- Litecoin price hovers around $35 as stability takes center stage in the cryptocurrency market.
- The Bollinger Band lower curve holds strongly as support above $30.
- A possible triangle breakout still lags but targets levels at $40 towards $60.
Spot rate: $34.47
Relative change: 0.2382
Percentage change: 0.72%
Litecoin daily chart
Buyers are doing their best to create and embrace the balance between $30 and $35. This will allow them to channel their journey towards breaking the resistance levels at $40 and $60 respectively.
The MACD shows that bearish pressure cannot be ignored as its influence is still apparent especially with the indicator featuring a bearish divergence.
LTC/USD 1-hour chart
The RSI exhibits the same signs of stability which could last throughout the Asian session and even the European session unless technical levels make a drastic change.
The 50 SMA is offering immediate support while the 100 SMA is standing in the line of growth slightly above the market value ($34.47).
A tentative breakout from the formed symmetrical triangle breakout could eventually blast Litecoin price into the trajectory targeting $40 and $60 resistance zones.