LTC/USD
Medium-term Trend: Bullish
Resistance Levels: $140,
$150, $160
Support levels: $120, $110, $90
Support levels: $120, $110, $90
Yesterday, July 3, the price
of Litecoin was
in a bullish trend attempting to break the EMAs and reach the bullish trend
zone. Presently, the LTC market is in a bullish trend but below the 12-day EMA
and the 26-day EMA. On the upside, if the bulls break above the EMAs, the
crypto’s price will rise to retest the $134 and $140 resistance levels.
On the other hand, if the
bulls fail to break the EMAs, the LTC price will be in a range bound move. From
the Fibonacci tool, the price of Litecoin is in the downtrend zone of 0.50 Fib.
retracement level. Yesterday, the price did not continue its fall to the 0.786
Fib. retracement level. Rather the LTC price is moving upward. The MACD line
and the signal line are above the zero line which indicates a buy signal.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the LTC
price is in a bullish trend. In the lower time frame, the LTC market is facing
resistance at the $122 price level. The bulls have tested the resistance level
on four occasions.
On each occasion, the price
would fall to the support of the EMAs after testing the resistance level. Today
the bulls have broken the $122 resistance and reach a high of $125. The price
of Litecoin is retracing at a high of $126 price level. The MACD line and the
signal line are above the zero line which indicates signal.
The views and opinions expressed
here do not reflect that of BitcoinExchangeGuide.com and do not constitute
financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
No comments:
Post a Comment