Litecoin price analysis: LTC/USD peaks into the $60 zone and retreats back
|- This Wednesday’s price session has found resistance at the SMA 50 curve.
- The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.
LTC/USD has retreated from the $60-zone following a brief flirtation, this Wednesday. The 20-day Bollinger band has slowly widened, indicating increasing market volatility. The hourly LTC/USD shows us that the buyers were able to break past intraday resistance at $60.30, and took the price up to $61. The sellers then took control of the market and corrected the price around $59.15.
LTC/USD daily chart
The price has found resistance at the 50-day Simple Moving Average (SMA 50) curve. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum, while the Elliott Oscillator has had six consecutive buyer heavy sessions of growing intensity.
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