LTCUSD
Last week, the cryptocurrency market saw a notable uptick, and Litecoin (LTC) investors were among those who profited from this positive shift. The LTCUSD exchange rate climbed to a formidable resistance point at $71.15. This upward movement prompted bears to increase selling pressure, culminating in a long wick candlestick pattern on the final day’s candle.
The Relative Strength Index (RSI), an essential technical indicator, is approaching the overbought zone. But it’s not just about the RSI nearing this zone. The indicator is displaying a significant divergence, often an indication of a trend shift or a deceleration in the bullish bias. As a result, we anticipate LTCUSD to adjust its recent gains and maintain its price above the pivot point of $64, unless the LTCUSD bulls can surpass the $71 resistance in the forthcoming session. (source)