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LTC/USD daily chart

  • LTC/USD daily chart has multiple flag formations and is ready for a breakout.
  • The market is trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200 curves.
  • The SMA 50 is going to cross over the SMA 200 soon which will indicate  the golden cross buy sign.
  • The market is struggling to breach past the long-running downward trending line.

LTC/USD 4-hour chart

  • The LTC/USD 4-hour chart’s moving average convergence/divergence (MACD) shows increasing bearish momentum.
  • The last session took the market above the lower curve of the 20-day Bollinger band which shows that the bulls are trying to rally back.

LTC/USD hourly chart

  • The Ichimoku indicator in the LTC/USD hourly chart shows that current market sentiment is a little bullish, however, it will show bearish behavior soon.
  • The last three sessions in the Elliot wave oscillator shows bullish movement.

Key Levels

  • Resistance 3: $59.6579
  • Resistance 2: $58.8992
  • Resistance 1: $57.8264
  • Pivot Point: $57.0677
  • Support 1: $55.9949
  • Support 2: $55.2361
  • Support 3: $54.1633