LTCUSD price is moving in a steady solid and serious channel with the lower line and upper line already touched several times which are good support and resistance levels.
LTCUSD Price Analysis: 4 Hr Chart
LTCUSD has shown some good volume and momentum this can indicate another touch of the higher line before showing more action in the levels. For now, LTCUSD is trading below the 55 and 20 EMA which is more bearish but when LTCUSD comes above the EMAs it can confirm to bullish.
RSI bounced at the oversold condition which can show an increase the next times to higher levels. Furthermore, the MACD showed a bullish crossover which can show in a price increase.
The outcome of the channel will be indispensable and show the final direction.
- TREND: Sideway
- EXPECTATION: Test of channel higher line
- TREND AFTER EXPECTATION: Confirmation either bullish or bearish
- PREV: 43.123
- OPEN: 43.126
- VOLUME: 3.193K
- DAY’S RANGE: 42.461 — 43.156
Thanks!
Author: Vince Prince
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/
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