Litecoin rebounds to $58.58 but volume and MACD fail to confirm the move
- —LTC at $58.58; provider reports +3.95%, versus about +1.88% from the $57.50 prior close
- —Daily volume of $213.86 million is 21.88% below the 30-day average
- —Price holds above SMA-5 and SMA-10 but below SMA-15, SMA-30 and SMA-50
- —LTC is 85.77% below its all-time high and down 13.67% over 30 days
Why it matters: A rebound without volume expansion and with a bearish MACD does not confirm a trend reversal, so traders should wait for a close above nearby moving averages.
Source: DiarioBitcoin