- Bulls have a field day as LTC/USD has a bullish breakout from flag formation.
- LTC/USD went up from $45.50 to $48.50, growing by 6.5%.
LTC/USD bulls moved the price up from $48.50 to $45.50, as the market went up by 6.5% this Friday. LTC/USD became one of the largest movers on a day which saw the entire crypto market receive a significant boost. The buyers will want to claim back the $50 resistance line which they lost out on Sunday, February 24th.
LTC/USD daily chart
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The LTC/USD market consolidated from Monday, February 25th to Thursday, February 28th, recovering from the sharp drop it experienced on February 24th. In the process, they formed a flag formation, which experienced a bullish breakout this Friday. There are three significant indicators which show the bullish sentiment of the market:
- The LTC/USD price is trending above the 200-day simple moving average (SMA 200) curve.
- The moving average convergence/divergence (MACD) histogram shows that the bearish momentum is slowing down and reversing.
- The relative strength index (RSI) curve is creeping towards the overbought territory.
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