Litecoin Gains 4.46% but Stays Below Four Short-Term Averages

Litecoin (LTC) gained 4.46% over a 24-hour period in an Oct. 16 snapshot to $60.92, but the rebound left the token below four short-term moving averages.

LTC’s listed 24-hour range was $57.85 to $62.01. The price was below its 7-day simple moving average (SMA) of $61.74, 20-day SMA of $65.88, 12-day exponential moving average (EMA) of $63.00 and 26-day EMA of $63.15. The session high also remained below the first listed resistance level, $62.67; the next was $64.42.

The longer-term averages were below the snapshot price. LTC stood above its 50-day SMA of $59.77 and 200-day SMA of $51.91. Listed support levels were $58.51 and $56.10.

Momentum readings were mixed. The daily relative strength index (RSI) was 44.01. The moving average convergence divergence (MACD) line and signal were both -0.1480, with a zero histogram; stochastic readings were 24.64 for %K and 19.71 for %D. Together, those figures did not provide clear momentum confirmation for the rebound.

A conditional scenario dated Oct. 12 set an entry at $65.83, a stop at $64.19 and a target at $67.52. Each level was above the later $60.92 snapshot price. The scenario described price conditions and does not establish that a trade or stop order was executed. The earlier Litecoin analysis covered the token’s prior rebound and nearby resistance levels.