LTC/USD Medium-term Trend:Bullish

Resistance:$124, $126, $128
Support:$120, $118, $116

Yesterday, June 6, price of Litecoin has been stable at the price of $120. However, the price of the asset is now trading above the $120 price level. It was assumed that if the bulls sustain hold on the $120 price level, traders can initiate long trades above the price level. Meanwhile, the MACD line and the signal line were above the zero line indicating a buy signal. Price of the asset was above the 12-day EMA and 26-day EMA indicating that the bullish trend was ongoing. Litecoin is presently trading at $122. 50 as at the time of writing.

Today, price of Litecoin is still in a bullish trend. The MACD line and the signal line are above the zero line indicating a buy signal. The bullish trend is ongoing because the price of Litecoin is above the 12-day EMA and 26-day EMA. Price of the asset is expected to rise to the high of $130 but it might face resistance at the price $125.

LTC/USD Short-term Trend:Bullish

On the 1-hour chart, price of Litecoin is in a bullish trend. The MACD line and the signal line are above the zero line indicating a buy signal. In a bullish trend , traders can buy at low and sell at high.

The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.

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