Litecoin Price Analysis: LTC/USD re-enters the 20-day Bollinger Band following bullish action

• The LTC/USD daily chart is hovering above the green Ichimoku cloud.
• The MACD indicator is trending around -2.21 under heavy bearish sentiment.

LTC/USD daily chart

LTC/USD managed to chart a second consecutive bullish day and re-entered the 20-day Bollinger Band. In the early hours of Friday, LTC/USD went up from $61.75 to $62 and is hovering above the green Ichimoku cloud. The MACD indicator shows sustained bearish sentiment, while the Elliott Oscillator dropped from 5 to -2.21 over the last four days. The RSI indicator has gone up to 43.75 from 38.15 during the previous two days following the bullish price action.