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Litecoin Technical Analysis: LTC/USD bulls target the $50 psychological level

FX Street
Published date:
  • LTC/USD spiked from $39.35 to $47.75 over the last six days.
  • The price is trending above the 20-day Bollinger Band.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD is trending in an upwards channel formation after charting six straight bullish days. The price is hugging the upper curve of the 20-day Bollinger Band and hovering above the 50-day Simple Moving Average (SMA 50) and SMA 20 curves. The price has gone up from $46.35 to $47.75 so far this Wednesday. Both the Moving Average Convergence/Divergence (MACD) and Elliott Oscillator show increasing bullish sentiment. The Relative Strength Index (RSI) indicator is trending next to the overbought zone, hinting that LTC/USD’s price may go up even more.
 

FX Street

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