• Litecoin is in consolidation in the medium-term and bullish in the short-term.
• Bulls remain in control of the crypto.
LTC/USD Medium-term Trend: Ranging
• Resistance levels : $70, $80, $90
• Support levels: $20, $10, $9
The crypto continues to trade in consolidation in its medium-term outlook. $46.22 in the resistance area is attaining as high during yesterday’s session.
Today’s daily opening candle at $45.79 in the resistance area is bullish as the bulls remain dominant in the market within the range.
LTCUSD increase further to $46.79 in the resistance area. Price hovers around the two EMAs, this indicates an undefined trend in the context of the market. The stochastic oscillator signal pointing down at level 85% suggests that the coin may likely encounter a change in trend in the nearby days.
LTCUSD is in consolidation and trading between $84.80 in the resistance area and at $24.53 in the support area of the range.
Traders need to take caution before taking a position in the medium-term.
LTC/USD Short-term Trend: Bullish
The coin is in an uptrend in its short-term perspective. The impulsive move by the bears at the support area at $44.09 during yesterday session is now corrected as the bulls take over the market and move the price up to $46.22 in the resistance area before the close of market.
The 4-hourly session opens today at $45.79 in the resistance area with a bullish candle.
The momentum in price continues in an uptrend as the cryptocurrency journeys up north around $46.54 in the resistance area.
Price is above the two EMAs and the stochastic signal pointing up at around level 80% in the overbought region suggests that the price of Litecoin in the short-term outlook is in an uptrend, hence buy signal.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
Credit: Source link