Litecoin Showing Correction: Litecoin is trading at $86.3. Litecoin has dropped 4.3% in the last 24 hours and 2.03% in 7 days. This seems like other correction in the uptrend. Right now the price is trading near its first retracement level. Majority of the coin market is trading in the red. Price is moving near its support level. Globalexchange.
RSI is moving downward. Currently, RSI is at 50.04.Stochastic is also moving downward. Right now stochastic is at 50.2. Ichimoku cloud indicating bullish signal for the trend. Globalxchange. Conversion is above the baseline and almost flat. MACD is also showing a slowdown in the momentum.
Indicators are indicating loss in momentum of the bull run. For long-run trend is still bullish.
Globalexchange. According to the charts, the movement is bullish. Price is moving above the trendline. There are chances that retracement will continue. There are two support for litecoin at $84.79 and $74.78. If the price respects the support at $84.79 and bounces back then the target of $112.87 can be seen. Globalxchange. Otherwise, the price level of $74.78 can be seen. Positions should be taken after the retracement or the bounce back in the price.
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