LTCGBP unable to break through key resistance level

Litecoin/GBP Index (LTCGBP) Technical Analysis Report for Sep 15, 2018

Highlights

LTCGBP unable to break through key resistance level
LTCGBP closes within previous day's range
LTCGBP ends the day indecisive

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

LTCGBP ended Saturday at 43.25 edging lower £0.27 (-0.62%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for LTCGBP

Volatility

Saturday's trading range was £1.77 (4.1%), that's slightly below last trading month's daily average range of £2.14. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 44.07, the cryptocurrency closed below it after spiking as high as 44.56 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Litecoin/GBP Index

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