Bollinger bands, this wave of decrease can draw LTC up to $ 83,19. However, Litecoin receivers will have to create a strong resistance to prevent this scenario from realizing.
The fact that the price tests the support of $ 88 and the partial recovery to the current level by finding a temporary support at this level indicates that some buyers show interest at this level, but the general technique still seems negative. The decline in volume shows that the participation in this decrease movement is limited.
The hope of recovery in the light of historical data
Litecoin’s current negative appearance is the opposite of the 12 percent one -day leap in May. At that time, despite the delays of the US Securities and Stock Exchange Commission (SEC) Spot Litecoin Stock Exchange Investment Fund (ETF) applications, the price of LTC managed to increase over $ 90.
In spite of the last decline, some Litecoin investors expect a recovery based on historical trends. Data show that Litecoin has achieved an average growth of 8.86 percent in June in June. This average growth rate in case of repetition of history Ltc coin It can take its price to approximately 97.17 dollars.
However, it should be remembered that past performance is not guaranteed for future results. The negativity of the existing technical indicators and the general market conditions create uncertainty about the historical average.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
