Litecoin (LTC) Price Analysis (February 25)
• LTCUSD sitting at resistance—might possibly retest $85 soon if it fails; support is still seen at $65.
• Price still trades in an uptrend.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $80, $90, $100
• Support Levels: $35, $25, $15
Just like usual, Litecoin is leading the crypto market in terms of price going up. The next price target is $83.43 which was the previous swing-high of the last move it made up.
The bears increase momentum drops price down to $71.80 in the support area, with its wick touching the EMA-9 during the session yesterday.
Today’s daily opening candle at $75.55 in the support area was bearish as the bears' temporal dominance remains.
LTCUSD drops further to $73.70 in the support area. The coin might possibly retest $85 soon if it fails; support is still seen at $65.
Price is above the two EMAs as the time of writing and the signal of the stochastic oscillator points upwards at level 59% an indication of upward momentum within the range in the medium-term.
LTC/USD Short-term Trend: Bullish
The 4-hourly time frame shows that a large double bottom pattern has formed with sellers trying to invalidate the bullish pattern.
The opening candle on the 4-hourly chart today at $75.55 at the support area is bearish.
Looks like LTCUSD is falling towards support as the price now drops below the two EMAs at $73.70 in the support area.
The stochastic signal pointing up at a level, 30% suggests that the momentum in the price of the coin is in an uptrend also a change in price of the crypto may likely occur in the days ahead in the short-term within its range.
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.