LTC/USD Technical Analysis: Bulls looking to retest the $90 mark.
|- LTC/USD had a bullish opening this Friday as the price went up from $85 to $86.20.
LTC/USD daily chart
- The bulls will want to aim for the $90 resistance level again.
- The three latest sessions look suspiciously like a potential evening star pattern, which is a bearish sign. However, if the latest candlestick remains bullish then it will negate that indicator.
- The MACD indicator shows increasing bullish momentum.
- The relative strength index (RSI) indicator curve is currently trending inside the overbought zone.
LTC/USD 4-hour chart
- The 4-hour LTC/USD chart shows that the market found support on the upward trending line.
- The chart shows a potential head and shoulders pattern, which means more upside is expected.
- Narrowing of the 20-day Bollinger band shows decreasing market volatility.
- The Elliot Wave Oscillator shows decreasing bearish momentum.
LTC/USD hourly chart
- The SMA 50 curve has crossed over with the SMA 20 curve which is a bearish signal. The latest session has managed to overtake this convergence of curves.
- The price currently has charted a bullish flag formation and a breakout is expected.
- The short-term target for bulls in the hourly chart will be the $88 level.
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.