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Litecoin Price Analysis: LTC/USD bulls aim to go past the $75-level

FX Street
Updated:
  • The Elliott Oscillator has had three straight red sessions, showing bearish market sentiment.
  • The RSI is trending inside the overbought zone.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD bulls retained their control over the market for the second straight day. Ever since this Wednesday, the price of LTC/USD jumped from $67.89 to $73.88. Now that the $70-level has been conquered, the bulls are looking to take over the $75-level. The price is currently flirting with the upper curve of the 20-day Bollinger band and is hovering above the SMA 20, SMA 50 and SMA 200 curves. The Elliott Oscillator has had three straight red sessions, while the MACD indicator shows increasing bullish momentum. The RSI indicator is inside the overbought zone, so a bearish correction may be round the corner. 
 

FX Street

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