LTCGBP unable to break through key resistance level
Litecoin/British Pound Index (LTCGBP) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (LTCGBP as at Sep 15, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 6.08% and ETCUSD closing 3.28% higher. On the flipside the worst performer has been LTCUSD closing -0.21% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been ETHCNY surging 11.52% and KCSBTC closing 6.75% higher. The worst performers of the day have been ETHGBP tanking -8.43% and NANOBTC closing -5.24% lower. Read more