LTC/USD undecisive as where to go next

  • LTC/USD is not seeing a lot of price action today and had a pretty indecisive day on June 17 as well.
  • Litecoin is trading at $44 at the time of writing.

The seventh-largest cryptocurrency by market capitalization is slowing down significantly over the past three days. Trading at $44 currently, bulls are far from the daily 12-EMA at $44.63. LTC got rejected yesterday on June 17 from both the daily 12-EMA and the 26-EMA. 

LTC/USD daily chart

Litecoin is currently in a downtrend and will need to break and close above the daily 12-EMA at $44.63 and the 26-EMA at $44.92. Both EMAs have crossed bearishly and the RSI is close to oversold again. On June 15, Litecoin formed a decent bullish reversal candlestick but failed to get any continuation. 

For support, bulls are looking at $43, the low of June 17, $41.75, the low of June 15, and $41.45. Besides the daily EMAs, there is an established resistance level at $47.17. 

LTC/USD technical levels