Home Featured LTCUSD Technical analysis on April 20, 2020: Bearish Engulfing pattern is Below $103.38

LTCUSD Technical analysis on April 20, 2020: Bearish Engulfing pattern is Below $103.38

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LTCUSD Technical analysis on April 20, 2020: Bearish Engulfing pattern is Below $103.38



Bulls couldn't keep control of the market last week, and after touching a high of $103.38 on 18 April, the price declined against the US Dollar, touching a low of $89.06 today in the early Asian trading session.

LTCUSD Technical Analysis on April 20, 2023: Bearish Engulfing Pattern Is Below $103.38

A bearish engulfing is present below the H1 handle at $103.38. It signals the end a bullish period and the beginning of a bearish one in the market.

The MACD is now below its moving average on the daily timeframe. Litecoin has also fallen below its pivotal level of $91,04 and is trading under its 200-hour ema moving average.

The relative strength indicator is 30.14. This indicates a very weak demand for Litecoin, and that the market continues to be under pressure.

Litecoin is still below all moving averages. This gives a bearish indication at the current market level of $90.37.

The STOCHRSI indicates overbought markets, meaning the price will likely decline in the near term.

The short-term outlook has become very bearish for Litecoin.

  • All technical indicators are bearish
  • Litecoin is reversing to the downside below $103.38.
  • The RSI is in a bearish trend.
  • The average true range indicates a low level of market volatility.

Below is a Litecoin Bearish Reversal.



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