• The cryptocurrency continues in bullish trend zones both in the medium and short-term outlook respectively.
• Buyers remain dominant in the market.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $85.00, $95.00, $105.00
• Support Levels: $35.00, $25.00, $15.
LTCUSD remains in a bullish trend in its medium-term outlook. The bull retains the control of the market as the market opens today at $81.37 well above the resistance line in the upper resistance area.
The cryptocurrency further rises to $84.50 in the upper resistance area breaking the resistance line as the journey up north continues. In other words, the bulls break the resistance line and reach a high of $84.50.
Price is above the two EMAs, an indication of an upward movement in price of Litecoin.
The stochastic oscillator pointing upward at 90% in the overbought region suggests that a price reversal may likely occur in the days ahead in the medium-term.
LTC/USD Short-term Trend: Bullish
Today’s 4-hour bullish opening candle at $81.37 sustained the upward momentum in the price of the coin.
Bulls’ exercise strong pressure at $84.50 in the upper resistance area sustains the cryptocurrency in the bullish trend.
Price is above the two EMAs, an indication of buyers’ full control of the market.
However, with the stochastic oscillator signal pointing up at around level 90% in the overbought region, indicates a trend reversal may occur in the days ahead 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.