Litecoin technical analysis: LTC/USD bulls take control as march towards $60 begins
- LTC/USD is currently priced at $57.25.
- The RSI indicator has crept out of the oversold zone.
LTC/USD daily chart
LTC/USD daily price is trending in a flag formation and has managed to chart two bullish days in a row. The price is currently trending below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Relative Strength Index (RSI) indicator has crept above the oversold zone.
LTC/USD four-hour chart
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The four-hour price is flirting with the upper curve of the 20-day Bollinger Band. The price is trending above the SMA 20 curve, while it is still trending below the SMA 200 and SMA 50 curves. The Elliot Oscillator shows nine straight bullish sessions of increasing intensity.
LTC/USD hourly chart
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The hourly LTC/USD chart has broken above the green Ichimoku cloud and is currently trending above the red cloud, SMA 50 and SMA 20 curves. The price is also trending below the SMA 200 curve. The Moving Average Convergence/Divergence (MACD) indicator shows sustained bullish momentum.
Key Levels
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.
