Litecoin Price Analysis: LTC/USD bulls push the price into the $60-zone
- Over the last three days, LTC/USD jumped from $53.25 to $61.
- The Elliott Oscillator had a green session, following nine straight red sessions.
LTC/USD daily chart
LTC/USD bulls took charge of the market over the last three days. The market bounced off the $53.25 support level and jumped up to $61, crossing the $60-barrier, in the process. The price is hovering above the red Ichimoku cloud and is sandwiched between the SMA 200 and SMA 20 curves. The MACD indicates a reversal of bearish momentum, while the Elliott Oscillator had a green session, following nine straight red sessions. The RSI indicator spiked from 53.36 to 67.20 over the last three days, showing that the price still has more scope for growth before it faces inevitable bearish correction.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
