The entire crypto-market has been strong correction, making it extremely volatile. The market's altcoins have been trying to recover from the fall, attemps that have led to an indecisive market trend.
Litecoin have been following this recovery trend and may continue to do so even in the near future
Litecoin market was nothing a gradual price rise, however, the recent corrections had pushed the profits lower. According to the above chart, the overall gains of LTC investors since the beginning of the year have remained at 0.75%. Right now LTC was being traded at $210.24
The resistance was marked close to $238.86 and the support level remained at %168. The growing gap between the BOLLINGER BONDS was pointing to a rise in market volatility. This could result in another wild price movement, however, since the Signal Line took over the candlesticks, the outcome could be bearish.
The Relative Strength Index also noted that the low price could be maintained as the selling pressure has remained high, when LTC price crubled, the RSI touched the oversold zone and bounced back. At press time, it was at 37, suggesting that the sellers have maintained a dominant position with the momentum also supporting the low value.
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