LTCUSD Price Analysis: Litecoin Eyeing A Breakout, Moving In Rising Channel Above EMA

By Vince Prince
Published June 11, 2020 Updated June 11, 2020
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LTCUSD Price Analysis

LTCUSD Price Analysis: Litecoin Eyeing A Breakout, Moving In Rising Channel Above EMA

By Vince Prince
Published June 11, 2020 Updated June 11, 2020

LTCUSD is moving in a healthy uptrend channel with its lower line and the upper line already touched several times. As It is currently consolidating in a wider range it possible that LTUSD sees a breakout sooner or later.

LTCUSD Price Analysis: 1 Day Chart 

LTCUSD Price Analysis

LTCUSD confirmed above the 20 an 55-EMA and confirmed as support which is a good sign and can indicate a movement to the upside because we have support here and it will be hard to cross this support down. The RSI is consolidating in the middle that means that it can touch the overbought or oversold condition as this is normally the case after such a RSI-consolidation, this movement will confirm to the rising-channel trend.

Today we see some volatility in the intraday basis because of fed pumping money in the market this can continue
when we do not get bearish signs which will go in the opposite direction.

When LTCUSD confirms further to the upside in the rising channel we can expect it to visit higher levels at 48.5 and 50.

  • TREND: Sideways
  • FORMATION: Channel
  • RSI: Moderate
  • MACD: Bullish Confirmation
  • PREVIOUS: 45.842
  • OPEN: 45.900
  • VOLUME: 20.099K
  • DAY’S RANGE: 45.761 — 47.200

Thanks!

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Vince Prince
16 Articles
Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/ Or you can join his telegram channel: https://t.me/vinceprince_channel

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