Litecoin Technical Analysis: LTC/USD recovers above $43 and outperforms most of the crypto market

Litecoin is one of the few cryptos on June 26 to see positive gains.
LTC/USD is up 2%, but as been rejected from the daily 12-EMA.

Lorenzo Stroe Independent Analyst

Litecoin is outperforming the market bouncing from a low of $41.32 to $43.54. The next clear resistance level is established at $43.53, the daily 12-EMA. Bulls seem to have picked up the pace and are trying to change the daily downtrend.

LTC/USD daily chart

Litecoin is currently in a daily downtrend trading below the 12-EMA and the 26-EMA. Both EMAs have crossed bearishly on June 14 when the daily uptrend was basically lost.

LTC/USD 4-hour chart

Litecoin has established a 4-hour uptrend after climbing above the 12-EMA at $42.60 and the 26-EMA at $42.93. Bulls are now holding the 26-EMA as support and are looking for the next leg up with a lot of support nearby.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.