Rajarshi Mitra
Independent Analyst
- LTC/USD daily chart shows that the market is on the verge of a breakout.
- The bulls have taken over the market after the bearish drop that affected the entire cryptospace.
LTC/USD is on the path to recovery after its price fell nearly 6% following the bearish drop in the crypto market. The bulls have taken over and price recovery is well on its way.
LTC/USD daily chart
-636851024043823908.png)
- LTC/USD daily chart shows that the market is on the verge of a breakout from the triangle.
- Bulls are using the $32.50 support line to break past bearish resistance.
LTC/USD 4-hour chart
-636851027060297155.png)
- The LTC/USD 4-hour chart shows that bulls have broken past resistance at $33.
- The last two sessions are floating towards the middle of the 20-day Bollinger band, indicating a bullish market.
LTC/USD hourly chart
-636851027512804432.png)
- The hourly chart confirms that bulls are past the $33 support line and are aiming to break past resistance at $33.50.
- The relative strength index (RSI) was in the undersold territory but is now rising towards the overbought area. This once again shows that LTC/USD bulls are in full form.
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