• The bullish structure remains intake in both the medium-term and short -term.
• Sellers may change the trend of the market in the nearby days.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $80, $90, $100
• Support Levels: $35.00, $25.00, $15.00
LTCUSD remains in a bullish trend zone. Bullish momentum at $79.17 in the upper resistance area is high during yesterday’s session.
A bullish spinning top hammer candle opens today’s market at $77.36 in the resistance area.
Reactions from the bulls further the price of the coin up to $78.37 in the resistance area.
The formation of a bullish hammer in the resistance area is an indication that the price of the coin may likely encounter a trend reversal, as the price is below the EMA 9.
The stochastic signal pointing up at around level 50% indicates that the momentum in price of Litecoin is in an uptrend in the medium-term.
LTC/USD Short-term Trend: Bullish
The cryptocurrency continues in a bullish market in its short-term outlook. The 4-hourly candle opens today with a bullish spinning top hammer at $77.36 in the resistance area.
The formation of the spinning top hammer candle signals a trend reversal hence bears brief returns and drops the price down to $75.61 in the support area.
Price of Litecoin is initially up at $77.84 due to bulls’ brief return in the resistance area above the two EMAs. This suggests an uptrend in the price of the coin.
The stochastic signal pointing up at around level 82% in the overbought region implies that the momentum in price of the crypto is in an uptrend in the short-term.
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.
