LTCEUR dominated by bears dragging the market lower throughout the day
Moving lower for the 2nd day in a row, LTCEUR finished Saturday at 48.91 losing €2.88 (-5.56%). Today's closing price of 48.91 marks the lowest close since November 6, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 51.15, the cryptocurrency confirms its breakout through the previous session's low having traded €2.58 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Saturday's trading range was €3.26 (6.29%), that's slightly below last trading month's daily average range of €3.87. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Litecoin/EUR Index
|Down Close Near Low of Period||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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