LTC Price ‌Analysis: Litecoin Token struggling To Hold 20-DMA line

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  • Litecoin token over the monthly chart is trying to sustain above 20-day moving average after a long time horizon. 
  • The crypto asset is trading below its major moving averages of 50, 100, and 200-DMA while holding its SMA of 20-day.
  • The pair of LTC/BTC is trading under slight pressure at 0.003498 BTC with an intraday loss of -2.04%, and the ratio of LTC/ETH is CMP flat at 0.059 EAT with a slight loss of -0.17%
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Litecoin token at the monthly chart is trading on bearish momentum for the past few trading sessions. The coin continuously faces rejection of the 20-day moving average line (red) but now starts to sustain above 20-DMA lines. 

Volume over the monthly chart is slightly increased and needs to improve more to suppress its 50-DMA line. Presently the crypto asset is trading below its major moving averages of 50, 100, and 200-day while struggling to hold the 20-DMA line. The closing or sustaining above 20 and 50-DMA lines with good volume activity will push more buyers in upcoming trading sessions. Support on the lower side is $118 and $104, whereas resistance on the higher side is $149 and $168. 

Litecoin token is trading on a bullish note 

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Over the weekly, Litecoin token is trading on a bullish note while making lower lows and lower highs. However, the crypto asset is now facing slight selling pressure at higher levels, and a short-term pullback is expected. Volume over the chart increases and jumps above its average volume line. Presently, the Litecoin token is trading at $129 with an intraday loss of -6.40%, and the volume to market cap ratio is at 0.2213.

Relative Strength Index (NEUTRAL): Litecoin token RSI presently indicates a flat or sideways trend over the weekly chart. In contrast, the RSI is trading flat after testing the overbought zone and now CMP 53.    

Moving Average Convergence Divergence (CAUTION): This currently indicates a neutral or cautious trend on the daily chart. This is because the buyer’s signal line (orange) overlaps the seller’s line (blue) with no sign of clear momentum. 

Support levels: $118 and $104 

Resistance levels: $149 and $168.  

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