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Litecoin price prediction: LTC/USD continues recovery, looks to re-enter $75-level

  • LTC/USD went up from $70 to $72 in the early hours of Tuesday.
  • Moving average convergence/divergence (MACD) indicator shows increasing bullish momentum.
Litecoin price prediction: LTC/USD continues recovery, looks to re-enter $75-level
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD continued its recovery this Tuesday as its price went up from $70 to $72. Over the last four days, the price has gone up from $65 to $72. During the same period, the price had crossed over the downward trending line. LTC/USD is currently trending in an upward channel formation. The price is negotiating with the resistance at $75.

LTC/USD daily chart

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LTC/USD is trending above the 20-day simple moving average (SMA 20) curve, while it's below the SMA 50 and SMA 200 curves. The moving average convergence/divergence (MACD) indicator shows increasing bullish momentum. The Elliott oscillator has had nine straight bullish sessions.
 

Author

Rajarshi Mitra

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.

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