LTC/USD drops after charting death cross pattern

Fibo Quantum

  • LTC/USD had a slightly bullish Tuesday wherein it went up from $39 to $39.18.
  • Both the MACD indicator and Elliott Oscillator shows sustained bullish sentiment.

LTC/USD daily chart

LTC/USD has dropped from $39.18 to $38.75 and is barely floating above the SMA 20 curve. This followed a slightly bullish Tuesday where the price went up from $39 to $39.18. The SMA 200 has crossed over the SMA 50 to chart the heavily bearish death cross pattern. The 20-day Bollinger jaw has narrowed considerably to show decreasing price volatility. Both the MACD indicator and Elliott Oscillator shows sustained bullish sentiment, while the RSI indicator is trending horizontally around 43.75.