Litecoin (LTC) Price Analysis (February 12)
• The overall outlook of the cryptocurrency both in the medium and short-term is in a bullish trend.
• Bulls are in control of the market.
• Resistance Levels : $80.00, $90.00, $100.00
• Support Levels: $35.00, $25.00, $15.00
LTC/USD Medium-term Trend: Bullish
The cryptocurrency is in a bullish trend in its medium-term outlook.
$78.78 in the resistance area is the bull's target in the medium-term. with price above the two EMAs which are fanned apart. This suggests strength in the context of the trend and in this case the uptrend.
The bulls made a progressive movement to the north breaking the resistance line at $78.78 in the resistance area as it journeys up.
LTC is initially up at $79.90 above the two EMAs in the upper resistance area.
The stochastic oscillator pointing up at 87% in the overbought region, an indication of upward momentum in price of the cryptocurrency also there is a possibility that the coin may encounter a price reversal in the future.
LTC/USD Short-term Trend: Bullish
The bullish 4-hour opening candle at $76.81 sustained the bullish momentum with price up at $78.68 in the resistance area.
Bulls’ pressure pushes the crypto’s price further up at $79.90 above the resistance line; this suggests the buyers’ dominance in the market.
Price at $77.82 in the support area is an indication of bears’ brief return.
The stochastic oscillator signal pointing down at 87% in the overbought region, suggests that LTC may likely encounter a trend reversal in the future 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.