Litecoin (LTC) Price Analysis (February 17)
• The medium-term is in a bullish trend while the short-term is in a bearish trend.
• Sellers are returning to dominate the market.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $70, $80, $90
• Support Levels: $35, $25, $15
The crypto is in a bullish trend zone in its medium-term perspective. The bears’ pressure on the coin continues to push the momentum in price of LTCUSD down to $74.70 in the support area as the market closes yesterday.
$74.65 at the support area is the opening price as the market opens today on a bearish note.
The crypto further drops to $69.14 in the support area due to the reactions from the bears.
Price of Litecoin is initially down below EMA 9, suggests bears’ strong pressure resuming gradually.
Thus, the stochastic oscillator signal pointing down at around level 40% in the oversold region indicates the momentum in price of the coin may likely encounter a change in trend in the medium-term.
LTC/USD Medium-term Trend: Bearish
The coin is in a bearish trend in its short-term outlook. $75.93 in the resistance area is the high attains by the bulls during yesterday's session.
Today’s 4-hour opening candle at $74.65 in the support area is bearish as the bears remain dominant in the market. LTCUSD drops further to $69.14 in the support area.
Price is below the two EMAs and the signal of the stochastic oscillator points down at 25% an indication of downward momentum within the range 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.