Litecoin (LTCUSD) Price Analysis (February 10)
• On the upside, if the price is sustained above the EMAs, the bulls will break the $78.19 resistance level and reach the highs of $80.00 and $90.00 price levels.
• If it does not, the crypto’s price will continue to trade in the bullish trend zone.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $80.00, $90.00, $100.00
• Support Levels: $35.00, $25.00, $15.00
LTC/USD continues in a bullish trend in its medium-term outlook. Yesterday, price of the coin reached the highest price level of $78.45 in a bullish trend.
Today’s daily candle at $77.09 opens on a bearish note. The bulls were resisted as the price fell to the support of the EMA 9. In other words, the price fell to a low at $73.16 in the support area.
Price is above the two EMAs trading at the $77.50 price level. Today, the LTCUSD is trading above the EMAs which indicate that price is in the bullish trend zone and the stochastic oscillator signal pointing up at around 88% in the overbought region suggests an upward momentum in the price of the coin, an indication of likely increase in price soon.
LTC/USD Short-term Trend: Bearish
The cryptocurrency is in a bearish trend in its short-term outlook. After breaking the $78.45 of the resistance line, the bears pushed price further down at $75.00 in the support area shortly after yesterday's opening before momentum loss.
Today’s 4-hourly candle at $77.09 opens on a bearish note. LTC/USD dropped further to $72.81 in the support area as the journey down south continues.
Price hovers around the two EMAs, the stochastic oscillator signal pointing down at around 48% suggests a downward momentum in price of the coin 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.