Litecoin (LTC) Price Analysis (February 21)
• Moment to buy, not short! may reverse to the top of the channel soon.
• Bulls are returning back gradually.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $80, $90, $100
• Support Levels: $35.00, $25.00, $15.00
The cryptocurrency is in a bullish trend in its medium-term outlook. The cryptocurrency is in an upward movement with bearish exhaustion at $66.00 in the support area. The bullish long-tailed candle formation at $69.49 in the resistance area is an indication of the bulls returns shortly after today's opening.
LTCUSD is initially up at $72.92 in the resistance area above the 50-EMA as the journey up north has already begun, an indication that the bulls are in control of the coin at the moment.
The stochastic oscillator signal points down at around level 22% in the oversold region suggests a downward momentum in price also the price of the coin may revert soon in the medium-term.
LTC/USD Short-term Trend: Bullish
The Con is in a bullish trend in its short-term outlook. $69.79 bullish candle opens today’s 4-hourly session in the resistance area.
The cryptocurrency rises further to $72.92 in the resistance area due to the pressure from the bulls.
Bear’s brief return drops the coin down to $71.70 in the support area.
Price is above the EMA-9, this indicates the bulls remain in control of the coin.
However, the stochastic signal pointing up at around level 34% in the oversold region is an indication that the momentum in price is in an uptrend at the moment in its short-term outlook.
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.