Litecoin: Bulls come calling?
|- Price rises in the short term in sync with support line.
- Bulls pass first test of 200 DMA, what next?
Litecoin, is among the few cryptocurrencies that has passed a critical test of the bull run wherein it has crossed past 200 days SMA, a key test for the resumption of bull market. Whether bulls can build on to it or not is the next big question staring at them.
LTC/USD is up just about 0.2 percent on day at $48.95 in two percent range for the day while volatility is on the shrinking side. On the hourly chart of the coin, it is rising in support of an ascending trendline that has helped prices remain elevated and not fall much throughout the gone by week.
While prices remain up in the short term, next big question facing the bulls is how to build on to the momentum after crossing past 200 days SMA. Perhaps 200 days EMA, sitting not far from the CMP - $50.543.
LTC/USD 60-minute chart:
LTC/USD daily chart:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.