According to the candlestick chart connected to the LTC/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], price consolidation is yet to conclude as a result of sellers and buyers being locked in a battle for domination. The daily RSI [for 14 periods] is at 40.52 which signifies that Litecoin has successfully ventured away from the oversold zone.
From 7th October onwards, the MACD line began soaring atop the signal line, thereby causing the histogram to go green. The Ichimoku Cloud shows no signs of a subsequent metamorphosis. Support lies near the $50.736 level, while resistance may be felt if LTC manages to surge towards the $67.4 mark. Post-29th September, all the peaks tied to the Awesome Oscillator were green, which points to the dawn of a trend change and prevalence of bullish momentum.
To all our Litecoin brothers and sisters out there… the summit is coming up and there are so many presenters you can’t miss. @CaitlinLong_ and @jonnylitecoin are at the tip of our list! Anyone heading out to vegas make sure you check them out! It’s a must! https://t.co/Yk2lG1bOmD
— PotCoin (@PotCoin) October 8, 2019
Litecoin is ranked at #5 to the south of Tether in the market. The trading volume recorded stands at roughly $2.293 billion while the supply has 63,428,117 LTC coins in play as of this very moment. The total market cap of Litecoin amounts to $3.659 billion. Litecoin dipped at a rate of 0.12% in the course of the past 24-hours; which brought LTC all the way down to $57.69 where it presently rests.
Based on its drawn-out decline post-halving, Litecoin may find support below $50 if further losses impact “Silver 2.0” within the next few weeks. However, a climb will help Litecoin head beyond $60 and reach all the way up to $75 unless bears decided to step up their activities. The Las Vegas Summit couldn’t have been scheduled at a more opportune time.
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