• The cryptocurrency continues to trade in a bullish trend.
• Buyers are still in control of the coin.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $85.00, $95.00, $105.00
• Support Levels: $35.00, $25.00, $15.00
Litecoin remains in an uptrend in its medium-term outlook. The bears increased momentum pushed price down to $77.25 in the support area during the session yesterday.
The momentum was lost as exhaustion sets in coupled with the doji candle at $80.59 in the resistance area, which signals the bull's return as the market opens today.
The crypto further rises to $81.90 in the upper resistance area, an indication of an upward trend in the price of the coin.
Price is above the two EMAs in the upper resistance, implies the momentum in price of the coin is in an uptrend.
The stochastic oscillator signal pointing downwards at around level 85% in the overbought region indicates the price of the crypto may likely encounter a change in trend in the future in the medium-term.
LTC/USD Short-term Trend: Bullish
The bullish 4-hour opening candle today sustained the bullish momentum with price up at $80.59 in the upper resistance. The momentum was lost as exhaustion sets in coupled with the doji candle that signals the bears’ return.
The bears’ brief return at $80.44 in the support area drops the price of the cryptocurrency within the range.
Price is above the EMAs an indication of an uptrend in price, with the stochastic signal pointing downwards at around level 53% suggest the momentum in price of Litecoin may change 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.