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.
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