Litecoin (LTC) Price Analysis (February 11)
• The cryptocurrency is in a bullish trend in both the medium and short-term outlook respectively.
• Bulls remain in control of the market.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $80.00, $90.00, $100.00
• Support Levels: $35.00, $25.00, $15.00
Litecoin (LTCUSD) is in an uptrend in its medium-term outlook. Yesterday, the price of the coin dropped to $73.98 in the support area due to the gradual return of the bears. The bears were resisted as the market opens today on a bullish note at $74.00.
The crypto’s price is initially above the two EMAs trading at the $74.88 in the resistance area, which indicates that price is likely to rise.
Meanwhile, the stochastic oscillator signal at the overbought region is an indication that the momentum in the price of the coin is likely to go upward in the future in the medium term.
LTC/USD Short-term Trend: Bullish
The coin is in a bullish trend in its short-term outlook. The bears' brief return led to a drop in price of the coin to $73.37 in the support area during yesterday's session.
The 4-hourly chart today opens on a bearish note at $74.00 in the support area. However, the price of the crypto is up at $74.88 due to the gradual returns of the bulls.
Price is above the two EMA’s and the stochastic oscillator signal pointing up at around 27% in the oversold region indicates an upward momentum in price of the coin. Hence, a 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.